Tuesday, August 21, 2007

That's a Lot of Tic Tacs. Ontario Corporate Welfare

Ontario Premier McGuinty is giving $5.5 million of taxpayer money to Ferrero Canada for its Brantford facility for an apparent upgrade. Ferrero Canada makes Tic Tacs and chocolates.

$5.5 million is a lot of Tic Tacs. They say it is more than a breath mint. It sure is, it is a mint for taking taxpayer cash.

This facility upgrade comes only one year after the $140 million plant opened in Brantford.

Ferrero is one of the world's largest confectionary companies. It is privately held and noone will ever get to see the accounting of how this money will be spent.

If this is the most innovative and successful company whey do they need taxpayer money?

This is the trouble with corporate welfare. Once companies get a taste for it they keep coming back.

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