BLOGS: Womble Carlyle Economic Development Digest

Friday, November 22, 2013, 1:54 PM

The Economic Development Digest - November 22, 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:

California
Florida
  • Palm Beach County Commissioner Priscilla Taylor named new mayor, The Palm Beach Post (November 19, 2013)
    Legislative priorities: Palm Beach County, Florida, approved the legislative priorities for the 2014 session. They include supporting economic development projects for the Glades, requesting more than $124 million for environmental projects, and opposing gambling legislation that puts the Palm Beach Kennel Club at a competitive disadvantage.
Georgia
  • Georgia policy group warns tax shifts would reduce education funding, TaxAnalysts.com (November 1, 2013)**
    The Georgia Budget and Policy Institute has issued a fact sheet to show how proposals to offset income tax cuts with higher sales taxes would probably lead to budget cuts, which would ultimately harm funding for public school and college education.
Maryland
North Carolina
  • Metros dominate NC economy, New & Observer (November 20, 2013)
    North Carolina’s economy appears to be concentrated in its metropolitan cities and counties with its seven largest metro areas generating nearly 70 percent of North Carolina’s economy.
South Carolina
Tennessee
  • Audit of Tennessee DOR finds problems with jobs tax credit audits, state contract procedures, TaxAnalysts.com (October 29, 2013)**
    The Tennessee Division of State Audit has completed an audit of the Department of Revenue, and reports that the DOR did not adequately document whether companies receiving Jobs Tax Credits complied with state law and did not implement procedures to ensure that Tennessee contracts only with entities registered under the Retailer's Sales Tax Act.
Texas
  • Texas policy group compares impact of tax, regulatory structures in Texas and California, TaxAnalysts.com (November 1, 2013)**
    The Texas Public Policy Foundation has compared how tax structure and government policy have affected economic growth in Texas and California, and argues that Texas's low-tax, business-friendly climate has led to increased economic output, while California suffers from tax flight problems and "parasitic leakages" due to its high tax rates and burdensome regulations.
 
Virginia
 
Washington D.C.

**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, November 18, 2013, 6:59 AM

The Economic Development Digest - November 15, 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:

Georgia
  • Georgia has No. 1 biz climate, Atlanta Business Chronicle (November 4, 2013)
    Site Selection magazine ranks Georgia’s business climate the best.
  • Korean Hankook tire distributor chooses Liberty Corner, Global Atlanta (November 8, 2013)
    Hankook tires are to be distributed throughout the Southeast from Liberty County in Georgia. Hankook Tire American Corp., the U.S. subsidiary of Seoul, Korea-based Hankook Tire Co. Ltd., markets and distributes passenger tires, light truck tires, SUV tires and medium truck and bus tires through more than 10,000 retail locations in the U.S. and Canada. 600,000 tires will be kept at the facility, and they will be brought through the Port of Savannah. Tradeport East’s proximity to Interstate 95 was a critical factor in the company’s decision.
Maryland
North Carolina
  • MetLife breaks ground on Cary technology hub, The News & Observer (November 1, 2013)
    New York based MetLife announced plans to move workers from more than 30 locations in the northeast to a campus in Cary and another one in Charlotte. The Cary site will be a hub for global technology and is anticipated to employ approximately 1200 people.
  • NC Commerce chief Decker says state attracting unemployed, The News & Observer (November 14, 2013)
    The administration of Governor Pat McCrory is taking several approaches to combating unemployment and create new jobs. North Carolina is creating a public-private partnership to take over efforts to market North Carolina to companies seeking to relocate or expand.
  • Economic developer describes Raleigh's appeal over other cities, The News & Observer (November 13, 2013)
    Raleigh competes for jobs with much larger cities such as Atlanta and Boston because of its young, college-educated workforce and amenities, the city’s economic development manager told a group of North Carolina mayors Wednesday.
South Carolina
Texas
  • Texas comptroller provides guidance on property tax incentives, TaxAnalysts.com (November 5, 2013)**
    The Texas comptroller of public accounts has published updated guidelines and frequently asked questions regarding the state's economic development program as amended by HB 3390 , which allows school districts to offer temporary limits on taxable values of new property.

**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, November 4, 2013, 1:09 PM

The Economic Development Digest - November 1, 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:

California
Georgia
  • Finally, good news from Washington, Newnan Times-Herald (October 30, 2013)
    The Water Resources Reform Development Act passes the U.S. House of Representatives, authorizing the deepening of the Savannah Harbor.
Maryland
  • Maryland comptroller's newsletter notifies taxpayers of new credits, modifications, TaxAnalysts.com (October 30, 2013)**
    A fall newsletter issued by the Maryland comptroller's office alerts taxpayers to new business tax credits, income modifications, and other tax changes effective in 2014, and offers information on 529 plans, the state's efforts to alert organizations that are about to lose their federal exempt status, and attempts to return unclaimed property.
National
  • SEC proposes new crowdfunding rules, wcsr.com (October 29, 2013)
    Start-ups, social-media savvy companies and other private issuers may soon have a new way to raise capital thanks to key provisions of the recent Jumpstart Our Business Startups Act (JOBS Act) and proposed implementing rules announced last week by the Securities and Exchange Commission. The long-awaited “crowdfunding” rules were unanimously adopted by the SEC commissioners and will allow issuers to raise up to $1 million per year through unregistered, internet-based public offerings marketed to the general public. The proposed rules will now undergo a public comment and review period before being finalized.
South Carolina
  • SC's inland port opens for business, Herald Online (October 27, 2013)
    South Carolina's $50 million inland port began operating in October and is touted as a far more efficient way to move materials from the seaport inland.
Virginia
  • Virginia tax commissioner explains qualifying expenses for film tax credit, TaxAnalysts.com (October 18, 2013)**
    The Virginia tax commissioner, in a letter ruling, addresses whether fringe benefits provided by a production company, such as equipment rentals, FICA taxes, and workers' compensation insurance, are considered compensation and wages that are treated as qualifying expenses under the state's motion picture production tax credit.
West Virginia
  • Bill proposes customers pay extra to attract a steel plant, The Herald Dispatch (October 29, 2013)
    State Rep. Terry Johnson has introduced legislation to raise economic development funds by charging electric customers an extra fee to help bring a steel plant to Scioto County. The multi-million dollar project could bring an estimated 1,100 full-time jobs and a large number of construction jobs, developers say.

**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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