Economic Incentives

Corning Inc.

Updated 11:20pm
Corning Optical Communications has picked a site off I-485 in northwest Charlotte for its new $38 million headquarters, a spokesman said Tuesday.

Corning Optical Communications plans to move its headquarters from Hickory to a new $38.7 million office building Charlotte in 2018. A spokeswoman said the company is looking at sites off I-485 northwest of Charlotte, and hopes to announce the location by April 1.

Ben Bradford / WFAE

Governor Pat McCrory stopped in Charlotte Wednesday—ostensibly to announce a financial company will bring new, high-paying jobs to the city. But the governor also used the opportunity to stump for an expansion the tax breaks used to lure the business.

Three film productions will split North Carolina’s film and entertainment grant money for the first half of 2015. This is the first year for the state’s new, smaller incentives program for movie and TV productions. Lawmakers have set aside $10 million for the first six months of this year.

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.

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.

Duncan McFadyen

Chiquita has notified state officials the company will close its Charlotte headquarters slightly earlier than expected, with layoffs to begin in two months.

Michael Tomsic

The company behind Bubble Wrap is popping in nearly 1,300 jobs in Charlotte. Sealed Air Corporation announced Wednesday it's moving its headquarters here from New Jersey. The Fortune 500 company could eventually get more than $41 million in state and local incentives.

South Carolina scored some notable victories this week in the competition for new jobs in the Charlotte region. Three companies announced plans to bring a combined total of at least 3,900 new jobs to York and Chester counties. Two of those expansions involve relocating jobs that are currently based in Charlotte.   John Lassiter, a former Charlotte City Council member who now chairs the North Carolina Economic Development Board, talks to WFAE's Mark Rumsey about the challenges in competing with the incentives that South Carolina can offer.

In Raleigh Wednesday, a bipartisan group of lawmakers took to a stage of sorts, in an effort to build support for the state’s film incentives. The tax rebate program faces an uncertain future and may expire at the end of the year.