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Editorial: Don’t risk public money in attracting businesses



Photos:


Elona Biotechnologies facility under construction in Precedent South Business is funded through the tax district. PHOTO BY SCOTT ROBERSON


Issues involving Greenwood’s involvement with a biotechnology company’s expansion raise serious questions about how the city’s money should be used. Specifically, what is the appropriate use and limits of incentives?

And where do we draw the line between attracting new companies and, in effect, investing in them?

Greenwood-based Elona Biotechnologies developed a new way to make insulin that it said was faster and less expensive. The company hoped to make the drug that diabetics need to regulate their blood sugar more accessible worldwide.

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