Recycling companies can write off some of their equipment costs over a 10-year period, while coal companies get tax breaks by preserving jobs and mining old coalfields. Keeping jobs that are here is important. Lief says incentives for both new and existing business are among the things that will be addressed in an update of the state's overall strategic plan. The General Assembly, in its budget, mandated a study of all economic incentives. We look forward to doing that study so we can get the most bang for our buck.
Incentives do make a difference.
Kilduff says these incentives gave the state an edge. So far, the solar and semiconductor grants are the only state programs that reward companies in specific industries for performance. What we have to do is work with what the marketplace is giving us at any given time. Holland introduced his bill at the behest of then-Gov. George Allen, who closed the Chaparral deal in late 1997.