15 September 2009

Half-million in free money for local business

Called a contribution, $500,000 handed out today to a local offshore supply and service company from the provincial government doesn’t have to be repaid.

The criteria for getting the cash are, in a word, vague.

The promotional material talks about technology transfer and large-scale local enterprises.  The actual eligibility criteria are much less stringent.  The job creation and other benefits to flow from the project are – in the words of the business department – required to be merely “incremental”.