The News & Observer
November 6, 2015
Nexsen Pruet economic development attorney Ernie Pearson wrote an op-ed that Raleigh's The News and Observer published on November 5.
Pearson, who is President of the North Carolina Economic Developers Association, wrote to counter a recent column in the N&O entitled “Big companies get the incentives.”
Jobs are at a premium. In today’s global community, business retention and recruitment require an emphasis on competitive corporate tax rates, workforce training and the option of economic development incentives to attract businesses and retain and grow current industries. Nearly every state and major country uses these tools to remain competitive.
North Carolina must continue to use these tools to remain competitive in bringing jobs to our state. The state’s Job Development Investment Grant recently did just that. Fidelity Investments announced it will bring 600 jobs to Durham County thanks to the investment in economic development our state has made....
If one takes into account all of the state funding that benefits small businesses, that amount dwarfs what the state spends on business recruitment and expansion incentives.
Ernest C. Pearson is the 2015 President of the NCEDA. His law practice is focused on site selection, incentives and crafting solutions for companies that are expanding or locating new facilities in North Carolina.