Wealthiest Egyptian Co. Using Taxpayers’ Millions for Fertilizer Plant in Iowa, Mississippi R. Flood Zone

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From the-912-project.com and the name of Soros has been floated…

The good, bad, ugly & downright dirty details of a foreign investment that could go bad, very bad:

Good: Lee County and Iowa are working hard to bring 165 jobs to Wever, Iowa, a small community near the Mississippi River.

This photo was taken not far from the possible construction point of the Iowa Fertilizer Company

Bad: The jobs will be with a nitrogen and ammonia fertilizer plant below the river level and protected by levees that gave way in the Mississippi River flood of 1993. If you have so quickly forgotten about this record flood, here is a case study providing many of the ugly details of the flood of 1993 and contributing factors to the historic flood.

Ugly: Taxpayer money will be used to fund the project through tax credits and tax exempt bonds, costing more than $200,000 per job.

The Downright Dirty: Proposing the project is Egyptian-based Orascom Construction Industries (“OCI”), owned by the Sawiris family (the wealthiest family in Egypt), but is proposing to invest only approximately 8% of the funding for the project due to “high risk”, which will leave the rest of the funding on U.S. taxpayers’ backs.

Questions that will soon be answered in a series of articles soon to come which will expose everything about this breaking story:

continues with excellent questions and promised answers

Addendum, a comment particularly for Iowans, added as follows:

james remus says:

Please sign our petition opposing this deal at http://www.wearelee.com .

h/t: @Boogiefinger

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Comments

  1. Please sign our petition opposing this deal at http://www.wearelee.com .

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