Womble Carlyle’s Economic Development Digest aggregates news, opportunities and legislation impacting business in the United States.

In this week's Economic Development Digest: 

California

Tesla reportedly chooses Nevada over California for the “much-coveted” $5 billion “Gigafactory”.

Florida

Florida Gov. Rick Scott (R) on August 29 called for $1 billion in tax cuts, a move that immediately drew fire from the camp of Democratic gubernatorial challenger Charlie Crist.

Daytona International Speedway in Florida may receive $3,000,000.00 per year for the next 30 years for improvements.

North Carolina

North Carolina Governor Pat McCrory may call North Carolina lawmakers back to address economic development opportunities.

Demands for Gov. Pat McCrory (R) to call the North Carolina General Assembly back for a special session to restore the state's film tax credits and other economic incentives have grown increasingly louder since lawmakers adjourned their 2014 session on August 20.

South Carolina

Independent candidate Tom Ervin conducts a town-hall meeting in South Carolina in his quest to unseat South Carolina Governor Nikki Haley, and he touts eliminating the South Carolina income tax.

A week after the local school board formally objected to an extension of the special tax district for another 10 years, the York County Council deferred sending a letter to the city agreeing to the extension. All taxing entities must agree to put any increased revenue into the tax district, therefore the city needs agreement from York County and the local school district to extend the term.

Texas

The Research and Development tax credit in Texas, which took effect Jan. 1, 2014, provides companies the option of selecting either a sales tax exemption on property purchased by persons engaged in qualified research activities or the franchise tax credit, but not both. Giles B. Sutton, a partner with McGuire Woods LLP in Washington, D.C. offers a primer on the technical nuances of this new incentive.

Corporate property tax appraisal disputes are gaining attention in Texas.