economic incentives

The City of Wilmington and New Hanover County recently approved a financial incentive package worth $580,000 for National Gypsum.

The Cape Fear region is competing with Tampa for the company’s business. 

A bill to redistribute sales tax revenues recently took a blow in the North Carolina House of Representatives and now sits in a House-Senate conference committee.  WHQR spoke with some representatives of local rural counties to see what’s next for this proposal and how it would affect their constituents. 

As it stands now, 75 percent of sales tax goes to the county where goods are sold.  A quarter of the tax is distributed based on population.

www.ncleg.net

As North Carolina legislators gear up for a new session, Governor Pat McCrory says economic incentives are his Number One priority.   

Businesses have to juggle a lot to stay afloat—permits, taxes, start-up loans, and more.  In an economic development report commissioned recently by New Hanover County, "Pathways to Prosperity: New Hanover County's Plan for Jobs and Investment," consultant Jay Garner cautions that small and new businesses must be better supported by the region’s government to spur development.

Isabelle Shepherd

The legislature is out of Raleigh, but, the jury may not be out on economic incentives, including those supporting North Carolina’s film industry. 

The City of Wilmington and New Hanover County leaders plan to write to Governor Pat McCrory, asking him to reconvene the legislative session to make a final decision on economic incentives.  Wilmington Mayor Bill Saffo says this is a bigger issue than just film; he wants to protect job development grants, which incentivize companies to bring their business to North Carolina: