I fully understand and agree with the reasons why it is good for our area to keep Alpha Natural Resources in the area. It is the process that our country has accepted to recruit industry that reeks. When is an incentive a bribe? Alpha Natural Resources is not a “mom and pop” business struggling to survive.
According to its Web site, 2008 net income was $67.4 million and its liquidity position at the end of this year’s third quarter was $1 billion. Bristol city is giving the entire Sugar Hollow Complex, 79.2 acres. Virginia is giving $4.4 million worth of incentives. The city and the state tax you the people for this money. Alpha could afford to pay its own way.
Alpha is proud of its support of the community and we are grateful. The company gives $25,000 to the University of Kentucky for scholarships, another $25,000 is generated by their sponsorship of the golf classic benefitting Southwest Virginia Community College. Beneficiaries of the company’s generosity include Barter Theatre, University of West Virginia and the list is long and genuinely appreciated. Could not the city and state fund these schools and communities with $4.4 million? Again, it is the process that stinks.
Ronnie Frazier
Abingdon, Va.
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