WEDC board OK'd Ashley Furniture getting $6 million tax credit, cutting 1,900 jobs

[hue]

http://host.madison.com/wsj/news/local/govt-and-politics/wedc-board-ok-d-ashley-furniture-getting-million-tax-credit/article_6fe5690f-64d0-5829-bc51-3dc59533abe9.html

The board overseeing the state’s flagship job-creation agency has quietly approved a $6 million tax credit for Ashley Furniture Industries with a condition allowing the company to eliminate half of its state workforce.

As approved by the Wisconsin Economic Development Corp. board, the award would allow the Arcadia-based global furniture maker to move ahead with a $35 million expansion of its headquarters and keep 1,924 jobs in the state.

But it wouldn’t require Ashley to create any new jobs, instead granting the company license to lay off half of its current 3,848 Wisconsin-based workers in exchange for an enterprise zone tax credit, one of the most valuable and coveted state subsidies.

The board’s decision has not been made public because a contract with the company has not been finalized. But in a statement Friday, in response to questions from the State Journal, Ashley Furniture confirmed it is seeking state subsidies that include terms allowing for job reductions.

[Dyedinthewoolliberal]

1. I'm looking for a new bookcase

and it won't be made by this company.........

[Scuba]

2. Crappy, partical-board furniture made by a Walker donor. Ashley gave Walker $20K a couple weeks ...

... after getting their tax credit.

http://www.winonadailynews.com/news/local/ashley-gave-to-walker/article_268813fd-9bdf-5561-802d-633b908bf496.html

Ashley gave $20,000 to Walker

Less than a month after the Wisconsin Economic Development Corp. board approved a $6 million tax credit for Ashley Furniture Industries, the company’s owners gave $20,000 to Gov. Scott Walker’s re-election campaign....

[Gothmog]

3. This issue will hurt Scotty Walker