How has the local, state, or federal government promoted economic growth in your area? In what ways do you think it was a success or a failure?
PLEASE EXPLAIN WHETHER YOU AGREE WITH MY CLASSMATE RESPONSE TO THE ABOVE QUESTION AND WHY? (A MININUM OF 125 WORDS)
One state economic policy for the state of North Carolina is to divide the state into economic zones. The easiest way to divide the state is through the counties, as each county maintains statistical analysis of their economics. There are 100 counties in North Carolina and the state governor, Roy Cooper addresses each county in a tier system. There are three tiers, the bottom 40, mid 40 and top 20 (tier 1, 2, and 3 respectively). Each is divided into economic activities and the counties located in the bottom and mid 40 are incorporated into various state programs and economically encouraging activities. Targeting the less prosperous areas help build up and define a better living for parts of the state in the most need. This type of economic encouragement has lent major companies developing in NC. Google established a headquarter office at a cost of 1.2 billion dollars, employees 110 and gave 4 million dollars to local schools. All of this was built in the tier 1 county, Lenoir county.
This program of incentives is a success and will continue to be so as Amazon is looking for a headquarters in NC as well. Currently NC houses 14 fortune 500 company headquarters and 26 fortune 1000 company headquarters. The low cost of living and economically thriving business climate with a three percent tax and with access to four international airports make NC an ideal place to grow a business. The state governance allows many incentives to increase and thrive in the business industry that creates jobs for the local people and increase the quality of life for the citizens. An added benefit to companies in NC, is some of the nation’s top-rated schooling systems in the University of North Carolina system, Duke University, Chapel Hill, and numerous others increase qualified workplace pool.