Chinese smartphone assembler Foxconn could be the first company to benefit from a proposed North Carolina incentive program for massive job creation.
N.C. House Speaker Tim Moore said Thursday the state is on the cusp of landing a major industry that would employ 8,600 people in one facility. Moore made his remarks Thursday, after the state legislature approved a new corporate incentive within the state budget sent to Gov. Roy Cooper.
The incentive is designed for a company that invests more than $4 billion and creates at least 5,000 jobs in the state. Such a company would qualify for a refund of its tax bill for up to 25 years. Current law allows up to 20 years, but the most the state has awarded is 12 years.