AMC headquarters may be moving
posted by JoelWeide on March 9, 2011 at 10:55 am
KANSAS CITY, MO — National movie theatre chain AMC, headquartered in Kansas City, Missouri, may be jumping from Missouri to Kansas, in a heated battle that has involved Governors from both Kansas and Missouri.
The Downtown Council of business and property owners is joining the bid to keep AMC. The company has 400 employees at the 10 Main tower.
Mike Deggendorf, chairman of the Downtown Council, told the group at its board meeting Thursday that a delegation recently visited Lopez.
“We wanted to know if there was anything we could do to help out,” he said.
Read more in the Kansas City Star.
Sweet!!! There’s no place like a new home for AMC.
In this country the whole concept of credits for job creation has been perverted. What we have created is a massive shell game.
While there is nothing wrong with tax credits for the creation of new jobs or positions which did not previously exist (or even to retain jobs that might go overseas), what happens in most cases (such as here with AMC) is that you are not creating any NEW jobs but rather just emptying one office tower to fill another one with the same employees down the road (or across the state line) in another jurisdiction. Corporations play one community against another in a bidding war – with the losers being the taxpayers in the communities whose leaders have bargained away the local tax revenues so these leaders can get re-elected by claiming they have “created jobs” or “saved jobs” as the case may be.
And I guess AMC needs all the tax breaks it can get having recently over loaded with executive and management personnel.
I wonder what (if any implications) this move might have for the AMC-controlled Midland Theatre (formerly Loew’s Midland) in Kansas City, MO. While they have recently invested in renovations to the theater to make more, shall we say, multi-purpose (read profitable), not all of the renovations really honored the historic character of the building, but at least it is still there. I have doubted all along though that an outfit like AMC has any real interest in this theater.
Every state and city does the same thing. The state of New Jersey has successfully lured a lot of corporate back-office operations to New Jersey from Manhattan. Rents and taxes are lower in Jersey City.
How can Kansas afford a 47 million dollar incentive credit for a measly 400 jobs?
Good question Al.
I think this is just another case of one of the bankrupt square states incurring huge federal loans while campaigning against the budget deficit and calling the Obama administration irresponsible.
I always Thought there would always be GCC and AMC,boy was I wrong.