Updated: NC House OKs Beefing Up Corporate Incentives Tools
Updated Thursday 7:24 am
An economic recruitment package sought by Gov. Pat McCrory and anchored by renewed funding for North Carolina's chief incentives tool has received initial approval by the full House.
The chamber voted 87-32 for the measure Wednesday, one day after it cleared the House's two largest committees.
McCrory's administration has said the Job Development Investment Grant was essentially out of money, and an influx is needed for North Carolina to compete with other states as corporations consider expanding.
The bill also puts $20 million in an infrastructure fund, extends sales tax fuel refunds for airline carriers and widens tax breaks for computer data centers.
Republican and Democratic House members opposed the measure. They say rural communities have been left out of the state's prosperity and government shouldn't dole out cash incentives.
A House panel has approved a measure sought by Gov. Pat McCrory to expand or extend the economic incentives offered by North Carolina government to recruit companies.
The House Finance Committee voted Tuesday to recommend a measure that in part provides more financial capacity to the state's chief incentives tool — now known as the Job Development Investment Grant.
The measure passed by a more than 3-to-1 margin although some Republican lawmakers say targeted incentives are not effective or disproportionately help companies in urban areas.
Commerce Secretary John Skvarla told the panel no one likes incentives but they're needed to compete with other states that use them to convince corporations to build or expand.
The bill heads to the House budget committee later Tuesday.