McCrory pushes to eliminate 'business incentives' cap in North Carolina
RALEIGH (WTVD) -- The McCrory Administration is pushing to eliminate an incentive cap in an effort to lure companies to the Tar Heel State.
The administration says they can't compete with other states and, as a result, North Carolina is losing out on thousands of jobs with every business deal.
"We are the ninth largest, most populous state in United States of America, we better wake up and realize that," said Gov. Pat McCrory.
This year, Mercedes-Benz chose Atlanta instead of Research Triangle Park for its new headquarters.
Volvo also decided on North Carolina's southern neighbor, South Carolina, as the place to build a new multi-million dollar plant.
"It's time to take bold attention at a time when we can afford it, at a time when there would be no tax increase, at time a time when we have AAA bond ratings," said McCrory.
Critics of this request says they want to check the data, to see how many jobs are really created if the governor is essentially given a blank check.
"We can wait a year, we can wait a decade. In the meantime our competition is moving ahead of us," said McCrory.
There is a bill being reviewed now in the Senate Finance Committee, which already passed in the House.
