Grumbelings

I am starting to hear grumblings about what I warned about 2 years ago.

Tenvesco.

The Tenvesco plan was a state taxpayer backed and funded "Bank" for loans to private companies who would "bring in jobs" into Tennessee. The down side was there was little to no recourse to recoup funds if the business failed to live up to expectations. A few years ago the state went ahead and pumped tens of millions of dollars into this plan in the name of "Economic development".

You may recall I feared it would turn into a slush fund for cooperate friends of government and never produce the jobs it promised. Frank Nicley did a great job railing against it on the house floor.

Sure enough, just like the switch grass fiasco, Tnvesco is following down the same path of failure. After all the money invested, under 200 jobs have been created. Cost for each job? Almost a million dollars each.

Let the investigations begin.