The headline on the Detroit Free Press story wondered if a plan to move the software firm Vectorform into the Royal Oak Barnes & Noble's second-floor space could signal the end of the Main Street chain bookstore, but that kind of ignores a more interesting story. Both the Michigan Economic Development Fund and the city of Royal Oak will use public money to subsidize Vectorform's relocation to Royal Oak from...wait for it...Royal Oak.
Detroit Free Press: he state of Michigan already has tentatively granted $375,000 to worldwide firm Vectorform under its Business Development Program, which extends grants, loans and other deal sweeteners to firms that promise to make investments or add jobs in the state. Vectorform, whose clients include Chrysler and DTE Energy as well as Coca-Cola and Walt Disney, according to city documents, would double its local employment from 70 to about 140 in the next three years.
Under the proposed plan, Vectorform would take over the bookstore’s second-floor space on Main Street, which has a café, children’s books and music sales.
In order to get that delicious government money, Vectorform first had to get Royal Oak to give them 75 free parking spaces. The Royal City Commission approved that little bit of corporate welfare last night. You'd think a growing company with blue-chip national clients could pay for their own parking like ordinary citizens do every day in Royal Oak. Nope.
Some hell of a free market economy we've got here.
Point A on this map is Vectorform's current office. Point B is the Royal Oak Barnes & Noble where the Royal Oak company plans to move.
