In exchange for the $18.5 million, Angie's List is agreeing to hire 1,000 additional workers at an average of $23 an hour. At least, that is what the company and city officials are telling the media and council members. A review of the 22 page "Project Agreement," however, shows that the jobs promise is an illusion.
|Bill Oesterle, CEO|
Bottom line, the Angie's List jobs promise is certainly an illusion, with any mechanism to enforce it for show only. It appears that what we're buying for $18.5 million is a promise that Angie's List will keep its headquarters in Indianapolis through the end of 2020. But even if Angie's List doesn't live up to that promise, the penalty for the company moving is at best a slap on the wrist - a payment to IPS of $1 million and signing a Taxpayer Agreement that only slightly limits a tax assessment challenge for a handful of years. (See Section 10(g), pp. 17-18).