Sanyo / Layoffs vs tax incentives

Five years ago, taxpayers provided more than $42 million in incentives to lure Sanyo Solar of Oregon to Salem. Tax credits, land write downs, grants and other incentives caused corporate decision-makers to look favorably on Salem.

With many of those incentives, however, came conditions. Sanyo would have to hire a certain number of workers, pay them above particular levels and keep them employed for a period of years.

Sanyo’s announcement last week that it is letting go of 52 of its about 200 workers has state and local officials taking a detailed look at their agreements with the company to see if it will continue to fulfill its part of the bargain.

Chosen excerpts by Job Market Monitor

via Sanyo layoffs prompt review of taxpayer incentives | Statesman Journal | statesmanjournal.com.