North Carolinians split on economic incentive programs

By | Posted in Budget & Taxes, Economics |

With the Solyandra controversy in the news, one would hope that North Carolinians would recognize the dubious value of  government intervention into free markets. With an eye on the then-developing “Project Soccer” deal to provide massive financial incentives to lure a new manufacturing plant to Brunswick County, Civitas’ September polling asked whether governments which provide government cash and tax breaks to lure specific companies to locate within the state. Despite evidence that these programs don’t meet the hype that often surrounds these often shady deals, North Carolinians are still slightly in favor of these programs, according to Civitas’ September poll results:

The state of North Carolina is considering spending in excess of $30 million on an economic incentive package for a corporation to build a new manufacturing plant. People who oppose spending taxpayers funds in this way refer to this type of spending as “Crony Capitalism” where politicians pick favored companies to give money to. People who support spending the money say it is needed to create jobs. Do you oppose or support economic incentives of this type?

Strongly support

27%

Somewhat support

19%

Somewhat oppose

15%

Strongly oppose

24%

Undecided/don’t know/refused

15%

These poll results reflect conflicting priorities on the part of North Carolina residents. While 39% of residents oppose or strongly oppose this particularly large economic incentive program, 46% are in favor of the idea, despite the tinge of “crony capitalism”.  It is likely that in a time of double-digit unemployment, residents are likely to welcome heavily promoted opening of a major new factory with nice, round numbers of new jobs that will supposedly materialize.

 

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