Civil Service Test Pilot Tony Arrington (right) speaks with simulator engineers about the characteristics of a TH-1H helicopter at FlightSafety International in Broken Arrow. Tulsa World file
By World's Editorial Writers
Published: 10/8/2009 2:27 AM
Last Modified: 10/8/2009 4:02 AM
It's corporate welfare and practically extortion, but there's no way Broken Arrow won't have to go along with a "request" from a manufacturer for free land and $6.6 million to help build a new facility.
FlightSafety International, which manufactures flight-simulator machines and is a solid employer in Broken Arrow, has asked for a dollar-a-year lease on 17 acres of city land near the southeast corner of 71st Street and Lynn Lane and the money to pay for an expansion of its facilities that might eventually mean 1,000 new jobs.
On the other hand, acting City Manager David Wooden says FlightSafety has heard from other cities suggesting possible relocation of its Broken Arrow facilities.
Broken Arrow city councilors voted unanimously Tuesday for several measures to study the issue, and who can blame them?
The city is looking at an economic development bond funded by a tax-increment financing district. Taxes from the district would be diverted to paying off the bonds in nine to 25 years.
That means the city grows and prospers, but it also means the taxpayers in the community have to shoulder a bigger portion of the burden just to stay even.
FlightSafety International — which has 687 employees in Broken Arrow among its total work force of about 4,000 — is owned by Berkshire Hathaway Inc., the holding company run by gazillionaire Warren Buffett.
So, one of the world's richest men is telling Broken Arrow that it can have more good-paying jobs, but it'll
have to pay for them. Or it can face the prospect of losing jobs to other cities that are willing to play ball.
It's galling, frankly, but the choice is obvious.
By World's Editorial Writers
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FlightSafety International, which manufactures flight-simulator machines and is a solid employer in Broken Arrow, has asked for a dollar-a-year lease on 17 acres of city land near the southeast corner of 71st Street and Lynn Lane and the money to pay for an expansion of its facilities that might eventually mean 1,000 new jobs.
On the other hand, acting City Manager David Wooden says FlightSafety has heard from other cities suggesting possible relocation of its Broken Arrow facilities.
Broken Arrow city councilors voted unanimously Tuesday for several measures to study the issue, and who can blame them?
The city is looking at an economic development bond funded by a tax-increment financing district. Taxes from the district would be diverted to paying off the bonds in nine to 25 years.
That means the city grows and prospers, but it also means the taxpayers in the community have to shoulder a bigger portion of the burden just to stay even.
FlightSafety International — which has 687 employees in Broken Arrow among its total work force of about 4,000 — is owned by Berkshire Hathaway Inc., the holding company run by gazillionaire Warren Buffett.
So, one of the world's richest men is telling Broken Arrow that it can have more good-paying jobs, but it'll
It's galling, frankly, but the choice is obvious.
By World's Editorial Writers
Related Links
Share Investor Blog - Stockmarket & Business commentary
Share Investor New Zealand Business News- Get more business news
Discuss this topic @ Shareinvestor.net.nz
Share Investor's Daily Forex Updates
Recommended Amazon Reading
Security Analysis: Sixth Edition, Foreword by Warren Buffett (Security Analysis Prior Editions) by Benjamin Graham
Buy new: $47.25 / Used from: $41.94
Usually ships in 24 hours
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