Archive: Economic Incentives

  • Johnston Commissioners Reject CSX Rail Terminal

    RALEIGH — At an emergency closed-session meeting Wednesday night, less than a week after Gov. Pat McCrory announced a $272 million CSX rail terminal project near Selma, the Johnston County Board of Commissioners issued a statement opposing both the project at the current location and the railroad company’s threats to…

  • State Urged To Drop ‘Tier’ System For Development Grants

    RALEIGH — Saying the current plan is antiquated, a legislative agency on Monday recommended that the state scrap its three-tiered system for awarding economic development grants. “The economic development tier system, which was designed to award tax incentives, has outlived its purpose,” said Sara Nienow, senior program evaluator at the…

  • Expert: Salisbury’s Investment In 10 Gig Broadband ‘Silly’

    SALISBURY — The city of Salisbury’s website boasts that it is “America’s first 10 gig city,” noting that anyone who connects to the municipal Fibrant broadband network has access to Internet connection speeds of up to 10 gigabits per second. But a technology analyst questions the wisdom of city leaders…

  • N.C. Counties Promised $284 Million In Incentives Over Five Years

    RALEIGH — N.C. counties entered into incentives contracts totaling nearly $284 million from 2009 to 2014, according to a first-of-its-kind John Locke Foundation Policy Report compiling statewide local incentives data. The report shows actual incentives payments totaled $144 million over the same five-year period. Report authors urge the N.C. General…

  • Green Tax Credits Big Business for Big Business

    RALEIGH — While Duke Energy is passing higher costs to ratepayers because state law forces it to purchase renewable energy, the utility also claimed $62.8 million in tax write-offs in 2014 for its own investments in green power projects.

  • House Budget Faces Uncertain Future

    RALEIGH — An unusual coalition of 12 liberal Democrats and 11 conservative Republicans comprised the only formal opposition to the $22.1-billion General Fund budget passed around 1:00 a.m. May 22 by the state House of Representatives. The spending plan, approved by a 93-23 vote, is expected to undergo dramatic changes…

  • Spirit’s Job Numbers Far Below Expectations

    RALEIGH — Although the Spirit AeroSystems facility at the Global TransPark will not receive all the incentives it could have, critics call any purported "savings" beside the point. They say it's impossible to predict how a company will perform, calling into question whether economic incentives really are the key to…

  • Senate Plan Would Cut Corporate Taxes, Cap Incentives

    RALEIGH — Senate Republicans are pushing bills to reduce the state corporate income tax rate from 5 percent this year to 3 percent in 2017, and restructure the manner in which corporate taxes are calculated. The intent behind the legislation is to make the state more business-friendly and better able…