Ray Kinsella leads the nonprofit economic development corporation (the “EDC”) that was jointly formed by the county and its largest city in the early 2000s, and that is now governed by an independent board of directors. Ray has heard some optimistic forecasts of “re-shoring” of manufacturing facilities to the United States, and he has a […]
Posts Tagged ‘incentives’
Conveyance of Local Government Property to Nonprofit EDC for Industrial Park
Tuesday, March 17th, 2015Valid Cash Incentive or Illegal Tax Rebate?
Wednesday, October 28th, 2009One news outlet reported that in exchange for constructing a data center in North Carolina, Apple Inc. will be reimbursed by North Carolina local governments for “50 percent of tax revenue on real estate property — buildings and land — and 85 percent of tax revenue on business property — computers and other equipment — […]
Public Hearings for Economic Development Incentives: An Unwritten Rule?
Wednesday, August 26th, 2009North Carolina local governments frequently use cash grants as an economic development incentive to lure businesses into their respective jurisdictions. The grants are authorized under the Local Development Act, G.S. 158-7.1 et seq., but a quick read of the statutes might obscure the need for a public hearing prior to approving such incentives. To understand […]