North Carolina’s Rural Infrastructure Authority (RIA) recently approved 16 infrastructure grant requests that will cost taxpayers a staggering $3,948,755.
The purpose? The North Carolina Chamber of Commerce’s team of 15 unelected bureaucrats intends to spend taxpayer-funded grants in the name of “economic development” to “find solutions that help attract businesses.”
Following the grant request approvals, $3.9 million will be awarded to local governments and businesses to renovate vacant buildings and expand existing businesses’ buildings in rural areas.
$3.9 million is a sizable amount of money – and it has to come from somewhere. In this case, funds will come out of the pockets of young people and hard-working North Carolinians to give already-profitable businesses an incentive to build and expand in North Carolina.
This is only the latest egregious example of North Carolina government officials freely spending the hard-earned funds of North Carolina taxpayers. In recent months, North Carolina has also offered untold sums of taxpayer dollars to incentivize Amazon to build its second headquarters in Raleigh.
Corporate welfare is a bad deal for North Carolinians. It enables politicians to pick winners and losers in the marketplace, prioritizing favored interests over others, rather than allowing businesses and individuals to compete and foster economic growth.
Rather than waste hard-earned taxpayer dollars on corporate welfare schemes, North Carolina lawmakers should improve their already strong tax policies to attract more businesses to the Tar Heel State.
Tell Gov. Roy Cooper that enough is enough! It’s time to end corporate welfare in North Carolina for good.