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McCrory Pushing to Raise Cap on Business Incentives Budget
Written by Bruce Ferrell   
Saturday, 25 April 2015 08:01

RALEIGH -- North Carolina's business incentives budget is exhausted and Gov. McCrory is urging lawmakers to raise the cap on funds when the next State Budget is passed.

NC Commerce Secretary John Skvarla says the Job Development Investment Grant, or JDIG, Program is poorly named, which draws confusion, because the incentive program is not a grant at all, but a reimbursement.

 

"It is only paid to the company as a reimbursement from new taxes received because of new jobs created that we otherwise would not have had.

North Carolina executive leaders have been working to lure an auto manufacturer, Mercedes. They recently decided to relocate in Georgia, which offered incentives, and Volvo is also reportedly no longer considering North Carolina for it's first U.S. manufacturing plant.

Last Updated on Saturday, 25 April 2015 08:06
 
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