Tuesday, May 12, 2009
Rotten Apple in Raleigh
Posted by John Grooms on Tue, May 12, 2009 at 2:52 PM
The law that's supposed to lure Apple Computers to North Carolina could also wind up deterring more job creation if the company is more successful here than expected.
First, some background: The General Assembly in Raleigh has been in a big hurry lately to pass a bill offering new forms of tax incentives to Apple Computers, which is considering building a facility somewhere "in the western part of the state." Under the bill, companies that are designated "capital intensive" would only pay taxes on their N.C. sales, rather than the way other companies pay, with taxes based on sales plus a company's property and payroll. The big, big downside, though, as pointed out by The Progressive Pulse, is that if a company receiving such a tax break wanted to expand its work force in North Carolina, they could lose their "capital intensive" designation and thus, raise their own taxes. In other words, the state is offering incentives for Apple to build here, but at the same time is effectively dissuading Apple from hiring more people. What will those wacky lawmakers think of next?
Progressive Pulse also noted that yesterday, Dell Computers in Winston-Salem revealed its plans for layoffs at its N.C. facility. As PP writer Elaine Mejia put it, "Guess that special tax credit for 'computer manufacturers' that we put in place to lure Dell isn't working out so well. So much for learning from past mistakes."
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