Tuesday, March 31, 2015

How Are Those PTI Investments Working Out?

Over the years the City of Greensboro has literally pushed hundreds of millions of dollars into development at Piedmont Triad International Airport, an area that forever remains outside of the city's control and cannot be taxed by any city or county in North Carolina.

Today we learn that United is laying off 60 workers:

"United Airlines said Monday it is eliminating the jobs of about 60 employees at Piedmont Triad International Airport in Greensboro as part of transferring its airport operations to an outside service group."

Sure, some of those jobs will remain local with 3rd party contractors but not at the rate of pay United paid. That means less money will be spent locally by the workers who remain.

It's time we looked at investments that don't just up and fly away every time things get tough. It's time we considered the economic costs of economic development and started working on the ground. And folks, airplanes have wings.

The $120 Million Dollar public investment in FedEx promised 1500 jobs, 15 years later FedEx has yet to increase its work force.

Timco Aviation was bought out by a Chinese corporation and has laid off employees nationwide.

How long before Honda Jet flies away?