Incentives

NC Legislature
W Edward Callis III

A package of economic incentives aimed at luring businesses to North Carolina is one vote away from reaching the Governor’s desk.

The Senate swiftly approved the bill on Tuesday, while the House gave a tentative approval, 84-24, after a lengthy and lively debate.

The plan would increase funding for the Job Development Investment Grant (JDIG) program from $15 million to $20 million a year.

It could go as high as $35 million if the state attracts a large project, like an auto plant, that invests at least $500 million and adds at least 1,750 jobs.

North Carolina State Legislature
Dave Crosby / Flickr

Like a flight that keeps getting delayed, House budget deliberations never took off on Wednesday.

The setbacks points to the slow, complex process of passing a state spending plan. They also hint at some divisions and philosophical differences within the Republican Party.

The $22.2 billion budget draft unveiled earlier this week has faced criticism from some conservatives.

CBC Americas, Japan
Leoneda Inge

CBC Americas of Japan is moving its US headquarters from New York to North Carolina.

Japan-based CBC makes flooring and plastics as well as video surveillance products.  Its new offices will be in Cary, with a distribution center in Mebane, creating more than 100 jobs.

Governor Pat McCrory applauded the move. He said the state is helping to make these jobs happen.

The Screen Gems Studios is the largest facility of its kind in the U.S., east of Los Angeles.
Jeff Tiberii

For more than 30 years, the Wilmington area has been a hub for the filming of movies, TV shows and commercials.  Dawson’s Creek and Iron Man 3 are among the hundreds of productions cast in the region.

But earlier this year, a tax credit designed to incentivize the industry expired. Now business owners say with only a few productions remaining, the economic effects are significant.

Port City Signs is a small shop situated along a busy road in this coastal community. It has been around since the 1940s, printing signs, vehicle wraps or decals, and other art.

Photo: The North Carolina General Assembly's Legislative Building
Jorge Valencia

State legislators sparred over job incentives and a change to the gas tax during finance and appropriation committees meetings Tuesday. The bills eventually made it out.

There was opposition from both liberals and some conservatives over the tax breaks designed to lure jobs.

Secretary of Commerce John Skvarla told one committee nobody likes incentives, but that the state must be competitive. The Governor has been pushing for extended and expanded incentives.

A nutrition and skin care company has selected Winston-Salem as the site for its new east coast manufacturing plant. Herbalife will bring nearly 500 new jobs to the city.

The California based company chose a Winston-Salem plant that was previously occupied by Dell. The computer maker couldn't meet certain job thresholds and later returned all of the economic incentives it received from the City and County. Herbalife is purchasing the facility from Dell for $22 million, less than half of the property's value. Mayor Allen Joines.