Addiction, Atkins, Barahiya India, Bihar, Boston Brahmins, Brazil, Bribery, Camden, Camden Not Rising, Camden Rising, corruption, economic development policy, EDA tax breaks, EDA Tax incentives, foreign workers, Governor Murphy, Grow NJ, heroin epidemic, Holtec, Holtec debarrment, Holtec International, Holtec nuclear, Holtec shell companies, India, India toilets, job creation, Kris Singh, Mexico, nanotech, New Jersey, New Jersey tax breaks, Norcross, nuclear dismantlement, nuclear power, nuclear waste, opiod crisis, opium trade, Patna, poverty, poverty rate, property taxes, SMR, SNC-Lavalin, South Korea, Taiwan, Task Force, tax breaks, TVA, UK, United States, University of Pennsylvania
6 minute video, “Camden Not Rising” link: https://youtu.be/oNGeaTO8ooA
This short video shows poverty in Camden and interviews local people:
“Camden Not Rising (official video), Gary GSAM Samuels,
August 18, 2019 This video shows just a short version of some of the truths about Camden NJ. Camden has been robbed by politicians as well as corporations claiming to come to Camden (receiving Tax Breaks) but not hiring Camden Residents….” from video description: https://youtu.be/oNGeaTO8ooA
Holtec Nuclear was given a $260 million tax break over the course of 10 years, in exchange for a promise of creating 250 jobs in the City of Camden NJ. That is a over a million dollars per job. That is over $100,000 per job per year over the course of 10 years. A lot could be done to help Camden for that amount. Meanwhile Holtec continues to apply to import foreign workers, both temporary and permanent, and advertises little for the permanent positions: https://lcr-pjr.doleta.gov/index.cfm?event=ehLCJRExternal.dspQuickCertSearch
Governor Murphy of NJ recently put the tax break on hold pending investigation.
Camden City NJ has a poverty rate of 37.4% https://factfinder.census.gov/faces/nav/jsf/pages/community_facts.xhtml
“Camden rising? As deficit grows, new businesses won’t pay full property taxes for 20 years“, By Nicholas Pugliese July 29, 2019 https://whyy.org/articles/camden-rising-as-deficit-grows-new-businesses-wont-pay-full-property-taxes-for-20-years/
“Was N.J. ‘betting on wrong horse’ in giving Holtec $260M tax break for Camden move?” By Joe Hernandez November 10, 2016: “As part of the state’s deal with Holtec, the company vowed to build a new factory, move 160 current employees from Marlton to Camden, and create another 250 jobs at the new site“. https://whyy.org/articles/was-nj-betting-on-the-wrong-horse-when-it-gave-holtec-a-tax-break-in-camden/
Where is Krishna Singh of Holtec’s money going? He pays for some community toilets in India, but it’s tax deductible and it’s based on matching. He’s not even paying the full amount for maintenance: https://archive.li/eXvUY We can’t even say he’s too cheap because it is a tax write-off for him anyway, according to the article! In 2007 he gave money to the University of Pennsylvania to name a Nanotechnology research center after himself. The $20 million is but a fraction of his $260 million tax break, and is surely a tax write-off. His spent nuclear fuel casks-canisters cost a lot of money, while apparently cheaply made. His son has bought a lot of expensive cars: https://miningawareness.wordpress.com/2019/06/15/holtec-nuclear-waste-can-oligarch-kris-pal-singhs-son-loves-to-buy-multi-million-dollar-fast-cars/
What does Holtec need shell companies for?
From the Task Force created by Governor Murphy on EDA tax breaks:
“Relatedly, the EDA did not have any protocol or written standards for conducting research in connection with companies’ applications for Program benefits. As a result, at least with respect to the applications the Task Force has investigated in detail thus far, some EDA employees conducted independent research to verify aspects of applicants’ factual assertions and others failed to do so, even when relevant information was readily available. For example:
• A simple internet search revealed that one company, Holtec International, had been debarred by the Tennessee Valley Authority, even though Holtec said it had never been debarred in its Grow NJ application. Although such a debarment would have been grounds for the EDA to deny Holtec’s application for tax incentives, the Task Force found no evidence that the EDA discovered Holtec’s debarment. Apparently unaware of the debarment, the EDA ultimately approved Holtec for a $260 million Grow NJ award.
• Another simple internet search revealed that three companies—Conner Strong & Buckelew Companies, LLC, The Michaels Organization, LLC, and NFI, L.P.— committed to move to Camden more than a year before submitting their applications for tax incentives, in which they claimed they were considering relocating to Pennsylvania as a potential alternative. Had the EDA’s employees found this information,4 the EDA may have found these applications materially misleading, and denied an award on that basis. At a minimum, armed with this information, the EDA should have calculated these awards based only on new jobs moving to Camden from outside the State, and the awards to these three entities combined would have been reduced by over $70 million.”Governor’s Task Force on EDA Tax Incentives : Established Pursuant to Executive Order No. 52 (Murphy) First Published Report ” https://www.politico.com/states/f/?id=0000016b-67c1-df00-a9fb-6fe1d7840001 https://www.documentcloud.org/documents/6157686-New-Jersey-Task-Force-on-EDA-s-Tax-Incentives.html
“In one New Jersey county, courtrooms will become a new front in the opioid battle“, October 19, 2018, Philadelphia Inquirer:https://archive.li/1WPYt
According to the article, in 2017, 277 people died of drug overdose in 2017 in Camden County with 60 in the town of Camden itself. George Norcross sits on the Holtec board. His brother, Congressman Donald Norcross, chairs a committee on the US heroin epidemic. Gary “Gsam” Samuels, quoted in the article, is described as a former addict become outreach worker for New Beginnings Behavioral Health in Camden.
Holtec’s Kris Singh is from Barahiya in Bihar, India, which was historically central to the opium trade. It is downriver from Patna, Bihar, which was an important opium processing and warehouse storage center. We don’t know if this Norcross family is the Boston Brahmin Norcross family. Nor have we found out if the Boston Brahmin Norcross family engaged in the opium trade. Some Boston Brahmin families did.
According to the 2007 article below “More than 80 percent of all spent nuclear fuel produced in the United States, South Korea, Mexico, Brazil, Taiwan and the United Kingdom is stored with Holtec equipment.” See: “Alumnus Krishna Singh Gives $20 Million to Penn’s School of Engineering and Applied Science – Penn Today – University of Pennsylvania Aug 3, 2007 · PHILADELPHIA — Krishna Singh has made the largest single gift in the history of the School of Engineering and Applied Science at the University of Pennsylvania. The $20 million gift will create the Krishna P. Singh Center for Nanotechnology …” https://archive.li/vqjS9
A few related posts:
Do a search for Holtec in this blog for more.