The Triangle Business Journal reported yesterday that North Carolina ranks as the second best state to do business in, according to a survey of 543 CEO’s conducted by Chief Executive magazine. Key factors highlighted by business leaders included North Carolina’s low taxes and business friendliness.
But efforts by the State of North Carolina to take over the privately-owned Yadkin Hydroelectric Project could negatively impact the way business leaders view North Carolina in the future. A tax bill proposed by Sen. Stan Bingham that would allow certain N.C. counties to tax companies that produce clean, renewable energy could also have a negative impact on North Carolina’s efforts to establish itself as a national leader in green energy.
Albemarle Mayor Whit Whitley is among those who have expressed concerns to Gov. Bev Perdue that attacks on Alcoa could make it more difficult to attract new businesses to Stanly County.
JP Donlon, editor-in-chief of Chief Executive magazine, said: “As the nation’s economic problems continue to snowball and an increasing number of states experience budgetary problems, state governments ought to take a hard look at their taxation and unionization policies if they want to turn the page and attract new businesses and capital to their provinces.”
If Sen. Bingham’s bill passes the N.C. General Assembly, other N.C. counties will likely seek similar opportunities to raise much-needed tax revenue by levying additional taxes on private companies.
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