The DuPont Co just received a state grant for $920,000 for a prototype organic LED plant at Stine-Haskell Research Center in Newark. The money couldn’t come at a better time.
DuPont just announced a 20% increase in sales in 2011 for a total of $38 billion. But all is not coming up roses. In addition to fines paid to the EPA and for chemical leaks in West Virginia, DuPont also paid the state of Delaware a $500,000 fine for noncompliance with the Clean Water Act at its Edge Moor Plant. Certainly these fines are taking a toll and at least DuPont nets $420,000 from Delaware household and business taxpayers. The Company promises to create 35 “good paying” jobs.
Oh, mentioning Delaware businesses, over the 12 months ending in March of 2011 Delaware businesses shed 66,606 jobs through the contraction of firms and 16,729 jobs through the closure of firms. While these businesses did not merit any grants from the state, surely they are happy to fork over the taxes to help their successful neighbor.
And as to the households who are contributing to the DuPont Co, surely they aren’t complaining about subsidizing DuPont even though the price of Girl Scout cookies has just gone up (as has the poverty rate).
Dr. John E. Stapleford, Director
Center for Economic Policy and Analysis