Letter: Schwab jobs plan better than GOP giveaways Op-Ed · October 12, 2012
I joined the growing number of Iowans who have concerns about the tax incentives offered to the Egyptian company Orascom to build a fertilizer plant in Iowa.
Dick Schwab, candidate for state representative from Iowa House District 73 would have a different approach to job creation from the Republicans, one based on starting his own small businesses. His approach is a reason I support him.
Rather than offer tax incentives of more than $250 million to a foreign corporation to build a plant with 165 employees, his approach would be to favor Iowans and Iowa companies in job creation.
He knows from experience that one of the key challenges to small businesses is capitalization of start-up expense, and enabling growth. That $250 million in tax incentives could do a lot for Iowa businesses. A recent example illustrates the point.
The Solon City Council recently approved a $125,000 forgivable loan to local business operators to open a restaurant and microbrewery in town. This was enough incentive for them to proceed with the project of construction of a new facility. The business will create local jobs.
Do the math and $250 million could be used for 2,000 such forgivable loans, creating thousands of permanent jobs. A better deal than the large scale Republican offering.
Schwab supports a strong district economy by supporting a reduction in commercial property taxes for every Iowa business, focused on Main Street in small towns. Schwab also supports giving Iowans first crack at government contracts and buying American- and Iowa-made products where it is cost-competitive.
To me, this approach would do more for the Iowa economy than providing tax incentives to foreign corporations.
Thatís why I voted for Dick Schwab and hope you will consider voting for him on Nov. 6.