Since Amazon’s announcement that Raleigh made the 20 finalist cities list for a second headquarters, there has been a good deal of debate about corporate incentives in North Carolina.
You can hear a short summation of my thoughts on corporate tax burdens and incentives in a clip from Spectrum News here.
Below are some interesting statistics about the corporate welfare incentive packages finalized by North Carolina state government in 2017.
1.5 billion – amount in dollars of the value of incentives offered to a joint Toyota-Mazda auto plan, which was rejected
167.8 million – amount in dollars of the deals the Cooper Administration struck to potentially grant in incentives
671.2 million – amount in dollars in incentives the Cooper Administration is on pace to grant over a four-year term
54 –number of companies that made North Carolina incentive agreements in 2017
60.1 – percentage of 2017 potential incentive funding directed to deals in Durham, Mecklenburg and Wake counties
23.2 – percentage of North Carolina’s population in Durham, Mecklenburg and Wake counties
12.8 – percentage of 2017 potential incentive funding directed to deals in Edgecombe County
0.5 – percentage of North Carolina’s population in Edgecombe County
33,500 – amount in dollars of the potential payout per job to Credit Suisse, which received a Jobs Development Investment Grant (JDIG) in May 2017 and was the largest incentive agreement in 2017
15 – number of jobs that Advanced Digital Cable projects it will create due to a One North Carolina Fund Grant, which is the smallest number of job projections from all 2017 incentive deals