A welcome shift in economic incentives

Rural North Carolina is finally getting some economic attention from the N.C. General Assembly.

A bill approved this week by the N.C. Senate Finance Committee would direct incentives money from the Job Development Investment Grant to poorer counties across the state.

The bill, authored by N.C. Senate Majority Leader Harry Brown, R-Jacksonville, would set a reasonable limit on the amount of incentives money going to wealthier counties. About half of the $20 million available annually through the Job Development Investment Grant could go to the 20 wealthiest counties in the state.

That makes sense. Raleigh, Charlotte, the Greensboro-High Point area and other growing communities don’t need incentives to attract new business and industry.

Eastern North Carolina and counties in the mountains certainly do.

Job performance bonuses also would be restricted to attracting companies to the other 80 counties.

That’s a welcome shift in the state’s focus when it comes to economic recruiting. But North Carolina needs to do more to make sure it can move swiftly and nimbly when a big player is at the table.

On too many previous occasions, our state has lost out to South Carolina, Alabama and other states that have put together bigger incentives packages more quickly for car makers and other blue-chip manufacturers.

That’s the kind of development that can make a huge difference to economically distressed communities.

We applaud Sen. Brown’s initiative. Here’s hoping the General Assembly will take the plan further.

http://www.rockymounttelegram.com/Editorials/2017/04/27/A-welcome-shift-in-economic-incentives.html