Report Calls for Reform of Economic Incentives
Better incentives for economic development are one way to tackle North Carolina's high unemployment rate. That's according to the non-profit North Carolina Budget & Tax Center. Report author Allan Freyer says the state should change how it attracts companies.
Allan Freyer: The state should reform its economic development incentive policies, specifically to be geared toward creating more and better jobs for the state's workers along with a more accountable job creation process, so that firms actually live up to the promises they make in exchange for the taxpayer dollars we give them.
Freyer says the state should target high-growth, high-wage industries, as the state's industrial profile changes. The report also recommends tighter requirements on wages, performance, and longevity for all companies receiving incentives. It argues that otherwise, the investments aren't worth it.