economic development

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

May 10, 2015

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.

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.


Sun. Headlines: CMPD Officer Shoots Teen

Mar 8, 2015

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.  

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.

Charlotte City Council Approves Frito-Lay Incentives

Feb 24, 2015

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.

Report Finds NC Incentive Program 'Fails'

Feb 18, 2015
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.


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.


©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.


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. 

James Willamor

Nearly a year after negotiations began with the city of Charlotte, the company aiming to redevelop Bojangles Arena into an amateur sports complex is still trying to secure financing, according to a staff update to the city council’s economic development committee Friday.

The city has been in discussions with the developer, GoodSports, since last December. Mayor Pro Tem Michael Barnes says the city is just performing due diligence.

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