make WWAY your homepage  Become a fan on facebook  Follow us on twitter  Receive RSS Newsfeeds  MEMBERS: Register | Login

General Assembly passes economic incentives compromise


RALEIGH (AP) -- The General Assembly has approved an expanded economic incentives package for large manufacturers, particularly two tire companies.

Lawmakers signed off today on a revised bill originally vetoed by Governor Mike Easley who said it was fiscally unsound.

The new bill was approved 61-44 in the House and 25-16 in the Senate.

It amended legislation initially written to target only a Goodyear Tire & Rubber Co. plant in Fayetteville.

The new version would make it easier for Goodyear rival Bridgestone Corp. to also receive cash grants for making improvements at its plant in Wilson. It also increases the total cost of the grant program from $40 million over 10 years to $60 million.

Easley's office was involved in crafting the compromise, and the governor will likely sign the new bill into law.

(Copyright 2007 by The Associated Press. All Rights Reserved.)

Disclaimer: Comments posted on this, or any story are opinions of those people posting them, and not the views or opinions of WWAY NewsChannel 3, its management or employees. You can view our comment policy here.



The content of this field is kept private and will not be shown publicly.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.

More information about formatting options

To prevent automated spam submissions leave this field empty.
Please re-enter the code shown in the image below.