Gov. Bev Perdue announced today that her budget proposal will include a package of innovative strategies to help create jobs and boost manufacturing in North Carolina. The package includes: tax relief, tax credits and export assistance, as well as support specifically aimed at small businesses.
"My top priority is creating jobs and getting North Carolinians back to work," said Gov. Perdue. "Investing in manufacturing will help spur job growth and keep North Carolina competitive."
The jobs and manufacturing initiatives include:
Extend Tax Credits that Support Growth of Jobs and Investment
Several key tax credits that support job creation and investments in manufacturing are due to sunset at the end of 2012 and would be extended.
Article 3J tax credits for expanding businesses.
Sales tax refund on construction materials used in high-impact business expansions
Sales tax refund for machinery and equipment put in service in disadvantaged or poor counties.
Small Business Global Manufacturing Export Support
$500,000 in additional funding to the Department of Commerce International Trade Division to support the activities of North Carolina small manufacturing companies seeking to expand jobs by selling products in the global marketplace.
Funds will be used to help small manufacturers market products and access customers in key international markets including China, Europe, India and South America.
Expand Biz Boost Business Assistance Services for North Carolina Manufacturers
$1 million to the North Carolina Commissioner of Small Business to expand the Biz Boost program to cover more small- to medium-sized North Carolina based manufacturing companies.
The Biz Boost program identifies North Carolina businesses in all regions of the state that face challenges in the current economic climate and targets resources and technical assistance to help them keep and add jobs and enhance their competitiveness.