According to yesterday’s Richmond Times-Dispatch, Mississippi officials are now demanding that Greentech, a company founded by Terry McAuliffe, repay nearly $6.4 million in public funds.
In July 2011, while McAuliffe was chairman, Greentech promised to bring 350 jobs to Mississippi. This secured millions in state incentive loans. In fact, in the six years since signing the agreement, the company has never come close to this and has now shrunk to only 10 employees. When challenged, Greentech stonewalled and escorted auditors off the property. State officials had to get court orders and subpoenas to force the company to comply. You can read the entire report here.
McAuliffe’s defense is that he left the company in 2012, but he was chairman when the agreement was signed. Now it is the taxpayers that are left on the hook. If you think Greentech and McAuliffe should have to repay the money, e-mail McAuliffe here.