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Political notes from Free Press staff writers Terri Hallenbeck, Sam Hemingway and Nancy Remsen



Firm promises 43 jobs

The firm coming to St. Albans is BEMAG Transformers of Quebec, a transformer manufacturer.

BEMAG Transformers manufactures dry-type electrical transformers at a facility in Farnham, Quebec, but was nearing production capacity at that plant as it moved forward with plans to expand its share of the North American transformer market, according to the governor's office.

“The job creation and workforce training incentives Vermont offered helped seal the deal,” Christian Roberge, vice president and chief financial officer of BEMAG Transformers, said.

BEMAG will be given Green VEGI incentives totaling $267,569 and $106,000 in employee and manufacturing efficiency training from the Vermont Training Program. The Vermont Economic Development Authority (VEDA) also approved $718,000 in financing assistance.

The company estimates it will create 16 new jobs in 2009, and will ramp up to 43 workers by the end of 2011, according to the governor's office.

Vermont Transformers is eligible to earn a maximum of $267,569 in job creation incentives over three years if they meet and maintain payroll, employment and capital investment targets each year. The incentives would be paid out over seven years, if the jobs are maintained.

- Terri Hallenbeck

If I understand this post correctly, the Douglas administration is trumpeting the fact that it is "creating" 43 jobs for a total state investment of $1.359 million. Wow, the taxpayers are spending $31,608 per job...those must be some jobs. Way to go, Governor. You're really on a roll now.
Let's get this straight:

$1,081,569 to create 16 jobs. That is $67,598 per job. Now that sounds like a good job!
New jobs, new companies coming to Vermont - that's a good thing, right? And the VEDA money is a loan - so the company pays it back. We have lots of problems in this state, this is not one of them.
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