Comments on Advance Indiana™: City Doled Out $1.6 Billion In Incentives To Eli Lilly

Man, I agree with Indyernie. The world is ending. ...

2009-09-15T19:57:19.978-05:00

Man, I agree with Indyernie. The world is ending.

I would also agree with dcrutch that Eli Lilly should not be in the same category as the Pacers, i.e the Simons. I think Lilly has contributed a lot more to the city than the Simons and gotten less in return than the Simons.

If I understand this right...when Lilly doesn'...

2009-09-15T18:51:03.401-05:00

If I understand this right...when Lilly doesn't produce the jobs promised the city can negate the agreement and start collecting the taxes.
The question is ...will Indy pursue these funds? I hope so.

I'm usually very unforgiving about not being s...

2009-09-15T18:06:35.373-05:00

I'm usually very unforgiving about not being square with the taxpayer. However, I wouldn't exactly rank Lilly up there with the CIB, Colts and Pacers, given the money Ruth Lilly and company have donated over the years. If Lilly is some sort of den of thieves compared to the crew that runs professional sports in this town, please correct me.

Paul- I'm not talking about giving it back. I...

2009-09-15T15:48:20.641-05:00

Paul-

I'm not talking about giving it back. I'm thinking that maybe it is earned going forward. I doubt they got $1.6B up front. It could be possible that they won't earn the incentives going forward, so the entire $1.6B won't be realized.

The Bird, I can't think of one example where ...

2009-09-15T12:37:14.603-05:00

The Bird,

I can't think of one example where any company has ever given back an incentive.

AI- What are the terms on the tax incentives? Is ...

2009-09-15T10:37:35.547-05:00

AI-

What are the terms on the tax incentives? Is it possible that they are long-term incentives received over 10,20, or 30 years? It may work out that Lilly is (or will) giving up the incentives going forward. I think that is important in understanding the full scope of what is happening.

It's called Clawback. The former mayor works ...

2009-09-15T10:29:20.533-05:00

It's called Clawback.

The former mayor works for Lilly. The former Lilly exec-VP is governor.

$1.6 billion is a lot of money to steal.

Gary, I can just see the Office of Corrporation Co...

2009-09-15T10:09:42.274-05:00

Gary, I can just see the Office of Corrporation Counsel enforcing that statute against Eli Lilly and the Simons, can't you? And pigs might fly some day.