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. Foreign manufacturers outpacing domestic in Georgia, Global Atlanta (November 8, 2013) Georgia international manufacturing in the third quarter outpaced domestic manufacturing activity.

Maryland

Maryland proposes regs on e-filing of business tax credits, TaxAnalysts.com (November 1, 2013)** The Maryland comptroller of the treasury has proposed new regulations to clarify the electronic filing requirement for business tax credits.

North Carolina

NC slips from first to second-best state for business climate, Triangle Business Journal (November 5, 2013) Site Selection magazine ranks North Carolina as second on its annual list of states with the best climate for business. 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. Medical technology company to create 75 high-paying jobs in Research Triangle Park, Raleigh-Wake.org (November 7, 2013) Teleflex, a global provider of medical technology products, will relocate its existing operations in RTP to a new facility in Morrisville, North Carolina. It should create 75 jobs over the next three years and generate investment of more than $20 over the next several years. Greater Raleigh Chamber announces incoming Wake County Economic Development Executive Director, Raleigh-Wake.org (November 2013) Adrienne Cole is the new Wake County, North Carolina Economic Development Director. 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

Cultivating talent: build place alongside the economy, scedablog.com (November 4, 2013) South Carolina studies the strong positive correlations between community attachment and economic prosperity as a means to attract and retain key talent in employees. South Carolina manufacturing is a top job creator, scedablog.com (November 11, 2013) South Carolina takes great pride in the jobs created by its manufacturing sector.

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. Kevin Brady: Economic growth rate not large enough, Chron.com (November 7, 2013) Texas Representative Kevin Brady is not pleased with the current rate of economic recovery in the United States.

**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.