GE Aviation a poor investment

In the Nov. 20 article, “Groundbreaking: GE Aviation Comes To Asheville,” I was shocked to read that poor, broke Buncombe County and poor, broke Asheville were contributing so much cash to this private sector project. I understand that you have to spend money to make money, but where exactly is the return on investment here?

According to the money count listed in the article, nearly $20 million ($19.88 million) is being given to GE to get this plant to come to Asheville. And this offering will create only 50 new jobs. If you do the math, that’s a $400,000 cost for each one of these 50 jobs. Wow, that seems a bit meaty to me. Has someone out there calculated the payback period on this investment? And, if so, I would love to know what it is.

— Bill Meller
Asheville

Xpress reporter Jake Frankel clarifies: In the complex deal, Buncombe County agreed to spend $15.7 million on land acquisition and facility construction, and give the company an additional $2.68 million in cash grants. The city of Asheville approved giving the GE Aviation $1.5 million in tax breaks.

SHARE
About Webmaster
Mountain Xpress Webmaster Follow me @MXWebTeam

Before you comment

The comments section is here to provide a platform for civil dialogue on the issues we face together as a local community. Xpress is committed to offering this platform for all voices, but when the tone of the discussion gets nasty or strays off topic, we believe many people choose not to participate. Xpress editors are determined to moderate comments to ensure a constructive interchange is maintained. All comments judged not to be in keeping with the spirit of civil discourse will be removed and repeat violators will be banned. See here for our terms of service. Thank you for being part of this effort to promote respectful discussion.

Leave a Reply

To leave a reply you may Login with your Mountain Xpress account, connect socially or enter your name and e-mail. Your e-mail address will not be published. All fields are required.