Indianapolis paid $30 million to solve one problem. Now, it has created another.
Would Dow AgroSciences pack up and move 1,400 jobs out of town?
Only DowDupont Inc. knows for sure, and Indianapolis is paying the company $30 million to avoid finding out.
The City-County Council in November choked down a rare retention incentive for DowDuPont, approving it by an 18-7 vote, despite a sense of bewilderment among some who supported it. The deal, as well as the urgency surrounding it, came as a surprise to many council members — even though Mayor Joe Hogsett's administration negotiated it nearly three years ago.
"It was a s--- deal," said Democrat Jared Evans, who voted for it. "It was one of those situations that I hope never comes up again. On the line was the possibility that 1,400 people were likely to lose their jobs in the coming years if we had not approved that incentive package."
Read more: https://www.indystar.com/story/money/2019/01/04/dowduponts-30-million-incentive-raises-new-worry-indianapolis/2151375002/
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