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Olympia, Thurston County, Washington
What is this article about?
Aberdeen's recent agreement with the Panel and Folding Box Co. to locate a factory there, involving a donated site and cash subsidy, collapsed shortly after when the company backed out, mirroring Olympia's experience nearly 30 years ago with the Northern Pacific Railroad's salt-water terminus on Budd's Inlet, which was also reneged upon due to a land ring's influence, leading the railroad to invest in Tacoma instead.
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Where did it happen?
Domestic News Details
Primary Location
Aberdeen
Outcome
the panel and folding box co. backed out of the agreement after receiving site donation and subsidy in escrow, folding its tent and stealing away; expected to invest in hoquiam instead, similar to the railroad's shift to tacoma.
Event Details
Aberdeen provided a site and monied subsidy to induce the Panel and Folding Box Co. to locate its factory there, following full examination of the location. The company accepted but soon reneged on the agreement, playing a deceptive game before departing. This parallels Olympia's nearly 30-year-old experience with the Northern Pacific Railroad, which agreed to a salt-water terminus on Budd's Inlet after receiving compensation but was compelled by the Lake Superior and Puget Sound Land ring to violate the pledge and invest in Tacoma.