The fertilizer plant under construction in southeast Iowa was a major point of contention during Saturday evening’s debate between the two major party candidates for governor. The incumbent, Republican Terry Branstad, defended his administration’s decision to award 110-million dollars’ worth of state incentives to the Egyptian company that’s building the plant near Wever.
Democratic challenger Jack Hatch says the state incentives are worth 700-thousand dollars per job and that’s a “bad deal” for taxpayers.
Branstad says the net result is the Fort Madison School District and Lee County will get net plus of $2.9 million additional tax revenue every year and the State of Iowa is also going to gain revenue.
Hatch says rather than giving 110-million dollars’ worth of incentives to one company, there would have been greater economic impact if that money had been spread out among businesses statewide.
