The Womble Carlyle Economic Development Digest - June 27, 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:

California

California's tax-cutting Legislature?, Orange County Register (June 25, 2014) California elected officials focus on why so many jobs appear to be leaving California and heading to other states. State-level bill seeks to allow gambling in Milpitas, San Jose Mercury News (June 25, 2014) California legislators may soon review a billcrafted to pursue greater economic development and increase revenues by promoting casino gambling in California.

Delaware

State to use job development cash to prop up casinos, The News Journal (June 25, 2014) Delaware casinos are poised to receive funds more typically used for economic development in the state.

Florida

Florida Bill amends economic development program provisions, TaxAnalysts.com (June 20, 2014)** Florida HB 7023, signed into law as Chapter 218, provides a sales tax refund for purchases of electricity by eligible businesses in rural areas, makes reemployment assistance installment plans a permanent option, and provides requirements for loan programs relating to proper stewardship of funds.

Maryland

City Council approvals tax breaks to spur Baltimore development, The Baltimore Sun (June 24, 2014) City Council in Baltimore, Maryland approves tax credits designed to encourage construction of apartments and homes in Baltimore in an effort to keep families in Baltimore and attract newcomers to Baltimore.

National

A forthcoming film about Kelo v. City of New London, The Washington Post (June 23, 2014) This week is the ninth anniversary of Kelo v. City of New London, the controversial Supreme Court decision in which the Court ruled that it was permissible for the government to take private property and give to another private owner in order to promote "economic development" because the hope of increased development is enough to meet Fifth Amendment's requirement that all takings be for a "public use." What anti-corruption developments in Brazil and Latin America mean for you, Inside Counsel (June 25, 2014) As the 2014 FIFA World Cup draws the world’s attention to Brazil, corporations doing business in Latin America should be aware that leading Latin American economies are focusing on the issue of cooperation between Latin America and U.S. regulators.

North Carolina

Is the end near for NC film incentives?, The Asheville Citizen-Times (June 22, 2014) The North Carolina 25% refundable tax credit for film is set to expire at the end of this year. The current law gives a 25 percent refund to productions that spend more than $250,000, with a payout cap of $20 million for most productions and no monetary limit on TV series. Bill privatizing recruitment efforts OK'd, Winston-Salem Journal (June 19, 2014) The Senate in North Carolina unanimously passed legislation privatizing recruitment efforts. Don't forget us, The Daily Courier (June 20, 2014) Some in North Carolina argue that infrastructure funds are being focused on the corridor between Charlotte and Raleigh and are diverted away from the rural parts of North Carolina. North Carolina returns to CNBC's Top States for Business, claiming No. 5 spot, Triangle Business Journal (June 25, 2014) Call it a Carolina Comeback, if you will. CNBC counted down its annual Top States for Business ranking throughout the day Tuesday, and North Carolina has reclaimed its place among the best. Homeownership for millennials to rise faster in NC than other states, Triangle Business Journal (June 24, 2014) First-time buyers are struggling — but in North Carolina, a cheaper cost of living and a slew of job opportunities means homeownership rates for millennials will likely rise faster than in other states, an economist at the Progressive Policy Institute says. Governor signs economic-development partnership bill into law, Triangle Business Journal (June 24, 2014) Gov. Pat McCrory signed legislation approved last week to split the economic-development functions of the North Carolina Department of Commerce into a private, nonprofit corporation.

South Carolina

Amid jobs boom, Womble Carlyle hosts South Carolina Economic Development Summit, wcsr.com (June 24, 2014) On Friday, June 20th, Womble Carlyle hosted another successful South Carolina Economic Development Summit, with well over 100 registrants and a gathering of excellent speakers.

Texas

Alamo Beer project helping brew new economic momentum on the East Side, San Antonio Business Journal (June 23, 2014) San Antonio, Texas sees growth in its craft beer industry, encouraged by new Texas legislation targeting this growing industry. Investing 4a funds hit or miss for city, Times Record News (June 16, 2014) Wichita Falls, Texas analyzes the need to spend money (in the form of incentives) in order to bring jobs. Face to face with Rick Perry, Texas Monthly (July 2014) Governor Perry of Texas talks about his time in office, and what is in store for both Texas and his career from here.

**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/Practices/Economic-Development.

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.

Contacts North Carolina Charlotte Raleigh Research Triangle Park Winston-Salem John Hunter 704.331.4951 JHunter@wcsr.com Don Donadio 919.755.2102 DDonadio@wcsr.com Neill Edwards 919.484.2357 NEdwards@wcsr.com Alfred Adams 336.721.3642 AAdams@wcsr.com Chris Kouri 704.331.4987 CKouri@wcsr.com Nellie Shipley 919.755.2107 NShipley@wcsr.com       South Carolina Charleston Columbia Greenville Morris Ellison 843.720.4614 MEllison@wcsr.com Todd Carroll 803.454.7730 Todd.Carroll@wcsr.com Matt Trent 864.255.5411 MTrent@wcsr.com Foster Gaillard 843.720.4610 FGaillard@wcsr.com Kevin Hall 803.454.7710 Kevin.Hall@wcsr.com   Stephanie Yarbrough 843.720.4621 StYarbrough@wcsr.com         Georgia Atlanta     Guanming Fang 404.888.7388 GFang@wcsr.com