I don't think there is such thing as manufacturing investment without subsidization any more.
And it most often results in the Winner's Curse: the entity providing the greatest subsidies win's the "investment", but they give up so much in the process that the economic benefits are wiped out.
See: Tesla in Buffalo, VW in Ontario, FoxConn in Wisconsin.
I'm not sure if I agree, tbh. You've certainly brought up some good cases of failures, but what about:
Tesla in Sparks NV, BMW in Greer SC, or Mercedes in Alabama and SC? It seems like those have more than paid for themselves by now. In at least one of those cases, they've had huge regional impacts.
"KEDFA approved the $43.5 million tax incentives shortly after the Toyota expansion announcement was made Monday. The dollar figure combines the incentives from the Lexus expansion in 2015 with the latest investment for a total of $190 million in incentives, said Jack Mazurak, communications director at KEDFA.
Let’s be honest. Southern state probably lured them in with a nice package.
Toyota has been moving ops to states with lower cost of living for awhile now. Toyota corp in USA shifted ops from CA to TX a decade back. Many workers hate or regret the move. C-level executives are excited because they pay less in state taxes. Probably even got a nice deal on the land.
Toyota broke ground in San Antonio more than two decades ago, in 2003, not one. Georgetown KY has been around since 1986 and Princeton IN since 1996. Toyota has been investing in “low cost of living” states for a very long time.
And it most often results in the Winner's Curse: the entity providing the greatest subsidies win's the "investment", but they give up so much in the process that the economic benefits are wiped out.
See: Tesla in Buffalo, VW in Ontario, FoxConn in Wisconsin.