Secretary Sharon Decker attended the 37th South East U.S./Japan Annual Joint Meeting. A statement from her office said North Carolina and Japan have had a strong working relationship for more than 30 years.
North Carolina residents and officials are still disappointed by a failed attempt to bring the North American headquarters of Japanese-based automaker Toyota to the state.
According to documents obtained by The Charlotte Observer, North Carolina offered Toyota $107 million in tax incentives to relocate its headquarters to Charlotte, but the automaker preferred Plano, Texas — despite the fact that the Texas incentives offer was less than half of North Carolina’s pitch.
The decision was largely attributed to direct flights to Japan and no state income or corporate taxes.
John Grimes, mayor of Siler City — the only North Carolina city with a certified mega-site for industrial development — said he was particularly disappointed to see the state lose the opportunity with the world’s largest automaker.
“It would provide us with some very above-average wages for our citizens,” he said. “It would be a boost for our local economy in the sense that we would have more money moving around for our business owners.”
Jonathan Morgan, a UNC School of Government professor, said a major auto production facility could have a sizable ripple effect on the state’s economy.
“The state could use a few possible ‘game-changers’ to accelerate the pace of growth and get N.C. on a trajectory of more robust and sustained economic prosperity that benefits all regions of the state — rural and urban alike,” he said in an email. “A major auto plant would certainly fit the bill.”
