The rich get richer

It’s not enough that Arizona grew its population by 50% over the past 14 years. It’s not enough that the economy is booming. No, the Governor wants more. She orchestrated a major tax incentive package to attract even more investments.

The measure, signed into law May 20 by Gov. Janet Napolitano, creates a new optional formula that businesses can use to reduce their state income taxes in Arizona. At Napolitano’s insistence, the change takes effect only if companies commit at least $1 billion in capital investment projects.

So Intel just announced a $3 billion microchip manufacturing plan in Arizona – over 1,000 new, high paying jobs.

I particularly like the Governor’s hutzpah. The tax incentive program only kicks in for projects of $1 billion in capital investment or more.

Contrast that with New Brunswick’s last tax incentive program. Small business owners will be able to get a personal tax deduction on money they invest in their businesses.

So, to recap:

New Brunswick – tax incentives for small business – population decline and no real foreign direct investment.

Arizona – tax incentives only for projects of $1 billion or more – second fastest growing state/province in North America.

Don’t you wish we could ship Volpe and Lord to Arizona and bring Napolitano here? Just for a few years, please?