The Womble Carlyle Economic Development Digest - March 3, 2014

Womble Carlyle’s Economic Development Digest aggregates news, opportunities and legislation impacting business in the United States.

In this week's Economic Development Digest:

District of Columbia

Republican tax overhaul would come at cost of hundreds of credits, deductions, The Washington Post (February 27, 2014) GOP bill could simplify tax code and pare down breaks.

Florida

Algenol CEO proves jobs are there, says expansion will be outside Lee County, Naples Daily News (February 24, 2014) Alegenol, a company that grows algae and converts it to biofuels such as ethanol, must create 180 jobs by the end of February as part of an overall $10 million incentive agreement.

Georgia

Georgia Senate Approves Constitutional Amendment to Cap Income Tax, TaxAnalysts.com (February 2, 2014)** The Georgia Senate approved a constitutional amendment on February 24 that would cap the individual income tax at its current 6 percent rate. Georgia Senate approves 6 percent cap on income taxes, Atlanta Business Journal (February 28, 2014) Georgia Senate approves a 6 percent cap in income taxes.

Maryland

'House of Cards' threat prompts bill; Company says Netflix program might leave Md. if tax breaks aren't increased, The Baltimore Sun (February 22, 2014) A bill that would authorize $18 million in tax credits for movies and television shows filmed in Maryland is part of an effort to keep the Netflix drama “House of Cards” in Maryland. COST Opposes Maryland Bill to Require Mandatory Unitary Combined Reporting, TaxAnalysts.com (February 25, 2014)** In written testimony to the Maryland House Ways and Means Committee, Fred Nicely of the Council On State Taxation expressed opposition to a proposed bill (HB 887) that would require mandatory unitary combined reporting, saying it would have an unpredictable effect on revenue and could reduce jobs, set Maryland apart from its neighboring states, create an administrative burden, and distort the amount of income earned in different states. Gansler jobs plan heavy on manufacturing, high-tech, Baltimore Business Journal (February 27, 2014) The Attorney General of Maryland unveils his jobs plan for Maryland, which includes increasing exports and commercializing more discoveries from Maryland universities.

North Carolina

Carolina Beach clears way for brewery, Star News (February 12, 2014) Carolina Beach, North Carolina changes zoning ordinances to allow breweries, encouraging craft breweries. NC's partnership for job growth should be reconsidered, The News and Observer (February 23, 2014) The plan to restructure the Commerce Department in North Carolina is said to be creating confusion, inaction and lack of understanding.  If we're going to outsource, let's get it right first, Star-News, Inc. (February 26, 2014) North Carolina State Representative Susi Hamilton likes the concept of enlisting the help of private enterprise to help recruit businesses to North Carolina, but she questions the use of taxpayer’s money in such a public-private organization without a stronger plan for raising the private funds that are to be part of the overall package.

South Carolina

Openness, spending issues in Seneca City Council races, Anderson Independent-Mail (February 24, 2014) Hotel development gives rise to questions in Seneca City Council. Leatherman eyes changes to state penny tax bill, Morning News (February 4, 2014) Senator Hugh Leatherman watches changes to South Carolina’s penny tax bill. Wade: Deepening port critical to SC economic growth, The State (February 28, 2014) Deepening of the port in South Carolina is viewed by many as critical to South Carolina’s economic growth.

Texas

Texas Comptroller Adopts Sales Tax Exemption Rule for Datacenters, TaxAnalysts.com (February 25, 2014)** The Texas comptroller of public accounts has adopted a sales and use tax rule to implement an exemption for tangible personal property and electricity used by datacenters.

Virginia

New transportation funding offers Hampton Roads region a chance 'to invest in ourselves', Daily Press (February 25, 2014) Large transportation projects that have historically been on the waiting list are now front and center on Virginia Mayor’s agendas. Stabilize Port for Economy's Sake, The Virginian-Pilot Edition (February 27, 2014) The Port of Virginia experiences an increase in business, as measured by container volume, with resulting positive impacts in Virginia. Over there, Virginia Business (February 28, 2014 ) Why is Virginia one of the nation’s leading recipients of federal spending? Ammo for the enemy,  Newsbank, Inc. (February 28, 2014) Do ethical issues in states impact economic development efforts?

**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.