Sunday, July 27, 2014

Are tax dollars for Texas businesses really going out of state?

I'm against taxpayers money used like this.  You would think the savings in Capital Gains taxes and income taxes would be enough of a draw you wouldn't need additional incentives such as these.

One company called Targazyme (formerly America Stem Cell) took 1.2 million from the fund back in 2009 to help build their biopharmaceutical business down in Floresville. But there’s one problem: according to reports, there’s nothing at the company’s Texas address but a weedy lot. The California address listed on their website looks more like an airport hangar than anything else, leaving a Switzerland location as the only other published address for the company. And making folks wonder where, exactly, the state’s money is going.

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