Could Exxon’s ITEP Troubles In Baton Rouge Affect the Entire State Economy? [VIDEO]
Economist Dr. Loren Scott talks with 101.7 / 710 KEEL's Robert J Wright and Erin McCarty about the state's Industrial Tax Exemption Program, and how a recent tax exemption "no" vote in East Baton Rouge Parish for Exxon could send economic shock waves across Louisiana.
Scott tells KEEL listeners how an executive order by Governor John Bel Edwards returned the power to continue exemptions to the parishes and how ending tax breaks for some of the state's biggest employers is affecting local economies. From a Scott article at growlouisianacoalition.com:
"My latest report on the economic impact of ExxonMobil’s four facilities indicates the company employs 6,915 employees and contract workers at an average wage of $74,158 a year — 51 percent above the average wage in East Baton Rouge Parish. For the last 10 years, the company has invested in excess of $250 million a year in capital spending at these plants. Taking into account the multiplier effect, every 10th job in the parish can be traced back to these four plants. Yet, Together Baton Rouge says ExxonMobil is not doing enough."
To read Dr. Scott's complete assessment of the current ITEP situation, JUST CLICK HERE!