Welfare for Westfield and Costco

A huge portion of federal government expenditures (close to half) consists of robbing Peter to pay Paul.  It is not nearly as large a part of the MoCo budget, but it’s still significant.

The County Council and the County Exec are now scuffling over how much tax money to give away to politically favored private companies.  Leggett wants to give away $4 million to the Westfield corporation, which in turn would be used to bring Costco to Wheaton Plaza.  Westfield is in tight with the county, having previously been fed $6 million to build a garage at Wheaton Plaza.

The money comes from the Economic Development Fund Loan and Grant Program, which has given out about $25 million to well-connected businesses in the county such as Marriott and others.   In difficult financial times, Ike is proposing to increase this corporate welfare spending by 447% in FY 2012.  The budget target for the Economic Development Fund is $4.92 million;  in the current year, spending is budgeted at $1.53 million.

The County Council voted this week to go with Leggett’s proposal to give the four million to Westfield.  The floodgates are officially open.

Explore posts in the same categories: Budget and Taxes, Corporate Welfare

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One Comment on “Welfare for Westfield and Costco”

  1. Dan Says:

    Thanks for covering the corporate welfare issue. I tried to like the post, but getting a WordPress error. For more information visit http://savekensingtonheights.com/?p=49

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