Business Briefs

Lawmakers debate incentives

Posted January 21, 2009 5:22 p.m. EST

— Lawmakers on Wednesday debated the practice of providing companies tax incentives to locate or expand in North Carolina.

Legislative committee members said they don't like luring businesses with targeted incentives but said it's necessary to be competitive.

"Do I prefer doing something other than incentives? Yes, I do. Is it a reality in this state and nation? No, it's not," said Rep. Mitch Gillespie, R-McDowell.

North Carolina provided lucrative packages to attract companies like Dell, Google and FedEx to the state.

Despite the tough economy and a projected $2 billion budget deficit, lawmakers are expected to continue the tax breaks.