Sales taxes were $452 million lower (-50.9%) than last April, and personal income taxes were down $5.7 billion (-43.6%). Corporate taxes were $142 million below (-8.6%) April of 2008.Any business planning to expand in California will demand a tax holiday and/or big incentives.
From the Contra Costa Times:
Ominous signs for California's budget
"Beginning this summer, we face a cash problem unseen in nearly eight decades ... ," said state Controller John Chiang.Here's the California Legislative Analyst's Office "California’s Cash Flow Crisis: May 2009 Update". It makes for horrific reading.
Here's the solar story from PV-Tech:
Suntech Power Holdings, the largest crystalline PV module manufacturer is currently selecting sites for its first production plant outside of China. The company said it was currently evaluating sites in several U.S. States. A site selection is expected within the next 6 months. However, Suntech has made an open request for States and regional locations in the U.S. to contact the company in relation to its site selection program...We're seeing a lot of companies choosing to build close to but not in California:
...States or localities should contact Suntech at firstname.lastname@example.org
Germany's Schott opens new U.S. solar facility
Schott Solar, seeking to capture a big chunk of the U.S. solar market, will unveil a new U.S. facility on Monday that will produce both solar thermal and photovoltaic solar components.
The unit of privately held German glass maker Schott AG said its Albuquerque, New Mexico facility employs 300 workers and will be up to 350 staff by the end of the year....MORE, from Reuters