Economic development

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    Billion dollar incentive packages

    Is it me, or do these incentive packages just keep getting bigger?  The Triad Business Journal is reporting today on a report that North Carolina and Alabama are the two finalists for a new Toyota-Mazda plant.  And then they talk about the possible sites, all of which have already…
    Julie Tisdale, November 15, 2017
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    North Carolina may get an auto plant along I-85

    Toyota and Mazda are planning a $1.6 billion joint venture assembly plant that will build Toyota Corolla and an unspecified Mazda crossover. North Carolina may be one of two finalists, with Alabama, for the investment. Not surprisingly, the Greensboro-Randolph Megasite is along the South’s auto industry lifeline, Interstate 85,…
    Joseph Coletti, November 15, 2017
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    How far does a dollar go?

    I read an interesting piece today about the value of a dollar.  Actually, the value of $100, and how it compares in cities across the US. The Tax Foundation published this map back in August.  It compares the purchasing power of $100 in a particular metro area with the…
    Julie Tisdale, November 14, 2017
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    Companies will come, even without incentives

    Just a quick reminder that North Carolina can, in fact, attract international firms without offering tax breaks, or incentive payments, or job creation grants, or any other corporate welfare.  Simplilearn, an Indian company, has recently announced that they’ll be opening an office in the Triangle.  Significantly, they cite the…
    Julie Tisdale, November 7, 2017
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    Interim Committee Notes: Joint Legislative Economic Development and Global Engagement Oversight Committee (EDGE)

    The EDGE Committee met on Thursday, November 2nd. The purpose of this committee is to “examine, on a continuing basis, economic development and global engagement issues and strategies in North Carolina in order to make ongoing recommendations to the General Assembly on ways to promote cost-effective economic development initiatives, economic…
    Lexi Arthur, November 3, 2017
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    Regulation is killing small banks

    Ellen Brown advocates for states to create government banks like North Dakota has. Her latest article appears on the progressive website Truthout, where it runs alongside a sympathetic interview with Noam Chomsky and pro-Communist essays. But she quotes Rep. Jeb Hensarling approvingly and the title of this post…
    Joseph Coletti, November 3, 2017
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    The problem with subsidies

    There are lots of questions swirling around about the CSX Intermodal Rail Hub, which was supposed to be coming to Rocky Mount and receiving $100 million in subsidies from North Carolina taxpayers – as much as $700,000 per job created by the project.  It’s been controversial from the beginning, and…
    Julie Tisdale, November 3, 2017
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    Report: CSX Rocky Mount Project Dead

    Rick Henderson reports for Carolina Journal on the CSX Rocky Mount project: Train News Wire, a railroad industry trade publication, reported Thursday the Carolina Connector project, a $272-million intermodal rail hub scheduled for the Rocky Mount area, was canceled by the rail company. The project was set…
    Donna Martinez, November 2, 2017