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A Small Wisconsin Town Bet Big on a Biodigester. Now the Project Is Defaulting on Its Loans.
(sentientmedia.org)
“It’s just directly extracting wealth from our communities and giving it to high-income people. And it’s blatant. It’s not subtle at all,” Lisa Doerr, a Wisconsin hay farmer and advocate with Sustain Rural Wisconsin Network, tells Sentient. When any type of company typically opens in a city, they’re charged taxes. Because the financing for the digester was via municipal bonds, the financing was tax-exempt. The $41.5 million project has defaulted on its principal payment, reducing the likelihood of project longevity, and therefore, future tax revenue that could go toward schools and other public services in Gillett.
Typical grift by big corps to fuck Americans. This is the type of shit that starts civil wars.