Gov. Bev Perdue signed House Bills 1973 and 1035 yesterday that she says will help create jobs for more North Carolinians. Gov. Perdue signed the bills in a ceremony at Epic Games, a video game company headquartered in Cary.
Who will benefit?
• A new tax credit for investments in the digital media industry.
• Extension of tax credits for businesses that create new jobs and new investment.
• Enhancements to North Carolina’s film tax credit to increase our competitiveness in film production.
• Raising the bonding limit for small businesses that compete for small state construction projects — which makes it easier and cheaper for small businesses and historically underutilized businesses to do work for the state.
“This jobs package, which was strongly supported by legislators in both parties, gives North Carolina more tools in our economic development toolbox,” said Perdue. “I intend for us to be as competitive and innovative as any state — both nationally and internationally.”
But really, if legislators in Raleigh wanted to really kick-start job creation, why not give direct tax breaks to small businesses? They will give them to you if you create a job, but that’s putting the cart before the horse. Give the tax break, and then the jobs will come. Of course, if you are in the film industry or digital media, you will get breaks. But the average plumber who is out of work? Maybe there will be a trickle down effect when the big movie makers come to town.