Feb 29, 2016
The governor of Maryland has just proposed a 20-million-dollar loan from the state’s Sunny Day fund to help out one of its largest corporations, Northrop Grumman. Supposedly the loan would ensure that Northrop keep one of its division headquarters in Maryland and maintain some 10,000 jobs.
We all know these kinds of deals don’t ensure jobs. The last time the state of Maryland used Sunny Day funds for an employer was Bechtel Corporation in 2011. A loan was approved to retain 1,250 jobs. Three years later Bechtel moved 1,000 jobs to another state.
It’s nothing but a handout to another super-wealthy corporation. Northrop Grumman is a 23-billion- dollar a year military contractor with two BILLION dollars in profits last year. It wants to get wealthier still, feasting on money stolen from our schools, our roads, our pensions, our public transit, etc.!