This is a recent update on the ongoing incentives debacles across our great state from the NC Institute of Constitutional Law.
$100,000 in additional incentives has been approved for Innovative Emergency Management (IEM) by commissioners in Durham County on January 11th. The company has also been granted a $150,000grant from the state’s One North Carolina Fund and could get as much as $9,000,000 in income tax rebates as part of a Job Development Investment Grant.
~ Ray Gronberg, Herald Sun, January 11, 2010
Incentives are being debated by state, county and town officials to keep ConAgra Foods in Garner. We all remember the June 13, 2009 explosion that killed four workers and injuring dozens more. The company has since shifted some of its Slim Jim operations to other sites and local officials want to make sure the remaining operations stay in Garner. ConAgra expected to see an incentives proposal by January 15, but officials say they will have one by Friday, January 22. The incentives package could climb into the millions of dollars.
~ Sarah Nagem, News & Observer, January 16, 2010
The Charlotte Observer reported in a January 13 article written by Dan Nephin that a recent study advises against states being involved in incentives war.
The study found minimal difference in tax rates among Pennsylvania and the other six states – Maryland, New Jersey, New York, North Carolina, Ohio and West Virginia – when taking economic development incentives into account. The authors also conclude that most companies that get tax incentives would have chosen that state or locality anyway.”