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  1. #16
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    Re: Microsoft Expanding in WDM

    $20 million in tax credits for 29 jobs. Someone please explain this to me.



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    Re: Microsoft Expanding in WDM

    Communities in Iowa need to come together and agree not to offer tax breaks or development subsidies. It will not only keep the playing field level but it will save taxpayers money in the long run. The Twin Cities has a great example of how communities understand they are all "in it together" and shouldn't just compete with one another.



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    Re: Microsoft Expanding in WDM

    Quote Originally Posted by JWIL4CY View Post
    $20 million in tax credits for 29 jobs. Someone please explain this to me.
    You see part of the governors plan was to create jobs. He created 29 jobs and it only cost Iowa taxpayers $690,000 per job!


    Quote Originally Posted by CycloneRulzzz View Post
    mtown is among the worst to ever play this game.


  4. #19
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    Re: Microsoft Expanding in WDM

    Quote Originally Posted by JWIL4CY View Post
    $20 million in tax credits for 29 jobs. Someone please explain this to me.
    Or you can look at is as $20 million in tax credits to build a $700 million dollar project. Which the majority of that labor and material with touch the iowa workforce. It is roughly a 3% savings for Microsoft. While it only creates 29 permanent jobs it does create several jobs in building it. Even if they don't' use an Iowa construction company they have to pay employment and sales taxes. Not saying Iowa will recoup all $20 million immediately, but it probably works out.

    Plus developing a relationship with Microsoft shouldn't be looked at as doing a bad thing. Granted i think most large corps are going to go where it is cheapest to build, but maybe this helps Iowa land something else in the future.


    A world without yoga pants and Planter's cheese balls, is a world I no longer want to live in.

  5. #20
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    Re: Microsoft Expanding in WDM

    Quote Originally Posted by boone7247 View Post
    Or you can look at is as $20 million in tax credits to build a $700 million dollar project. Which the majority of that labor and material with touch the iowa workforce. It is roughly a 3% savings for Microsoft. While it only creates 29 permanent jobs it does create several jobs in building it. Even if they don't' use an Iowa construction company they have to pay employment and sales taxes. Not saying Iowa will recoup all $20 million immediately, but it probably works out.

    Plus developing a relationship with Microsoft shouldn't be looked at as doing a bad thing. Granted i think most large corps are going to go where it is cheapest to build, but maybe this helps Iowa land something else in the future.
    I would argue the bolded. Most likely the construction company is using current employees and if they need more they will hire temps to fill what they need.



  6. #21
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    Re: Microsoft Expanding in WDM

    Quote Originally Posted by JWIL4CY View Post
    $20 million in tax credits for 29 jobs. Someone please explain this to me.
    Just a wild guess but give them $20 million in tax breaks or give them nothing and then you don't have to worry about any taxes they would provide.

    Maybe I'm getting this wrong but it's not like they are just giving them $20 million in cash from the taxpayers of Iowa. They are offering $20 million in tax credits. Is this right? If so I don't see the issue.


    Last edited by dmclone; 06-24-2013 at 12:02 PM.

  7. #22
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    Re: Microsoft Expanding in WDM

    Quote Originally Posted by boone7247 View Post
    Or you can look at is as $20 million in tax credits to build a $700 million dollar project. Which the majority of that labor and material with touch the iowa workforce. It is roughly a 3% savings for Microsoft. While it only creates 29 permanent jobs it does create several jobs in building it. Even if they don't' use an Iowa construction company they have to pay employment and sales taxes. Not saying Iowa will recoup all $20 million immediately, but it probably works out.

    Plus developing a relationship with Microsoft shouldn't be looked at as doing a bad thing. Granted i think most large corps are going to go where it is cheapest to build, but maybe this helps Iowa land something else in the future.
    That is not quite right because that 677 includes all the servers too which will be out of state. The building will probably be around 100-200 million of the cost.



  8. #23
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    Re: Microsoft Expanding in WDM

    Quote Originally Posted by isufbcurt View Post
    I would argue the bolded. Most likely the construction company is using current employees and if they need more they will hire temps to fill what they need.
    Right but if they don't have this job they may lay off workers or send them to another state to do work. So while they might already be employed it is still job creation. Even if the jobs are short term they are still jobs and someone is earning a paycheck. If they don't get this work then that is $700 million less being spent on development in Iowa.


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  9. #24
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    Re: Microsoft Expanding in WDM

    Quote Originally Posted by cytech View Post
    That is not quite right because that 677 includes all the servers too which will be out of state. The building will probably be around 100-200 million of the cost.
    Last time a check you still pay sales tax on all those servers at the place of their destination. So 477 - 577 in computing equipment comes out to approx $23.85 - 28.85 million. Doesn't seem like is too bad of a deal for the state. Plus future upgrades of equipment.


    A world without yoga pants and Planter's cheese balls, is a world I no longer want to live in.

  10. #25
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    Re: Microsoft Expanding in WDM

    Quote Originally Posted by dmclone View Post
    Maybe I'm getting this wrong but it's not like they are just giving them $20 million in cash from the taxpayers of Iowa. They are offering $20 million in tax credits. Is this right? If so I don't see the issue.
    According to government accounting rules it is giving them money.

    When I deduct my mortgage interest the government is taking less from me they aren't giving me anything.



  11. #26
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    Re: Microsoft Expanding in WDM

    Quote Originally Posted by canker2323 View Post
    According to government accounting rules it is giving them money.

    When I deduct my mortgage interest the government is taking less from me they aren't giving me anything.
    Tax credit =/= tax deduction. Tax credits lower on a dollar for dollar basis...a deduction is on a marginal tax bracket basis.



  12. #27
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    Re: Microsoft Expanding in WDM

    Quote Originally Posted by IcSyU View Post
    Tax credit =/= tax deduction. Tax credits lower on a dollar for dollar basis...a deduction is on a marginal tax bracket basis.
    It is the government taking less money than they would have right?



  13. #28
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    Re: Microsoft Expanding in WDM

    Quote Originally Posted by canker2323 View Post
    It is the government taking less money than they would have right?
    Assuming it's a non-refundable credit, yes. If it's a refundable credit then no (I'm sure it's a non-refundable credit but your point is a bit misinformed).



  14. #29
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    Re: Microsoft Expanding in WDM

    Quote Originally Posted by isufbcurt View Post
    I would argue the bolded. Most likely the construction company is using current employees and if they need more they will hire temps to fill what they need.
    Which is creating jobs. Not careers, but jobs.

    Sometimes guys who work in construction don't work. If nobody wants to build something, they sit at home.



  15. #30
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    Re: Microsoft Expanding in WDM

    Quote Originally Posted by NickTheGreat View Post
    Which is creating jobs. Not careers, but jobs.

    Sometimes guys who work in construction don't work. If nobody wants to build something, they sit at home.
    I do not consider maintaining jobs to be creating jobs. And I also do not consider temp jobs creating jobs. To me creating jobs is creating a new full time/part time job that wasn't there before.



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