$QCOM Goes With Taiwan Over The U.S.

“WASHINGTON (MarketWatch) — When Qualcomm looked to build a multi-billion-dollar chipmaking plant several years ago, a bunch of countries offered incentives to win over the San Diego-based company.

The United States?

“Nothing,” said Greg Farmer, the company’s vice president of government affairs.

Qualcomm QCOM -0.06% , whose chips are used in millions of cell phones, built the plant in Taiwan instead. The U.S. lost out on a number of jobs.

The failure of the U.S. to exert its weight in the fierce global competition for business is all too common, executives say. The federal government does very little to promote business development in the U.S. — either by domestic or foreign companies — and some of its policies in areas such as corporate taxes and immigration drive entrepreneurs away….”

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