Increases spending by over $1.1 billion over the next year. This includes raising corporate welfare for the film industry from $30 million to $40 million.
It also preserves North Carolina’s largest corporate welfare fund, the Job Development Investment Grant (JDIG). The JDIG doles out taxpayer money to bring business to North Carolina. Not only does this program favor the well-connected, it’s also a massive waste. In 2015, 40 percent of the companies that received a grant from the JDIG failed to produce any jobs for North Carolina.
It’s not the government’s job to pick winners and losers. Doing so punishes merit and rigs the system against small businesses and entrepreneurs. It’s no wonder these programs don’t improve the economy for North Carolinians.