Welfare Watch: February 2017

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Screen-Shot-2017-02-04-at-9.19.04-AM-300x239Welfare Watch is a monthly column for individuals, nonprofit and private companies in Minnesota’s tech industry that receive government (read: taxpayer) financial support—whether directly or indirectly.

This corporate welfare includes: tax incentives/abatement, grants/loans, reimbursements, subsidy, special favors, etc.

February’s only reported corporate welfare incident was post-mortem, in effect:

It’s The End Of The Line

(For those wondering/asking: yes, we’re aware of ongoing corporate welfare programs such as the angel investor tax credit, the R&D credit, and SciTechsperience — they do not report monthly but will be included accordingly)

RELATED:

Welfare Watch: January 2017

Coming Soon: Welfare Watch

Comments

  • http://twitter.com/casey__allen Casey Allen

    I’m not sure I want to be within a mile of the comment section when the Angel Tax Credit post runs.

    • http://tech.mn Jeff Pesek

      it’s the investors that receive the welfare in the form of tax credits – not the companies themselves. The paper trail only goes so far though, since the investors are not required by law to be disclosed while the investee companies are.

      Just to clarify which party is technically the corporate welfare recipient in the dynamic, while also acknowledging that both are really beneficiaries.

      Transparency and dialogue are healthy…let’s move closer to, not further from, these values.

      • http://twitter.com/casey__allen Casey Allen

        No doubt.

        And I’m not diminishing the work you’re doing here.

        It’s just that, in Hackernews like fashion a topic like this will bring out the soap boxers. Not MY idea of a good time, but I acknowledge, just a part of the process.

        • C Petri

          Casey, re you interested to get info about the lawsuits against GeaCom.
          You were astonished hey got angel investors, but the truth 5 years later,NO SALES and Lawsuits

          • http://twitter.com/casey__allen Casey Allen

            But here’s the thing: when startups go sideways, especially with inexperienced investors backing them, lawsuits happen more than we think. They just don’t get talked about publicly very much.

            But this kind of thing is hardly rare.

            In a year this will be done and everyone will get on with their life.

          • C Petri

            GeaCom resorted to fraudulent claims about orders and shipments.
            Imagined associations with International Customers and USA gov. entities and still do.
            Still seeking investors with Pie in the sky promises, while evidence that the product they
            claim to cure all,is not accepted or salable. in the market.
            This is fraud, not startup going sideways.
            Investors need to see that 6 years and 8 million from investors and no sales
            means STAY AWAY.
            C Petei

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