Senate Moves on Big Change in Incentives, Sales Tax Distribution

The News & Observer in Raleigh reported, on Monday August 10th, that the state Senate voted 36-12 for approval of the Economic Development Bill.

CEO Lew Ebert stated “For nearly a year, business leaders and economic developers have been looking for job recruitment tools to attract sustainable, long-term projects with significant economic impacts for North Carolina and its citizens. Legislative leaders have heard the  message and responded to it so North Carolina can be seen as a leading state that is serious about competing for jobs.”

The bill gives a new and improved structure that will be updating the state incentives plan. It may also change how sales taxes are distributed among counties.

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