Dell’s revised land deal with Winston-Salem is the subject of a Register article with the headline, "Dell Sucks Another $7 Million Out of North Carolina."  Here’s a couple of excerpts:

Originally, Forsyth County and Winston-Salem officials had agreed to
front the cost of the 200-acre site housing Dell’s new plant. But
lawyers negotiating the deal grew concerned that, among other things,
the arrangement made it possible for Dell to sell and profit from land
the city bought. Hence the new deal in which Dell kind of, sort of pays
for the land but doesn’t really. The Winston-Salem City Council
approved the change this week and is in the process of signing new
contracts, The Register has learned.

"Now, Dell pays us directly for the land," said Derwick Paige,
assistant city manager of Winston-Salem confirmed in an interview with
us. "However, of the $7m that they pay us, we will put all the money in
a general fund and take $1.5m to put toward infrastructure improvements
and the other $5.5m we’ll give to them over a two year period in the
form of grants."

With the extra $7m, Dell’s total North Carolina incentives package
now comes to $284m. That’s $244m more than Virginia, the second leading
bidder for Dell’s factory, was reportedly willing to offer.

Dell’s package includes the land money, tax breaks, police
protection, special Dell training classes at local colleges, new roads
and a host of other fixes. In return, Dell could deliver as many as
1,600 jobs to the city, although it can fire close to half that amount
and maintain the package perks. Locals have complained that the company
has received unfair advantages that will harm smaller businesses. The
net benefit for employment in the city is far from clear.

Ouch.

Still, I have to say that even with all these incentives I’m still glad that Forsyth County won Dell.  Sure we probably overpaid, but the long-term economic affect is more than likely going to be very good.  Stay tuned.

Cross posted at Winston-Salem Business.