Posts Tagged ‘G.S. 158-7.1’

Did the NC Supreme Court put cash economic development incentives in jeopardy?

Tuesday, December 18th, 2012

Cash economic development incentives are widely used by local governments to induce companies to locate in their jurisdictions. A 2006 survey indicated that more than 40% of North Carolina local governments employ cash incentives for business recruitment. And yet, no statute contains language specifically authorizing cash incentive payments. G.S. 158-7.1(b) contains a rather comprehensive list […]

Valid Cash Incentive or Illegal Tax Rebate?

Wednesday, October 28th, 2009

One 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 — […]