The Economic Development Digest - January 3, 2014

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

Hollywood seeks to bolster California film and TV tax credit, Los Angeles Times (January 2, 2014) More film tax credits sought; Hollywood, union officials aim to bolster state incentives, stop runaway production.

Florida

Florida proposes rule on R&D tax credit for target businesses, TaxAnalysts.com (December 24, 2013)** The Florida Department of Revenue has proposed a rule to implement recent legislation that allows a research and development tax credit against state corporate and franchise tax credit for target industry businesses that claim valid federal corporate income tax credits for qualified research expenses.

Maryland

Tax breaks, property rights, education funding top list for commissioner plans in 2014, Carroll County Times (January 1, 2014) Tax breaks, education funding and property rights top the list of priorities.

National

Markets buoyant, merger activity picks up, New York Times (January 1, 2014) The United States accounted for 43% of all deals worldwide in 2013, the biggest proportion since 2001. Thinking outside the (big) box, The New York Times (December 31, 2013) After re-evaluating the relationship between worker management and profit, many corporate leaders will realize that paying their workers more and treating them better will actually make everyone better off. And this, indeed, would format a small revolution. Supreme Court overturns Fourth Circuit precedent on time limitations for filing ERISA benefit lawsuits, wcsr.com (January 2, 2013) Plan can dictate when the time begins to run on deadline for filing benefits lawsuit.

North Carolina

Looking for a new normal, The Herald-Sun (December 29, 2013) The "mantra" for 2013 in North Carolina was reform. A year of 'positive outcomes and surprising opportunities', The Herald-Sun (December 30, 2013) North Carolina experienced economic improvement in 2013. Looking for a new normal in 2014, The Daily Courier (December 31, 2013) 2013 saw the greatest changes in state government in North Carolina in the past 50 years.

South Carolina

State lawmakers plan changes for education system in 2014, The Greenville News (December 27, 2013) South Carolina lawmakers are gearing up to make big changes in education in the 2014 legislative session. Start 2014 roads debate with plan, The Greenville News (December 29, 2013) South Carolina legislators need a comprehensive plan to provide a stable revenue stream over the long term, and from a variety of sources, to improve South Carolina’s massive road system. Update: 'Reshoring' trend continues to grow, scedablog.com (December 30, 2013) The “reshoring” trend of manufacturers returning production and jobs to the United States continues to grow.

Texas

Texas extends emergency rule on sales tax exemption for datacenters, TaxAnalysts.com (December 9, 2013)** The Texas comptroller of public accounts has renewed an emergency adoption of a sales and use tax rule that provides a sales tax exemption for tangible personal property and electricity purchased by datacenters.

**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 EconomicDevelopment Team.