Connect with us

North Carolina

Apple Delays Build Of Taxpayer-Subsidized North Carolina Campus

Published

on

Apple Delays Build Of Taxpayer-Subsidized North Carolina Campus


Apple Inc. appears to be delaying its plans to build a corporate campus in Research Triangle Park, which is sited on the boundaries of Raleigh, Chapel Hill and Durham in North Carolina.

Construction was originally slated to begin in 2026, but the tech giant has reportedly told state officials of its desire to delay groundbreaking for up to four years. The delay would be a considerable setback for the area, which anticipated substantial economic growth and job creation from the project.

Advertisement

The first phase of the project was expected to include six buildings across 41 acres, with a promise of a future expansion on a 281 acre site. The proposed project was intended to house roles in machine learning, artificial intelligence, and software engineering, with estimates of 3,000 jobs with salaries approaching $200,000.

As the region grapples with news of the delay, the broader implications in terms of economic development are somewhat less clear. The taxpayer-funded incentives bound up in the project may have made the development less of an unalloyed positive for North Carolinians.

Massive Taxpayer Contributions

The cost to North Carolina for securing Apple’s investment was substantial, with $845.8 million in tax breaks promised over 39 years and local incentives adding another $20 million. The all-in cost to taxpayers totaled nearly $1 billion, or roughly $333,000 per job added.

For context, this is just a few thousand dollars shy of a noted tax incentive boondoggle: the “border war” between Kansas City between Missouri and Kansas. There, some 414 jobs were created in Kansas at a cost of $340,000 per job.

Advertisement

The track record of the Job Development Investment Grant Program, which would facilitate the tax breaks accruing to Apple, has been mixed at best. Notable projects that have also been pushed back by the recipients of tax incentives include an agreement with Allstate to create 2,200 jobs which was made impractical by a shift to remote work and a commitment by a Vietnamese automaker to create 7,500 jobs which has been delayed until 2025.

Apple’s decision to delay the construction of its Research Triangle Park campus brings into question the future economic impact on the Raleigh-Durham area—but it is far from clear the result will be a net negative for North Carolina taxpayers.

Tax Incentives and Job Creation

The efficacy of tax incentives in fostering job creation more broadly has been long debated. While incentives are often touted as necessary to attract large companies and thereby spur economic development, evidence has for some time suggested that they may not be as effective as advertised.

One main criticism is that the incentives often result in a relocating of existing jobs rather than the creation of new ones—put differently, there is no net addition of jobs to the economy writ large, merely a subtraction from one region or state and an addition in another. This can have beneficial local effects, but those effects may be blunted by the broader net loss inherent where an expenditure is made to maintain the same total number of jobs.

The practice of offering tax incentives leads to a zero-sum game, where cities or regions engage in a destructive bidding war, each vying to spend more taxpayer money to the benefit of no one save for the corporations being fought over.

Advertisement

In fact, research suggests that the primary drivers of job growth are not older firms—but young firms. This would suggest North Carolina would be better off incentivizing the next Apple to start its business in the Research Triangle, rather than trying to attract existing behemoths. Newer firms inject competition, spur innovation, and are more likely to hire new workers.

Thus, policies that support the creation of new businesses, rather than providing tax incentives to existing ones, may be more beneficial for long-term sustainable development—but they don’t make the headlines.



Source link

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

North Carolina

Report: Asheville gas prices rise, more increases expected amid war in Middle East

Published

on

Report: Asheville gas prices rise, more increases expected amid war in Middle East


Drivers in Asheville are paying slightly more at the pump this week, even as prices remain below where they were a year ago. Amid a rapidly escalating war in the Middle East, however, fuel prices are expected to rise even further.

Average gasoline prices in Asheville have risen 2.1 cents per gallon in the last week and are averaging $2.70 per gallon on Monday, March 2, according to GasBuddy’s survey of 259 stations in Asheville. Prices in Asheville are 2.3 cents per gallon higher than a month ago and stand 10 cents per gallon lower than a year ago, per the GasBuddy report.

Neighboring areas also saw increases, according to new data. Spartanburg is averaging $2.66 per gallon, up 9.3 cents per gallon from last week’s $2.57 per gallon. Greenville is averaging $2.65 per gallon, up 8.9 cents per gallon from last week’s $2.57 per gallon.

US STOCKS SLIP, OIL PRICES LEAP WITH WORRIES THAT WAR IN MIDDLE EAST WILL WORSEN INFLATION

Advertisement

According to GasBuddy, gasoline prices nationwide have risen for four straight weeks.

Across the country, the national average price of gasoline has risen 5.6 cents per gallon in the last week to $2.94 per gallon on Monday. The national average is up 7.8 cents per gallon from a month ago and is 10.1 cents per gallon lower than a year ago, according to GasBuddy data.

Diesel prices also moved higher. The national average price of diesel increased 5.4 cents compared to a week ago and stands at $3.740 per gallon.

“Looking ahead, markets will now begin reacting to this weekend’s U.S.–Iran attacks, which have elevated geopolitical risk premiums even in the absence of immediate supply disruption,” Patrick De Haan, head of petroleum analysis at GasBuddy, said via a press release. “In the week ahead, gasoline prices are likely to face heightened upward pressure as seasonal trends continue and markets navigate this evolving geopolitical landscape, with the national average poised to reach the $3-per-gallon mark for the first time this year.”

THE 2026 PRIMARY ELECTION IS ALMOST HERE. HERE’S WHAT YOU NEED TO KNOW

Advertisement

In Asheville, GasBuddy price reports showed the cheapest station was priced at $2.47 per gallon. Meanwhile, the most expensive station was priced at $3.09 per gallon, a difference of 62.0 cents per gallon.

GasBuddy also provided a look at gas prices in Asheville on March 2 in the past five years:

  • March 2, 2025: $2.80/g (U.S. Average: $3.04/g)
  • March 2, 2024: $3.08/g (U.S. Average: $3.34/g)
  • March 2, 2023: $3.14/g (U.S. Average: $3.35/g)
  • March 2, 2022: $3.56/g (U.S. Average: $3.69/g)
  • March 2, 2021: $2.56/g (U.S. Average: $2.74/g)



Source link

Continue Reading

North Carolina

North Carolina father-to-be saved by quick-thinking pregnant wife after suffering sudden heart attack

Published

on

North Carolina father-to-be saved by quick-thinking pregnant wife after suffering sudden heart attack


A North Carolina man who unknowingly lived with a rare heart condition was saved by his pregnant wife after he suddenly went into cardiac arrest while lounging in bed.

Brandon Whitfield, 39, was already preparing for one drastic lifestyle change when his wife, Angela, became pregnant last spring.

Then, he suffered an unexpected heart attack when she was just nine weeks along.

Brandon Whitfield, 39, went into cardiac arrest while watching the hockey playoffs WSOC – TV

“I was eating carrot cake in bed watching the hockey playoffs. And mid-conversation, I just started to slump over,” Brandon recounted to WSOC-TV.

Advertisement

Angela didn’t think anything of it for a few seconds, figuring Brandon might just be groggy or joking, but “jumped into action” when she realized “this was an emergency.”

Thankfully, Angela has worked as a physician assistant for more than a decade. She knew what to do instantly and, after calling 911, started to perform CPR on her prone husband.

Angela was shaken in the moments after, though, as she started to rationalize what she’d just had to do.

“You absolutely never ever think you are going to have to do CPR on your spouse,” she told the outlet.

Angela Whitfield, a trained physician assistant, performed CPR while waiting for paramedics to arrive at their home. WSOC – TV

“I thought I may be a widow,” she added.

Advertisement

Brandon was rushed to a nearby Novant Health medical center and, to his horror, diagnosed with a rare heart condition.

“Just because you’re young and you’re fit and you’re relatively healthy doesn’t mean that heart disease can’t happen to you,” Brandon told the outlet.

Brandon was diagnosed with a rare heart condition that required him to change his eating habits. WSOC – TV

Brandon was quick to laud his wife with praise.

“It was nothing short of a miracle. Everything lined up for her to be there. It was not my time,” he said.

In the wake of his shocking diagnosis, Brandon had to adopt a Mediterranean diet and is trying to be “more mindful” about what he eats — which means no more carrot cake.

Advertisement

After his brush with death, the dad-to-be implored others who may be taking their lives for granted to make sure they don’t leave anything unsaid, just in case their final days are nearer than they think.

“If you can do something today, do it today. If you can tell your family you love them, do it,” he said.



Source link

Advertisement
Continue Reading

North Carolina

How to buy tickets for Duke basketball vs NC State in ACC contest

Published

on

How to buy tickets for Duke basketball vs NC State in ACC contest


It’s Duke basketball against N.C. State at the Lenovo Center on Monday, March 2.

The top-ranked Blue Devils (27-2, 15-1 ACC) and head coach Jon Scheyer are set to take on the Wolfpack (19-10, 10-6) and first year head coach Will Wade at 7 p.m. on ESPN in Raleigh.

Duke is coming off its sixth-straight win, a 77-51 rout over Virginia at Cameron Indoor Stadium. N.C. State, which has lost four of its last five, is coming off a 96-90 road loss in overtime to Notre Dame. The Blue Devils sit atop conference standings while the Wolfpack rank sixth in the league.

Advertisement

The Blue Devils own the all-time series against the Wolfpack 83-52 and sit at 27-27 on the road at the Lenovo Center. Duke has won six out of its last four contests against N.C. State.

Here’s how to buy tickets for Duke basketball vs. N.C. State:

Duke basketball tickets vs NC State

Duke has established a ticket waitlist program for men’s basketball games. Fans can register for the waitlist at GoDuke.com. Those on the waiting list may have the opportunity to purchase tickets, when and if tickets become available. Iron Dukes members have the first opportunity to purchase available tickets.

Advertisement

As for the secondary market, ticket prices for Duke’s game vs. N.C. State start at $72 on StubHub and go upwards of $712. On VividSeats, tickets range from $62-$1,156 while ranging from $63-$432 on Ticketmaster.

To see a full list of ticket prices, visit StubHub.

What time is Duke vs NC State?

Date: Monday, March 2

Time: 7 p.m. ET

The Duke basketball game vs. N.C. State game tips off at 7 p.m. ET from the Lenovo Center in Raleigh, North Carolina.

Advertisement

Where to watch Duke vs NC State

TV Channel: ESPN

Stream: Fubo

The Duke vs. N.C. State game will air on ESPN and can be streamed on Fubo, which offers a free trial to new subscribers.

Anna Snyder covers Duke for The Fayetteville Observer as part of the USA TODAY Network. Reach her at asnyder@usatodayco.com or follow her @annaesnydr on X, formerly known as Twitter. 

Advertisement



Source link

Continue Reading

Trending