Articles in regional publications that pertain to a wide range of North Carolina-related topics.
for North Carolina Insight Vol. 17 Issue 2 and 3, Dec 1997
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To compete with neighboring Mecklenburg County and to attract new businesses, Cabarrus County developed its own incentives program for commercial and business development. While successful, the program's constitutionality has been questioned.
Economic development incentives, including tax incentives and financial aid, are used by states to attract businesses. Being outbid by other states for companies like Mercedes-Benz has led the state to formulate a policy on incentives.
Major components of the incentives grant program are tax credit programs, including those for worker training; loan and grant programs, including business energy loans; and the Governor's Industrial Recruitment Competitive Fund.
Are business taxes too high? A number of studies, including one by the Peat Marwick accounting firm, report taxes are low; others find the opposite. To attract businesses, the state needs a corporate tax rate that is fair and competitive with other states.
Eight state agencies expend about $800 million yearly in job training programs, with results varying from program to program. Upcoming issues to deal with include program consolidations, declining federal funding, and the impact of Work First.
Deciding what is urban and rural might depend on who is answering the question. The U.S. Bureau of the Census, the U.S. Office of Management and Budget, and the N.C. Rural Economic Development Center each have differing definitions.