LEGISLATIVE BULLETIN: House Tax Package for Businesses Released - More economic incentives won't cure what ails us

June 22, 2010
By Alexandra Forter Sirota

EXECUTIVE SUMMARY:

  • The NC House voted yesterday on a bill, HB 1973, to provide tax breaks to businesses that locate in the state.
  • At an estimated cost of $300 million by 2015, the incentives are an expensive and ineffective way to support the state's economic recovery.
  • The most important support to the state's economic recovery is job creation, which many of the economic incentives proposed have failed to generate in the past.
  • North Carolina policymakers should consider a Small Business Job Creation grant program and support for entrepreneurship to create jobs and stimulate continued economic growth.
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