Articles in regional publications that pertain to a wide range of North Carolina-related topics.
for Southern City Vol. 46 Issue 3, Mar 1996
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The North Carolina Supreme Court ruled in 1996 in the case of Maready v. City of Winston-Salem that the use of public funds by cities and counties to attract businesses is not unconstitutional.
Although the state's intangibles tax was repealed in 1995, a recent ruling of its unconstitutionality by the U.S. Supreme Court could prove costly to the state, with refunds reaching $120 million.
Businesses move for a number of reasons: consolidation, bankruptcy, better offers. Some cities coping with recent losses are Greenville (Glaxo Wellcome) and Tarboro (Black and Decker).