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North Carolina’s economic develoment efforts recognized for top accounatbility standards

Posted By Allan Freyer On January 30, 2014 @ 4:06 pm In NC Budget and Tax Center | Comments Disabled

In good news on the government accountability front this week, Governor McCrory and Commerce Secretary Decker put the brakes on privatizing the state’s economic development efforts, postponing the creation of the new nonprofit development corporation until the start of the new fiscal year in July [1]. Ostensibly, the move is intended to make sure the transition to this new public-private partnership goes as smoothly as possible, given the catastrophic mistakes and complete lack of accountability suffered by other states when trying this approach. And the legislature would like to weigh in as well, given that the authorizing bill for all this never passed last year.

So it’s worth taking advantage of this pause in the rush to privatization to ensure that the state’s economic development efforts remain both effective and accountable. Fortunately, North Carolina has a long tradition of accountability in business development, a point made in a well-timed study [2] released this week by national economic development watchdog Good Jobs First, and this is a tradition the state should continue.

According to the report, the Tarheel State has the third best accountability system [2]in the country in terms of monitoring and disclosing whether companies live up to their promises of job creation.

This is a tradition that the state needs to continue and extend to the activities of the new development corporation, including the private sector donors and the proposed closing fund.

 


Article printed from The Progressive Pulse: http://pulse.ncpolicywatch.org

URL to article: http://pulse.ncpolicywatch.org/2014/01/30/north-carolinas-economic-develoment-efforts-recognized-for-top-accounatbility-standards/

URLs in this post:

[1] postponing the creation of the new nonprofit development corporation until the start of the new fiscal year in July: http://www.wral.com/commerce-slows-transition-to-public-private-partnership/13334198/

[2] well-timed study: http://www.goodjobsfirst.org/showusthesubsidizedjobs

[3] House proposal for Commerce privatization better than Senate’s… barely : http://pulse.ncpolicywatch.org/2014/06/10/house-proposal-for-commerce-privatization-better-than-senates-barely/

[4] NC Budget Magnifying Glass: Senate budget cuts to economic development would spawn nightmare on (rural) main streets : http://pulse.ncpolicywatch.org/2014/06/09/nc-budget-magnifying-glass-senate-budget-cuts-to-economic-development-would-spawn-nightmare-on-rural-main-streets/

[5] House budget better than Senate on economic development, still falls short of what’s needed : http://pulse.ncpolicywatch.org/2014/06/18/house-budget-better-than-senate-on-economic-development-still-falls-short-of-whats-needed/

[6] Weak job growth slows down recovery across many North Carolina metros : http://pulse.ncpolicywatch.org/2014/05/28/weak-job-growth-slows-down-recovery-across-many-north-carolina-metros/

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