Raleigh-- Senator David Hoyle sponsored a measure to improve the state’s ability to recruit new technology businesses that passed the North Carolina Senate on May 7.
“North Carolina has long been known as the best state to do business, but in these tough economic times, we need to be doing all we can to create jobs and grow our economy,” Hoyle said. “This plan will make us more attractive to the emerging technology industries that have the potential to bring a huge boost to our state’s economy.”
The measure brings the state’s tax laws more in line with other states to help North Carolina lure industries that make very large investments in capital facilities and do business in more than one state. Examples of these industries could include high-tech manufacturers, datacenters, and sophisticated biomanufacturers.
Hoyle said the proposal is just one of many steps the General Assembly is taking to create jobs and strengthen the state’s economy.
Last month the Senate passed a budget that enhances community college job training, provides urgent loan assistance for small businesses in danger of closing their doors, and helps laid-off workers hang on to their homes. The budget also invests in alternative energy and green jobs, and funds key university initiatives that will focus on growing the economy.
“Even as our economic picture worsens, we must keep fighting to help working families and support our employers,” Hoyle said. “These are tough times that require tough decisions, but creating jobs and working to restore our economy must continue to be our top priorities.”