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
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Georgia
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- 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.
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Maryland
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- 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.
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National
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- 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.
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South Carolina
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- 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.
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Virginia
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- 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.
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West
Virginia
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- 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.
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**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.
Labels: Annapolis City Dock plan, economic development, Maryland Business tax credits, SEC crowdfunding rules, South Carolina inland port, Water Resources Reform Development Act
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