BLOGS: Womble Carlyle Economic Development Digest

Monday, December 14, 2015, 11:35 AM

The Womble Carlyle Economic Development Digest - December 11, 2015

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

Tax Foundation releases 2016 state business tax climate index, (November 17, 2015)**
The Tax Foundation has released its state business tax climate index for 2016; notable changes to this year's rankings include Illinois' jump from 31st to 23rd due to the sunset of corporate and individual income tax increases, Nevada's fall from third to fifth due to its commerce tax, and New Mexico's jump from 35th to 27th due to a corporate income tax reduction.

North Carolina
North Carolina expands incentive program to increase investment, Tax Notes (December 1, 2015)**
In September, North Carolina Gov. Pat McCrory (R) approved significant amendments to the state's flagship investment incentive program, the Job Development Investment Grant (JDIG). The North Carolina Department of Commerce administers the JDIG program. The cash grant can be awarded to a company that is able to commit to an investment project that generates a significant number of full-time jobs and, for mega projects, a threshold investment value based on local property tax values. The legislation (HB 117) also introduces a mechanism to gross up the amount of the available funds in the grant pool for 2015 and subsequent calendar years for some mega- or high-yield projects. The grant pool for any year will be increased significantly if the state enters into at least one incentives agreement with a business for a high-yield project.

Our opinion: Our "new" council, Greensboro News & Record (December 6, 2015)
Greensboro, North Carolina moves towards a more collaborative approach to economic development.

JDIG and Medicaid: Two NC laws with major business implications in 2015, Triangle Business Journal (December 9, 2015)
Lawmakers approved a package that extends the Job Development Investment Grant (JDIG) programs through 2018.

Womble Carlyle launches Strategic Initiatives Group; Entrepreneur, Former Google Executive Rhett Weiss to lead new team, (December 9, 2015)

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