The Womble Carlyle Economic Development Digest - September 9, 2014

Womble Carlyle’s Economic Development Digest aggregates news, opportunities and legislation impacting business in the United States.

In this week's Economic Development Digest:

California

Tesla reportedly chooses Nevada for big factory; California falls short, The Sacramento Bee (September 5, 2014)Tesla reportedly chooses Nevada over California for the “much-coveted” $5 billion “Gigafactory”.

Florida

Florida Governor proposes $1 billion in tax cuts, TaxAnalysts.com (September 3, 2014)**Florida Gov. Rick Scott (R) on August 29 called for $1 billion in tax cuts, a move that immediately drew fire from the camp of Democratic gubernatorial challenger Charlie Crist.

Daytona International Speedway getting in line for sales tax rebates, The Daytona Beach News-Journal (September 2, 2014)Daytona International Speedway in Florida may receive $3,000,000.00 per year for the next 30 years for improvements.

North Carolina

Legislative session closes while campaigning, work remains, The Stanly News & Press (August 28, 2014)North Carolina Governor Pat McCrory may call North Carolina lawmakers back to address economic development opportunities.

North Carolina Governor under pressure to call special session on tax credits, TaxAnalysts.com (September 9, 2014)**Demands for Gov. Pat McCrory (R) to call the North Carolina General Assembly back for a special session to restore the state's film tax credits and other economic incentives have grown increasingly louder since lawmakers adjourned their 2014 session on August 20.

South Carolina

Gov. Haley touts successes in Summerville stump, The Post & Courier (September 4, 2014)Independent candidate Tom Ervin conducts a town-hall meeting in South Carolina in his quest to unseat South Carolina Governor Nikki Haley, and he touts eliminating the South Carolina income tax.

York County Council meets to vote on tax district extension, Herald Online (September 3, 2014)A week after the local school board formally objected to an extension of the special tax district for another 10 years, the York County Council deferred sending a letter to the city agreeing to the extension. All taxing entities must agree to put any increased revenue into the tax district, therefore the city needs agreement from York County and the local school district to extend the term.

Texas

New Texas R&D credit offers sales or franchise tax breaks but not both: An explanation of requirements and benefits, TaxAnalysts.com (August 28, 2014)**The Research and Development tax credit in Texas, which took effect Jan. 1, 2014, provides companies the option of selecting either a sales tax exemption on property purchased by persons engaged in qualified research activities or the franchise tax credit, but not both. Giles B. Sutton, a partner with McGuire Woods LLP in Washington, D.C. offers a primer on the technical nuances of this new incentive.

Local officials fighting back in corporate appraisal disputes, Waco Tribune-Herald (August 23, 2014)Corporate property tax appraisal disputes are gaining attention in Texas.

**Note: a paid subscription is required to access this article. A brief description has been provided. Please contact Womble Carlyle’s Economic Development Team for more information on these developments.

Womble Carlyle's Economic Development Team helps clients explore opportunities for locating or expanding operations in the Southeast and Mid-Atlantic U.S. Our Economic Development Team combines a thorough working knowledge of economic development incentives; land use and siting procedures; and regulatory matters at the state, county and local levels, drawing on strong relationships built over many years with key governmental and civic leaders. For more information visit www.wcsr.com/Practices/Economic-Development.

If you have any questions about this Economic Development Digest, pleasee-mailEconDigest@wcsr.comor contactany member of Womble Carlyle's Economic Development Team.

Contacts

North Carolina

Charlotte

Raleigh

Research Triangle Park

Winston-Salem

John Hunter

704.331.4951

JHunter@wcsr.com

Don Donadio

919.755.2102

DDonadio@wcsr.com

Neill Edwards

919.484.2357

NEdwards@wcsr.com

Alfred Adams

336.721.3642

AAdams@wcsr.com

Chris Kouri

704.331.4987

CKouri@wcsr.com

Nellie Shipley

919.755.2107

NShipley@wcsr.com

South Carolina

Charleston

Columbia

Morris Ellison

843.720.4614

MEllison@wcsr.com

Todd Carroll

803.454.7730

Todd.Carroll@wcsr.com

Foster Gaillard

843.720.4610

FGaillard@wcsr.com

Kevin Hall

803.454.7710

Kevin.Hall@wcsr.com

Stephanie Yarbrough

843.720.4621

StYarbrough@wcsr.com