BLOGS: Womble Carlyle Economic Development Digest

Tuesday, July 30, 2013, 1:11 PM

The Economic Development Digest - July 30, 2013

Womble Carlyle’s Economic Development Digest aggregates news, opportunities and legislation impacting business in the Southeast and Mid-Atlantic U.S.

In this week's Economic Development Digest:

South Carolina
  • I-526 widening is on SCDOT Commission's priority list, The Post and Courier (July 23, 2013)
    1-526 widening (the controversial extension of Interstate 526 across Johns and James Islands) is on SC DOT Commission’s priority list. The board members of the S.C. Transportation Infrastructure Bank will meet next month with SC DOT officials to consider the state’s top priorities.
  • DOT board lists 7 big projects for new road money, The Associated Press (July 23, 2013)
    Seven road projects were approved last week by the SC DOT to be completed first. The SC DOT sent the list of projects to the S.C. Transportation Infrastructure Bank for consideration and funding. The S.C. Transportation Infrastructure Bank does not have to follow the SC DOT’s recommendations.
  • South Carolina Supreme Court: Partnership may not claim infrastructure credits, TaxAnalysts.com (July 24, 2013)**
    The South Carolina Supreme Court held that only a corporation, not a partnership wholly owned by corporate affiliates, may claim credits for infrastructure project expenses and rejected the taxpayer's contention that because it filed a consolidated return, all of its affiliates constituted a single taxpayer for purposes of the credit.
North Carolina
  • Governor Pat McCrory Signs Fiscally Responsible Budget, Office of Governor Pat McCrory (July 26, 2013)
    Governor Pat McCrory signed a $20.6 billion budget that increases K-12 education funding, incorporates fiscally-responsible tax reform and lays the foundation for economic growth and job creation. The budget reflects a 2.5 percent spending increase compared to the previous fiscal year.
  • N.C. tax overhaul Done for this legislative session, wcsr.com (July 24, 2013)
    The Conference Committee version of H998 has been signed by Governor McCrory. The bill has been promoted as a tax simplification and tax reduction measure, and as an attempt to neutralize North Carolina tax climate disadvantages relative to its neighboring states.
  • Dogfight over Charlotte airport exposes regional rifts, Charlotte Observer (July 21, 2013)
    The future of Charlotte Douglas International Airport is at stake, and it is a key to regional economic development. There is tension between the legislature and the city. The General Assembly of North Carolina created a new airport authority to run the airport, and Jerry Orr (longtime aviation director) departed his position.
  • A powerful comeback, Winston-Salem Journal (July 18, 2013)
    Governor Pat McCrory touts North Carolina’s “powerful comeback”, discussing education reform, economic development and advances in energy and transportation.
  • McCrory administration freezes Rural Center's cash, News & Observer (July 19, 2013)
    Governor McCrory signed "comprehensive tax reform" into law Tuesday, capping the income tax for all individuals at 5.8 percent and reducing the corporate tax to 6 percent in 2014.
  • Tax reform part of broader plan, Gaston Gazette (July 22, 2013)
    By broadening the tax base and lowering marginal tax rates, the tax-reform bill Republican leaders crafted and pushed through the General Assembly aims to attract private investment to North Carolina while preserving North Carolina’s ability to invest effectively in public assets such as roads and schools.
  • McCrory signs tax reform 'restoring confidence for NC businesses', wncn.com (July 23, 2013)
    Governor McCrory’s office froze state money at the N.C. Rural Economic Development Center on Thursday.  In freezing funds at the Rural Center, Governor McCrory’s office invoked a state law that allows it to protect taxpayer dollars by stopping grantees, such as the Rural Center, from spending state money.
Virginia
  • Candidates and experts agree: Virginia's tax code needs reform, TaxAnalysts.com (July 25, 2013)**
    Now that North Carolina has signed a sweeping package of tax cuts into law, tax policy commenters are turning their attention north to neighboring Virginia, where tax policy promises to feature prominently in this fall's race for governor.
California
Maryland
  • NoMa thrives as Odenton struggles on, Maryland Gazette (July 20, 2013)
    The NoMa district was considered the “hole in the doughnut” of D.C. development.  It had access to transit, and proximity to a growing cluster of federal workers as a number of federal facilities were relocating to the area. In 2009, the District of Columbia provided tax incentives to spur residential development in NoMa, encouraging developers to move forward with projects despite the economic downturn. NoMa is now thriving as a result of the commitment of the District of Columbia to its development.
Texas
  • Texas offers sales tax exemption for data centers, TaxAnalysts.com (June 14, 2013)**
    Under Texas HB 1223, data centers may be eligible for a sales and use tax exemption for qualifying purchases of electricity, emergency generators, cooling systems, data storage devices, network equipment, software, or other tangible personal property.
  • Texas bill provides for more state over site of school district property tax incentives, TaxAnalysts.com (June 14, 2013)**
    Texas HB 3390, signed June 14 by Gov. Rick Perry (R), amends multiple provisions of the Texas Economic Development Act, which permits school districts to offer incentives to businesses in the form of temporary limits on taxable values of new property, to provide for greater state oversight of local incentives, amend definitions and criteria, and penalize applicants who fail to create qualifying jobs.
  • Texas allows businesses to choose a sales or franchise tax break for R&D, TaxAnalysts.com (June 14, 2013)**
    Under Texas HB 800, business taxpayers may choose a sales and use tax exemption or a franchise tax credit for their research and development activities; the franchise tax credit is worth 5 percent, or 6.25 percent if the research takes place on a state university.

**Note: a paid subscription is required to access this article. A brief description has been provided. Please contact Womble Carlyle’s Economic Development Team for more information on these developments.

Womble Carlyle's Economic Development Team helps clients explore opportunities for locating or expanding operations in the Southeast and Mid-Atlantic U.S. Our Economic Development Team combines a thorough working knowledge of economic development incentives; land use and siting procedures; and regulatory matters at the state, county and local levels, drawing on strong relationships built over many years with key governmental and civic leaders. For more information visit www.wcsr.com/economicdevelopment.

If you have any questions about this Economic Development Digest, please e-mail EconDigest@wcsr.com or contact any member of Womble Carlyle's Economic Development Team.

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Friday, July 19, 2013, 2:00 PM

The Economic Development Digest - July 19, 2013


Womble Carlyle’s Economic Development Digest aggregates news, opportunities and legislation impacting business in the Southeast and Mid-Atlantic U.S.

In this week's Economic Development Digest:

South Carolina
North Carolina
  • Lassiter named chair of N.C. Economic Development Board, Charlotte Observer (July 15, 2013)
    Governor McCrory has name John Lassiter as Chair of the North Carolina Economic Development Board. The North Carolina Economic Development Board is the group charged with leading McCrory’s new economic development approach for North Carolina.
  • Gov. McCrory, GOP legislative leaders tour tax plan as job creator, The News & Observer (July 15, 2013)
    Governor McCrory unveils a plan this week in North Carolina to trim income taxes and limit future government spending. McCrory hopes that his tax reform initiative will send the message to businesses that North Carolina is “open for business”.
  • NC tax reform heads to McCrory for final approval, wncn.com (July 17, 2013)
    A comprehensive tax reform bill passed a final vote in the North Carolina House and Senate Wednesday and now progresses to Governor McCrory to be signed. The bill reduces corporate and individual income tax rates, expands the sales tax base and limits mortgage interest and real estate taxes at $20,000.
Maryland
  • State representatives scored on business-related legislation, The Star Democrat (July 10, 2013)
    Maryland Business for Responsive Government released its 2013 roll call, grading Maryland state Senators and delegates based on how friendly they were in positions taken on legislation during this past Maryland General Assembly session.
California
  • California allows sales tax exemption for manufacturing, R&D equipment, TaxAnalysts.com (July 11, 2013)**
    California AB 93, signed July 11 by Gov. Jerry Brown (D), repeals the state's enterprise zone program, retains a hiring tax credit for hiring the unemployed, and allows a statewide sales tax exemption for manufacturing equipment or research and development equipment purchases for biotech and manufacturing companies.
  • Demise of enterprise zone program hurts workers, The Desert Sun (July 13, 2013)
    Governor Brown eliminated California’s enterprise zone program, replacing it with a program with rigid qualification requirements for businesses to claim the relevant hiring credit.
  • Our voice: Entering a new zone, The Desert Sun (July 13, 2013)
    In eliminating California’s enterprise zone program, Governor Brown replaces it with a new set of incentives, which some argue serve a greater geographic area than did the enterprise zone program.
  • California prepares to help businesses apply for sales and use tax exemption, TaxAnalysts.com (July 12, 2013)**
    The California State Board of Equalization has announced that it is preparing to promulgate regulations and forms relating to the partial sales and use tax exemptions for manufacturing or bio-technology equipment provided for by recent legislation (AB 93 and SB 90); the exemptions take effect July 1, 2014.
WCSR/National
  • COST releases business tax burden study for fiscal 2012, TaxAnalysts.com (July 16, 2013)
    A business tax burden study prepared for the Council On State Taxation by Ernst & Young estimates that businesses across the nation paid $649 billion in state and local business taxes, including property taxes and sales and excise taxes on business inputs, in fiscal 2012, a 3.9 percent increase from fiscal 2011.

**Note: a paid subscription is required to access this article. A brief description has been provided. Please contact Womble Carlyle’s Economic Development Team for more information on these developments.

Womble Carlyle's Economic Development Team helps clients explore opportunities for locating or expanding operations in the Southeast and Mid-Atlantic U.S. Our Economic Development Team combines a thorough working knowledge of economic development incentives; land use and siting procedures; and regulatory matters at the state, county and local levels, drawing on strong relationships built over many years with key governmental and civic leaders. For more information visit www.wcsr.com/economicdevelopment.

If you have any questions about this Economic Development Digest, please e-mail EconDigest@wcsr.com or contact any member of Womble Carlyle's Economic Development Team.

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Friday, July 12, 2013, 12:02 PM

The Economic Development Digest - July 12, 2013


Womble Carlyle’s Economic Development Digest aggregates news, opportunities and legislation impacting business in the Southeast and Mid-Atlantic U.S.

In this week's Economic Development Digest:

South Carolina
North Carolina
  • Refund cap could mean job cuts for Baptist, Winston-Salem Journal (July 9, 2013)
    North Carolina moves toward a tax reform plan that would establish a cap on annual local and state tax refunds received by nonprofits.
  • Bill moving to end AdvantageWest funding, The Asheville Citizen-Times (June 20, 2013)
    Bill that would allow a private nonprofit to take over many economic development duties in North Carolina moves forward in the legislature.
Texas
Florida
  • Enterprise zone property tax credit to be applied against Florida corporate income tax 2013 legislative changes, TaxAnalysts.com (June 20, 2013)**
    The Florida Department of Revenue has clarified that the enterprise zone property tax credit against corporate income tax for new or expanding business may be claimed for each location that is eligible to claim it, rather than restricting a business to claiming no more than $25,000 or $50,000, if at least 20 percent of the business's full-time employees reside in an enterprise zone, on a single state corporate income tax return.
California
Womble Carlyle Sandridge & Rice, LLP
  • Employers beware: Unpaid internships may be costly, wcsr.com (July 2013)
    Unpaid internships might be an opportunity for a company to provide training for prospective employees, or it might expose the company to liability for unpaid wages and overtime.

**Note: a paid subscription is required to access this article. A brief description has been provided. Please contact Womble Carlyle’s Economic Development Team for more information on these developments.

Womble Carlyle's Economic Development Team helps clients explore opportunities for locating or expanding operations in the Southeast and Mid-Atlantic U.S. Our Economic Development Team combines a thorough working knowledge of economic development incentives; land use and siting procedures; and regulatory matters at the state, county and local levels, drawing on strong relationships built over many years with key governmental and civic leaders. For more information visit www.wcsr.com/economicdevelopment.

If you have any questions about this Economic Development Digest, please e-mail EconDigest@wcsr.com or contact any member of Womble Carlyle's Economic Development Team.

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Monday, July 1, 2013, 9:07 AM

The Economic Development Digest - June 28, 2013


Womble Carlyle’s Economic Development Digest aggregates news, opportunities and legislation impacting business in the Southeast and Mid-Atlantic U.S.

In this week's Economic Development Digest:

South Carolina
  • Haley wants to see how road money is spent before backing more, The Greenville News (June 25, 2013)
    Governor Nikki Haley wants to see how officials handle this year's road and bridge money before deciding whether to support a push for more. Governor Haley signed a transportation funding bill that could raise more than $700 million for roads and bridges.
North Carolina
  • Big business-recruiting changes in store for North Carolina, Charlotte Business Journal (June 27, 2013)
    The North Carolina General Assembly votes this week on a bill that would make sweeping changes to how the state recruits companies and jobs -- privatizing the sales, marketing and support services of the state Commerce Department by moving those duties to a newly created private nonprofit.
  • McCrory celebrates NC transportation money changes, The Associated Press (June 26, 2013)
    Governor McCrory earned two victories Wednesday first by signing transportation funding formula changes into law and second by receiving initial House support to shift many Commerce Department duties to an outside group. The transportation effort retools the recipe for how $1.5 billion in state and federal highway funds get spent annually. This week, the House gave tentative approval to McCrory-backed legislation to begin the process to shift department responsibilities for travel and tourism, international trade and economic recruitment to the yet-created private nonprofit corporation.
Virginia
Texas
California

**Note: a paid subscription is required to access this article. A brief description has been provided. Please contact Womble Carlyle’s Economic Development Team for more information on these developments.

Womble Carlyle's Economic Development Team helps clients explore opportunities for locating or expanding operations in the Southeast and Mid-Atlantic U.S. Our Economic Development Team combines a thorough working knowledge of economic development incentives; land use and siting procedures; and regulatory matters at the state, county and local levels, drawing on strong relationships built over many years with key governmental and civic leaders. For more information visit www.wcsr.com/economicdevelopment.
If you have any questions about this Economic Development Digest, please e-mail EconDigest@wcsr.com or contact any member of Womble Carlyle's Economic Development Team.

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