North Carolina may raise tax breaks as Apple weighs decision
RALEIGH, N.C. (AP) — North Carolina legislators are considering more than doubling state tax breaks offered to companies that promise to bring lots of high-paying jobs but aren’t quite “transformative.”
Legislation introduced Tuesday in the state General Assembly would raise the maximum tax break allowed for those companies by nearly 150 percent to $16,000 per job each year.
The change would apply to high-profile projects that aren’t the so-called “transformative” companies eligible for massive state subsidies. That describes companies generating 3,000 jobs and investing at least $1 billion.
The tax breaks tweak comes six months after The Associated Press reported tech giant Apple was considering North Carolina for a new corporate campus employing 5,000 jobs and possibly many more. Raleigh this month lost out on hosting an East Coast headquarters operation for Amazon.