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NC Weighs Offering Upfront Money For Promised Jobs
After decades of trying to attract new industries with tax breaks, North Carolina lawmakers are considering whether to just offer selected corporations upfront taxpayer money if they will move to the state.
Democrats noted the irony that the drive to offer upfront money comes almost three years after former Gov. Beverly Perdue, a Democrat, tried to find a way to meet a similar demand by German tire-maker Continental. The company wanted $45 million in advance as part of a $100 million package of tax breaks, infrastructure improvements and other enticements. Republican legislative leaders refused and the company's 1,300 jobs went to South Carolina instead.
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Now, it's not even tax breaks anymore. It's outright bribery. They would have had to ship in skilled workers anyway. The people already living in North Carolina would hardly have benefited.
After decades of trying to attract new industries with tax breaks, North Carolina lawmakers are considering whether to just offer selected corporations upfront taxpayer money if they will move to the state.
Democrats noted the irony that the drive to offer upfront money comes almost three years after former Gov. Beverly Perdue, a Democrat, tried to find a way to meet a similar demand by German tire-maker Continental. The company wanted $45 million in advance as part of a $100 million package of tax breaks, infrastructure improvements and other enticements. Republican legislative leaders refused and the company's 1,300 jobs went to South Carolina instead.
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Now, it's not even tax breaks anymore. It's outright bribery. They would have had to ship in skilled workers anyway. The people already living in North Carolina would hardly have benefited.
