by Dr. Roy Cordato
Senior Economist, Emeritas
—you think that the extent to which a state is “open for business” is measured by how much taxpayer money it is willing to give away to corporate cronies.
Rep. Rodney Moore, D-Mecklenburg, recited a litany of incentives and tax breaks that have been eliminated by the Republican-led General Assembly in recent years or are set to expire this year, including tax credits for research and development, redeveloping historic buildings, film and television productions and renewable energy production. Other incentives, such as the Job Development Investment Grant program, are underfunded, he said.
“The public seems confused as to whether or not North Carolina is open for business,” said Rep. Susi Hamilton, D-New Hanover. “Not understanding what the playing field looks like, it’s very difficult for the private sector to make a valid decision, and for that reason, we’ve seen a lot of industries turn and go to other states.”