CNH Proposes $3 Million Expansion to Fargo Tractor Plant
FARGO, N.D. — A tractor plant in Fargo is requesting a five-year tax break on an addition that owners say will add 48 jobs with an annual payroll of more than $3 million.
KFGO radio reports (http://bit.ly/IOw1Qq) that Case New Holland has requested a tax break on a 20,000-square-foot manufacturing space for making tractor and combine parts. The parts would be shipped to other plants in North Dakota, Nebraska and Belgium.
City commissioners will decide on the request Monday.
City Assessor Ben Hushka says that granting the tax break would eventually add $53,000 to the city's tax roll and benefit Fargo by adding jobs.
The addition is expected to cost $3 million. Case New Holland previously requested, and was granted, tax breaks for an expansion that added more than 250 jobs.
Information from: KFGO-AM, http://www.kfgo.com
Posted May 12, 2012
Well, I look at it this way.... at least they are trying to give AMERICANS jobs and are not adding more jobs overseas....Deere, AGCO and CNH all, have more plants in other countries than they do here.... So any addition to plants in the States is a good thing.. Maybe more companies will follow CAT's lead and come back to our shores....
Read 48 hours ago how NS got over 100 million dollars from Washington to help realign rail tunnels
Holy 3x/? whaen you read many of these comments regarding a tax break for CNH and Agco you would the people making these comments think that good old innocent John Deere would not take part in such selfish opportunities, Du!
OK guys - this is America remember? If you think a company is making obscene profits SO ARE THE SHAREHOLDERS! So buy stock in the company. Then you're in on the action too and perhaps not quite as disgusted. And what about all those widows and orphans? By the way, it's GALL, not gaul. Gaul was France back in Roman times.
Disgusted, let's say that you live in a house and take a homeowner/mortgage tax deduction. Is that "taking money away" from your neighbor Ted who lives in an apartment and doesn't get a homeowner tax credit?
If you buy an energy-efficient vehicle and the government tells you that you can take it off your taxes, are you "taking money away" from your neighbor who drives a regular old car?
You can make the argument -- and I do -- that incentives distort the free market. That doesn't mean you have to rail against everyone who uses what's there.
And let me reiterate, if the government tells a company that they can keep some more of their money, they didn't take it away from you.
And yes, I'm OK with high CEO salaries. I think that's just a distraction and a class-warfare-inspired non-issue, though.
Well, Deere just announced a 1.056 BILLION profit in the 2nd quarter. That's Billions with a B
"B" and only 3 months of business.....maybe we should give them some sort of subsidy or tax break also. CNH and AGCO are making similar profits. Their CEO's make more in one day than most of us make in a year. Yet, they have the gaul to ask for tax concessions from us the taxpayer. They are ok that we cut funding from another project to help their little company add on to their building. But, of course they are dangling that huge carrot..."jobs" And they play the "thread card" of "we don't have to build here"....
So, you are ok with the corporates paying their CEO's and high level management massive salaries and then asking for a govt subsidy to help them expand?? You know that money that the local govt is giving them in consessions is coming from somewhere....road building, school/hospital improvements...etc that will be cut from funding....you are ok with that??
Remeber this, the ag industry is at an all time high....demand is unprecedented....they cannot build the machines fast enough and they need to expand ....NOW. They are also making massive / obscene profits! They will expand with or without tax concessions. Don't get scared in the corporate spin doctors scare tactics that we can build elswhere.
Have you taken into consideration that CNH is a global company and could expand it's other facilities instead of the Fargo tractor plant? This is not the only location that they build equipment. Be glad they kept it in the US and are helping out the local economy. While I may not fully understand the rationale behind the proposal, I stand behind any company that expands in the US of A and betters our economy.
Ask yourself: What have I done to help out my fellow mankind? Rather than sit on a board and complain about "others"...
If the local government agrees not to collect extra tax dollars from a company's expansion, they aren't taking any dollars out of your pocket. You aren't having to pay more taxes. Your municipal government is agreeing to collect less than they otherwise could have.
Basically, the money that you're worried about isn't yours to begin with.
I don't like to see government "favors" to business any more than you do. I'm libertarian. But I don't blame businesses for creating this environment. I try to look at the root cause and ask, "Why did government get set up this way?" You can blame businesses for being greedy and powerful, like a Hollywood movie, or you can say, "Hey, a lot of Americans have the wrong ideas about what government ought to be involved in." I opt for the latter approach.
I understand the reason for tax concessions...if you help out a company, they will bring us jobs and the economy of that area will prosper.....blah blah blah....
Have you seen the returns that the farm equipment manufacturers are getting in the last few years....OBSCENE is an understatement!
And then they have the gaul to ask, "hey, if you take a cut in pay, we will build and create a few jobs". Why should we, the taxpayers, take a cut in pay by giving a tax concession to a company that abviously does not need it?? I call it a cut in pay because the tax dollars they get will be stolen from somewhere else that we will have to pay extra to get....ie schools, roads, etc.
Let's give these greedy corporates more so they can pay their CEO's millions!
This business is so cyclical and 20,000 square feet is not that much.
Does this mean that if companies are *not* making profits ("obscene" or otherwise), then in that case you would be OK with tax breaks?
Tractor demand worldwide is at an all time high and here is a company (CNH) making obscene profits asking the taxpayers to take a cut so they can benifit more!!! What gives with these greed mongering corporates that they dangle a tiny carrot sayings "we will give you a few jobs if you play by our rules".....DO NOT GIVE THEM ANY BREAKS!! They need to and will expand to keep up with demand! They will build regardless of tax break or not. If they had any corporate morals, they would not be asking for an unneeded tax concession, they would be thanking us for our unprecidented support. Just like Agco asking for an interest free loan to expand.....come on America....wake up....look at the profits CNH and AGCO are making and start demanding support from these greedy companies. They are getting plenty of support from us taxpayers by all the product we are purcasing from them. If we weren't, the obscene profits would not be there.