Wolfspeed’s planned $5 billion investment in North Carolina is coming with some big costs: $1 billion in state and local tax incentives, grants, training and a direct appropriation from the General Assembly. But New York was prepared to offer even more, the state’s agreement with Wolfspeed says.
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The North Carolina Rural Infrastructure Authority (RIA) has approved 16 grant requests to local governments totaling $3,938,829, Governor Roy Cooper recently announced. Here are the details.
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The state of North Carolinaand local governments in Chatham County will be forking over a lot of money in tax incentives to bring Vietnam-based VinFast’s electric vehicle manufacturing plant to the state. But an economic formula used to analyze such business recruitment deals says the return should be in the billions for NC.
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The U.S. Department of Commerce’s Economic Development Administration is awarding a $761,040 grant to Vance County to make critical infrastructure improvements needed to support business growth in the Henderson-Vance Industrial Park.
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Thomasville’s economy will add 25 new jobs as Nordfab, a ductwork manufacturer, expands in Davidson County.
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North Carolina’s busy year of economic development – from a new Apple campus to a huge biotech production facility from Fuijifilm to massive automotive battery factory from Toyota – is a record breaker.
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North Carolina’s economy – still rebounding from the COVID-19 pandemic – is getting a boost from three significant new jobs and corporate investments announced Tuesday.
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North Carolina’s latest unemployment figures for May are impressive – the jobless rate is under 5%. But economist Dr. Mike Walden says a deeper look at the labor market reveals that the jobs market is not that positive. In fact, fewer people are working than in April, he points out.
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That rate is up 0.1 of a percentage point from a year ago.
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