Earlier today, VTDigger broke the news that the state Emergency Board (four top lawmakers plus the Governor) had met on very (VERY) short notice to approve two state grants from the Enterprise Fund: $1 million to GlobalFoundries and $200,000 to BHS Composites. And I commented that this is the kind of thing that makes some see the Governor as a slippery dealmaker.
Well, here’s something you didn’t know. TheVPO has learned, as they say, that 50 state lawmakers wrote a letter to the Emergency Board asking it to postpone action on the grants.
The plea fell mostly on deaf ears, as the Board approved the grant on a 3-1 vote.
One of the letter’s signatories was Rep. Chris Pearson (P-Burlington). Via email, he explained the reasoning:
It was my hope that we could consider using the money to help fill the [FY 2017] budget gap or, more urgently, the [FY 2016] budget adjustment challenge.
The letter was written before the EB’s agenda had been publicly warned — which happened only yesterday afternoon. Pearson adds:
Now that it’s clear the money was for Global Foundries it’s puzzling how a company that was given $1.4 billion to take over the plant could find $1 million much of a game changer.
You and me both, but more on that in a moment. First, the political ramifications of this letter.
