by Donna Martinez
Former Senior Writer and Editor, John Locke Foundation
Tyler Dukes of WRAL reports:
In the wake of the 2008 recession, about four of every 10 of the jobs state officials hoped to lure to North Carolina with the promise of millions in taxpayer money failed to materialize, new Commerce Department data show.
A WRAL News analysis of grants from the state’s two largest incentive programs, the Job Development Investment Grant and the One North Carolina Fund, shows that more than one-third of the companies that announced relocations and expansions failed to hire a single worker. The analysis covers grants awarded from 2009 through 2012, under the administration of former Democratic Gov. Bev Perdue.
“Companies are going to go where it makes business sense for them to go,” Coletti said. “Incentives may make a marginal difference if everything else is exactly equal, but most of the time, the company is going to do what it does anyway.”
This is a really in-depth, full story. Read the full piece here.