Posted on 06/23/2017 10:26:16 AM PDT by 2ndDivisionVet
RALEIGH — More than 8,000 new jobs could be lured to North Carolina under a new corporate incentive program included in the state budget, House Speaker Tim Moore said Thursday.
Moore explained a budget provision that would allow larger incentive packages for companies that invest more than $4 billion in the state and create at least 5,000 jobs. Those companies wouldn’t be subject to the state’s current cap on incentive packages.
“We’re on the cusp of maybe landing a major industry in this state,” Moore said....
(Excerpt) Read more at newsobserver.com ...
How can this be?? I thought we were told business reacted in horror to the NC transsexual bathroom bill. We were told that the state was unsafe that LGBT types had no safe space there. We were told that the NCAA and NBA were not wanting to hold major events in that state due to alleged concern about safety of visitors to that state.
Weren’t businesses supposed to.punish North Carolina??? What’s going on here?
FOXCONN, or GE aircraft engines?
Both are reported to be looking. Lafayette, In (Purdue) wants the GE project, badly.
Bait & Switch: “Economic Development” in the States
http://mises.org/library/bait-switch-economic-development-states
It’s about time NC woke up and understand tax incentives. SC has been eating our lunch for years.
NC got rid of the tax incentives for filmmaking a few years ago. I think Georgia picked up most of the business NC lost.
NC got rid of the tax incentives for filmmaking a few years ago. I think Georgia picked up most of the business NC lost.
Of course American governments are bait and switch on economic incentives to lure new business and jobs. Rob Peter to lure Paul. You can argue use of tax incentives for economic development moves government into the realm of investment banking, a hardly constitutional activity. Yet it is the only game in town.
Do I have this right ? You don’t like tax breaks ?
Let's say my view is evolving. I realize tax breaks are a big part of the way the economic development game is played. South Carolina would still be cotton fields and peach orchards instead of BMW, Boeing, and Volvo. Still a part of me sees tax breaks that are not available to all on an equal basis (i.e. lower tax rates) as being unfair. Then again, please check my tag line to confirm your suspicions of me.
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