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This is actually kind of silly. There's usually never any evidence that a startup will indeed go bust. Otherwise they would never get the amounts of funding needed to launch the venture. On the other hand, there had better be substantial evidence that they will succeed, or else a bunch of fools are investing money unwisely.
These arguments being made by NC Observer and others are not about there being any evidence for success or failure. These arguments are simply based on the reality of risky startups (which this is, regardless of how you spin it) and the fact that the state has authorized a huge incentive package for a company with a high risk profile. It's just that simple.
Is the terms of the incentive package known?
I would imagine there would be clawback provisions, maybe it's tax breaks, etc. where the state would be relatively guarded from any significant adversity.
I would imagine there would be clawback provisions, maybe it's tax breaks, etc. where the state would be relatively guarded from any significant adversity.
I know that the state is spending $ 106 million up front, the first year, just to lure (bribe) BOOM to set up at PTI. It may be years before any manufacturing begins, if ever. Roy Cooper should have consulted with Ron DeSantis before pursuing this pipe dream, or, simply read the WSJ and NYT articles.
I know that the state is spending $ 106 million up front, the first year, just to lure (bribe) BOOM to set up at PTI. It may be years before any manufacturing begins, if ever. Roy Cooper should have consulted with Ron DeSantis before pursuing this pipe dream, or, simply read the WSJ and NYT articles.
This has Dell written all over it.
Dell would be optimistic. At least that got going and employed people.
I'm not sure this ever gets built. If not, hopefully that means no/few wasted funds. In fact some of the upfront money goes towards improvements that are helpful anyway.
Something tell me the folks from Raleigh on here would be screaming at the top of their lungs with excitement if Boom Supersonic had chosen RDU Intel Airport.
The skepticism for this project is just unfounded and is based on what some think or want to think and not the facts.
Something tell me the folks from Raleigh on here would be screaming at the top of their lungs with excitement if Boom Supersonic had chosen RDU Intel Airport.
The skepticism for this project is just unfounded and is based on what some think or want to think and not the facts.
What are those facts that disprove the skepticism?
What are those facts that disprove the skepticism?
Everyone is basing their skepticism on the fate of the Concorde. This is a different time, different technology and different economics. The technology involved well help keep tickets costs around the same as typical airlines prices while at the same time ensure the company is not losing money. Also the technology involved greatly minimizes the sonic boom noise level which was a major issue with the Concorde.
I have not seen anything that specifically states this. Do you have a link that verifies that?
"House Bill 334 would appropriate $106.75 million in state Job Development Investment Grant funds for fiscal 2021-22 to “a high-yield project for an airplane manufacturer” at PTI." The state would provide $106.75 million in a Job Development Investment Grant, with some $15 million to be used for site work at the airport, $35 million for roadwork through the NC Department of Transportation and $56.75 million for the airport to use “for the construction of one or more new hangars.”
I don't see a problem with the site improvements, but BOOM should build their own buildings. One problem is that they don't have much money and they can't afford to do so.
Everyone is basing their skepticism on the fate of the Concorde. This is a different time, different technology and different economics. The technology involved well help keep tickets costs around the same as typical airlines prices while at the same time ensure the company is not losing money. Also the technology involved greatly minimizes the sonic boom noise level which was a major issue with the Concorde.
You honestly think that BOOM’s technology would allow airlines to charge normal ticket prices to fly on a supersonic jet, and both to still make a profit?
Everyone is basing their skepticism on the fate of the Concorde. This is a different time, different technology and different economics. The technology involved well help keep tickets costs around the same as typical airlines prices while at the same time ensure the company is not losing money. Also the technology involved greatly minimizes the sonic boom noise level which was a major issue with the Concorde.
Everything you stated sounds nice.
They also have yet to prove their concept in any way shape or form. They're a start up with zero track record of success, only speculation and hope. The closest related competitor recently went out of business after doing... well.. effectively nothing.
If this company had built and flown some planes, that would be one thing. But this company has an idea and really little more right now. The failure rate for these of projects is higher than the theoretical altitude this plane would fly.
The facts you laid out are just general tidbits that could apply to literally any company in this space (including random people who decide to just and start a company in this space). And yet, none of the technology is proven yet.
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