House budget could make RTP tennants look elsewhere
The tech and life sciences industries are booming, and the Triangle Research Park, and North Carolina as a whole, is one place that is benefiting greatly from the growth. However, the House budget, which doesn't include reasearch and development tax credits this year, could threaten all of that.
At least that’s the fear – that the state’s large tech and life science employers might focus their job growth elsewhere. For technology, that would mean power players, such as IBM and Cisco, would focus their R&D growth in their facilities in other states with R&D tax credits.
Spokesman Adam Pratt has said IBM’s $300 million per-year investment in North Carolina R&D activity “is made possible in-part by the state’s forward-thinking tax credit program."
From the Triangle Business Journal