Small Business Growth
Small businesses (those businesses that have 20 or less employees) employ over 85% of the workforce.
We must create an economic climate that provides incentives to hire more employees and expand operations through tax breaks linked directly to each additional hire
Retrain our current workforce to be able to compete for 21st Century jobs that require computer or other specialized skills
MORE ON OUR DISTRICT ECONOMY
The unemployment rate in our counties is almost twice the national average
Vance County is 15% which means 2,902 people are without work. That is a 2% increase over the past year.
Warren County is 14.5%, which means 1,107 people are unemployed. That is a 1.2% increase.
Granville County is 10.3%, which means 2,759 people are out of work, a tenth of a percent increase from last year.
These numbers do not tell the whole story, because the impact is much greater than that: those are mothers and fathers, trying to take care of their families.
The best way to create jobs is to create an environment where small businesses (those business that have 20 or less employees) can grow hire more people.
We do that through a smart tax incentive package for small businesses that provides enough to fund a full-time position, and incentives for investment in infrastructure including technology, expansion and marketing.
We create that environment by providing employers with a qualified workforce: people that are prepared to work in the industries of the future
We can pay for this by eliminating some of the 6 billion worth of tax exemptions written into our tax code.
There is absolutely no reason, when the state is facing an all-time high budget shortfall and firing teachers and other state employees, to write into our state tax code, millions of dollars of corporate tax loopholes
A good place to start would be to end the practice of allowing multi-state corporations to shift profits to subsidiaries in other states to avoid paying N.C. corporate income taxes. That would bring in more than $30 million dollars a year and could raise as much as $100 million in future years. It makes sense economically, but also from a position of principle: if we're good enough for them to make money off of us, then we are good enough for them to pay their fair share of taxes.