There goes another one. Evonik Corporation will close its Maryland factory in Havre de Grace, and relocate its production of silica to South Carolina. The closure will eliminate 34 jobs, according to a filing the chemical firm submitted to the state on Wednesday. While the company explains its strategic move with buzzphrases like "economies of scale," there are several obvious reasons why the grass appears much greener in the Palmetto State if you are running a business enterprise.
Industrial electricity rates in South Carolina are 22% less than in Maryland. This is largely due to the forced closure of eight power plants by Maryland elected officials, who have also mandated the purchase of ever-increasing amounts of "clean power," such as solar or wind. In addition, the state has socked energy utility customers with an EmPOWER Maryland fee, that funds a Marxist program that subsidizes the purchase of energy efficient equipment by lower income customers. The end result is that Maryland now imports the majority of its electricity from out-of-state, naturally at greater cost than it had been provided from those shuttered in-state plants. Not to mention that Maryland ratepayers are now receiving record-high monthly power bills.
Maryland's corporate tax rate is 8.25%. South Carolina's is 5%. Doh!
Last year, Maryland Governor Wes Moore and the Democratic-controlled legislature established a 3% tech tax. By comparison, IT consulting, custom coding, and systems design are not taxed in South Carolina.
Finally, Maryland’s average annual pay for chemical engineers is approximately $121,012 to $140,708. In Charleston, the average is roughly $93,975 to $128,000, according to Indeed.com.
Heckuva job, Brownie!
“Finally, Maryland’s average annual pay for chemical engineers is approximately $121,012 to $140,708. In Charleston, the average is roughly $93,975 to $128,000, according to Indeed.com.
ReplyDelete“Heckuva job, Brownie!”
Higher salaries in Maryland are somehow a bad thing to you?
What an utterly bizarre take.
9:54: Cheaper labor costs are clearly a draw in the southern states, as are Right to Work laws.
Delete9:54 must have gone to the AOC school of economics in Boston. Do you know why salaries are higher in some places and lower in others? Can't wait for that eye opening answer.
Delete"This company is relocating so they can pay their employees less and give them less benefits" isn't a flex, Robert.
Delete@5:06 suffering from AOC Derangement Syndrome?
11:53 Illustrates the deficit in a public school education. Explaining it is wasted bandwidth. AOC is the braintrust of the left who loves zero sum gain and has no idea how the real world works.
Delete@2:32 that's some definite AOC Derangement Syndrome. Sad.
Delete@2:32 that some definite AOC Derangement Syndrome. Sad.
DeleteEvonik closed another plant in Waterford, New York (near Albany) last year. It sounds like they are shrinking.
ReplyDelete11:52: Yes, they did. Moving from higher cost states and into a new expanded facility in Charleston, enlarged expressly for silica manufacturing that is being relocated from Maryland and New York.
DeleteWas the Charleston facility actually “enlarged”?
Delete12:28: Yes, expanded by 50% to handle the addition of silica production relocated from MD and NY.
DeleteWhere does it say that?
DeleteThis makes me pine for Maloney Concrete.
ReplyDeleteIYKYK !
DeleteHow long did it take you to make the South Carolina truck clipart?
ReplyDeleteIf it’s not bad news in the county, it’s bad news with a silica plant in northern Maryland.
ReplyDelete"...that funds a Marxist program that subsidizes the purchase of energy efficient equipment by lower income customers." God forbid lower income individuals aren't left to freeze in the winter or bake in the summer. How dare they purchase energy efficient equivalent that will reduce the overall power consumption of the area, thus reducing energy bills for all of us. Helping other people is so Marxist.
ReplyDelete@11:57's strawman argument that if we don't do what the wacko left wants, people will freeze/burn/starve/eaten by locusts. You should get your post HS education money back if you you have any.
Delete@2:36 you paid for my education :) thank you!
DeleteFigured A to be a grifter. This is why you took courses but have no idea what was taught.
ReplyDelete