Job Creation Penalty



A development company has agreed to pay 2.75 million dollars in damages for falling short of a promise to create 2,000 jobs with a three-building complex in La Crosse.
 
The La Cross Tribune reports that after agreeing to pay the damages, Weber Holdings was awarded purchase rights to a city-owned parking lot that may become the site of a fourth building.

As part of its agreement with the city, the company headed by Logistics Health Inc. chief executive Don Weber was supposed to create the new jobs by Jan. 1, 2013. But the city says that to date, 1,400 to 1,800 jobs have been created.

Mayor Tim Kabat says Weber didn't try to avoid the penalty after missing the deadline, and has shown he's true to his word.

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Topics : Business_Finance
Social :
People : Don WeberTim Kabat
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