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Biotech Failure Blamed on State
RALEIGH — State officials botched the recruitment of a biotechnology company because of a power struggle between the Department of Commerce and an economic development agency in northeast North Carolina, officials of the company say. Documents also show that rather than helping the company in negotiations, North Carolina’s Northeast Partnership continued a practice of seeking equity in the companies it recruits. Senate President Pro Tem Marc Basnight appears to wield strong influence over the Partnership, sometimes determining whether and how businesses get state incentives.