Beware of giving cash grants - Comment - Israel News | Haaretz Daily Newspaper
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    • Vernon Marriott
    • 02.02.10 | 09:54 (IST)

    In the early 1980s the UK government had a policy of giving very large grants to companies that set up in depressed areas. Nearly all of the companies that received cash grants went into liquidation within two years after the money had been spent - with little long term return. Companies that did last the course and stayed received tax breaks, help with building costs - but not cash grants. Once Intel has the cash and then decides to leave Israel, what can the State of Israel practically do to recover it? Legal suits like this can drag on for years (the DeLorean litigation went on for 14 years and cost millions).

    from the article: Netanyahu to Intel: Want money? Promise to stay in Israel
    First published 02:17 02.02.10 | Last updated 05:46 02.02.10
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