economic development

Local News
11:35 am
Fri June 12, 2015

Non-Profits Worry About Caps In NC Senate Plan

Credit NC General Assembly



The North Carolina Senate’s economic development proposal lays out some changes for non-profits when it comes to contributions and collecting sales tax refunds. Many non-profits say they’re not good ones.   

The Senate plan sets some limits. It would include charitable contributions as part of a $20,000 cap on all itemized deductions. 

Read more
Local News
9:23 am
Sun May 10, 2015

Sun. Headlines: Volvo coming to S.C.?

Swedish auto maker Volvo apparently has picked a site in South Carolina for its first U.S. plant.  Georgia was the other finalist, but the Atlanta Journal-Constitution reports that officials there learned Friday the state won’t be home to the $500 million plant.

Read more
Local News
8:51 am
Fri March 20, 2015

Split On Incentives Reflects General Assembly's Geographic Divide

Credit Jim Bowen / Flickr

Governor Pat McCrory has made replenishing the state’s economic incentives fund one of his top, immediate priorities. This week Republican leaders in the Senate introduced their own plan, which differs significantly from the governor’s. It sets up a debate over incentives, but also falls into a larger, intra-party fight that’s as much regional as ideological.

Read more
Sunday Headlines
9:55 am
Sun March 8, 2015

Sun. Headlines: CMPD Officer Shoots Teen

A Charlotte-Mecklenburg police officer shot a teen Saturday night after a party on North Tryon Street turned violent. Police were called to the 1400 block of North Tryon Street around 8:30pm, where they found a group of teens. A short time later, a 911 call reported gunshots a couple of blocks away, in 1200 block of N. Tryon.  

Read more
Local News
4:34 pm
Wed March 4, 2015

Economic Incentives Move Toward Final Vote In NC House

Credit Jim Bowen / Flickr

A bill containing tax breaks to lure businesses to North Carolina passed its first vote in the state House of Representatives, although it divided both parties. The bill expands several economic incentives, but sponsors emphasized one goal in particular: to lure a carmaker to the state.

Read more
Local News
6:03 am
Tue February 24, 2015

Charlotte City Council Approves Frito-Lay Incentives

The Charlotte City Council approved a $3 million package of tax breaks for snack maker Frito-Lay to expand in the city.  

The maker of Fritos, Lays, and other potato chips and snacks has about 560 employees at a warehouse and distribution center in southwest Charlotte. Under the terms of the deal, Frito-Lay will receive $1.2 million in tax breaks from the city and another $2 million from Mecklenburg County. In return, Frito-Lay will create at least 30 jobs.

Councilwoman Vi Lyles says that’s a modest amount, but argues the deal makes sense.

Read more
Local News
7:52 pm
Wed February 18, 2015

Report Finds NC Incentive Program 'Fails'

The NC Justice Center's report "Picking Losers" says the state's main economic development incentive program is ineffective. This chart from the report shows the percent of projects terminated by county.
Credit NC Justice Center

Governor Pat McCrory wants lawmakers to give his administration more money to lure businesses to the state. The state’s main fund, the Job Development Investment Grant program, is nearly out of money. But, a new report from the liberal North Carolina Justice Center argues the JDIG program is ineffective. WFAE’s Ben Bradford joined All Things Considered host Mark Rumsey.

Read more
Local News
10:01 am
Fri January 16, 2015

This Week's Troubles Heighten Scrutiny Of Amateur Sports Deal

A drawing of the proposed amateur sports complex, with hotel and fieldhouse.
Credit GoodSports

This week, while problems with two of Charlotte’s major economic development deals held the spotlight, the City Council also considered entering a third. The council’s economic development committee met Thursday to discuss creating an amateur sports complex in east Charlotte. But after this week’s turmoil, there were plenty of skeptics.

Read more
Local News
6:30 am
Tue January 6, 2015

Charlotte Strikes Deal To Waive Debt From NASCAR Hall Of Fame

Credit ©Sean Busher and NASCAR Hall of Fame

Charlotte officials have struck a deal to forgive roughly $20 million in debt the city owes for the NASCAR Hall of Fame. Billed as an economic boon, the facility has never broken even since it opened in 2010, and has failed to pay off its original loans.

Read more
Local News
5:54 pm
Wed November 26, 2014

Caldwell, Burke No Longer Among Most Distressed NC Counties

The NC Department of Commerce's new tier designations for 2015. Blue is Tier one. Green is Tier 2. Yellow is Tier 3.
Credit NC Department of Commerce

For many years Caldwell and Burke counties have been on the state’s list of most economically distressed counties, but not anymore. 

The state deemed Caldwell County one of its worst off counties in 2005. The county was losing hundreds of textile and furniture jobs and things got worse. 

“February 2010 was our lowest point when our headlines read 17.6 percent unemployment,” says Deborah Murray, the director of the Caldwell County Economic Development Commission. 

Read more