Governor Pat McCrory is reportedly considering calling the General Assembly into special session to put more money into one of the state’s primary business incentive schemes, the Job Development Incentive Grant program, or JDIG.
Commerce Secretary Sharon Decker says the state is pursuing several big economic development projects and is bumping up against the $22.5 million cap on JDIG grants.
If all this sounds familiar, it should. Decker was openly calling for special session two months ago. Here’s what she told the N.C. Economic Development Board in August.
Decker told board members that money in the popular JDIG incentives fund would run out by late October without legislative action to increase the cap. The state, she said, is pursuing a large project that would take 80 percent of the fund’s balance, leaving little cash for about 30 other projects – and roughly 10,000 jobs – that are “in the pipeline.”
“We won’t get all of those jobs even with the Job Development Investment Grant, but I can assure you we will get fewer of them if we don’t have it,” Decker said.….Decker wants a special session to be called soon. “Several folks have said to me, ‘Can you wait until the (2015) long session?’ We can’t, in my opinion,” she said.