North Carolina used to provide a very friendly environment for businesses compared to other states in the south east. Consequently, unemployment rates in North Carolina were about 1% lower than the national average.
Wasteful spending on projects such as the Global Transpark and a rapid increase in taxes has made us less less attractive to business. The result has been a sharp increase in unemployment; the state now exceeds the national average by 1%.
Instead of addressing the root causes, Democrat leaders Easley, Black and Basnight panicked; they set up a slush fund to lure businesses back to North Carolina. This is the worst kind of "Corporate Welfare" that will attract the wrong kind of company and spawn one scandal after another.
There is a better way as demonstrated by the Republic of Ireland. They use the tax code to provide business incentives. This ensures fair treatment for everyone without corruption or cronyism. In the 2001 "Index of Economic Freedom" (Wall Street Journal & Heritage Foundation), the Republic of Ireland ranked #3 behind Hong Kong and Singapore. The USA ranked 5th equal with Luxembourg.