The company asked for
While readers have questioned the use of government money to fund a private corporation, local and state officials defend the practice, saying it ensures jobs, tax revenue and economic development.
Moss said the borough council agreed to seek the money for Schott because it would help keep jobs and tax revenue in the borough.
"They came to
The international company developed and is manufacturing its new CoralPorŪ porous glass, a high-performance glass used in the medical, aerospace, defense, and oil and gas industries, at its research and manufacturing site on
Stein said the company had to delay some investments and "move things around" because the grant was less than the company sought. He said Schott is in a global competition with companies subsidized by sovereign nations.
"We like to think the money we take from the public is returned in tax revenue and jobs," Stein said.
The company executive said state Rep.
"This came about when I met
Carroll, addressing another common complaint, estimated that if gaming money were distributed simply to reduce property taxes, the shares would be less than
"The goal here is to advance economic development and advance community projects that are very difficult for local government to complete," Carroll said.
"As a result of the grant that was provided, there will be job growth and revenue growth for the commonwealth," Blake said.
He added that a proprietary technology developed by Schott in
"Third, Schott is a global, multi-national corporation that could do business anywhere in the world, and it chooses to do it in
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