1 Comments for this article

Tags: , , , , , ,


RALEIGH, NC (AP) — The head of North Carolina’s economic development agency says she wants to tax fracking to raise money for incentive deals that can lure companies to locate or expand in the state.

The News & Observer reports that Commerce Secretary Sharon Decker told a group of business and community leaders Wednesday she wants to create a business recruiting fund similar to Gov. Rick Perry’s in Texas, that’s financed by energy taxes.

Decker says energy companies are willing to help in a climate where Republicans lawmakers are unlikely to raise other taxes, such as income and corporate taxes, to pay for incentives.

Decker is an advocate of underground gas drilling method known as fracking, short for hydraulic fracturing. She says it also represents a revenue stream for economic growth.

(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

Comment on this Story

  • Vog46

    Republicans don’t raise or create new taxes

    I would be surprised if fracking takes place in any great amount here. The price of NG is so low as to make it unfeasible for such a big upfront investment, AND, the easy to “frack” California gas and oil fields are close to being “ready” (permit wise) for drilling.

    I dislike incentives, but I would suggest that the movie incentives used to bring part time jobs here be used, instead,for full time, permanent North Carolina company’s/jobs.

    But I find this whole “Pay to play” thing incredibly disingenuous.
    But in reading the story I came away with the impression that the fracking,in and of itself will not attract side businesses here – which is why Decker is proposing the tax to lure company’s here. It would appears as though the oil/gas “boom” is highly over stated eh?



Related News