The Charlotte Regional Business Alliance Advocacy Committee recently gathered at NASCAR Productions in Concord. The committee toured the new facility and engaged in a dialogue on the upcoming North Carolina Legislative Session. North Carolina Senate Majority Leader Paul Newton offered the group a legislative preview for the short session.
Newton covered budget adjustments and addressed various topics such as tax policy, transportation/infrastructure, broadband, and childcare, highlighting their significance for the business community and the state’s economic development efforts.
Newton answered a question about the franchise tax, saying it should be the next significant tax issue taken up by the legislature. He noted recent modifications to the franchise tax as well as reductions made to the corporate tax, helping to make the state attractive to businesses.
On housing, Newton is a proponent of letting the free market work. He shared that 24% of the cost of building new housing comes from local regulations. Working with local officials is critical in keeping down the cost of much-needed workforce housing.
As North Carolina attracts talent and businesses, childcare continues to be a challenge, and one of the biggest impediments to business growth, according to Newton. The CLT Alliance continues to support solutions that make childcare more accessible and affordable for working parents.
Newton encouraged continued engagement from the business community in legislative affairs, highlighting the importance of collaborative efforts between both entities to advance shared priorities. “It takes a culture of teamwork. We need to hear from you,” Newton said.
These convenings are fundamental to our joint efforts in advancing the legislative priorities of the Charlotte Region’s business community. They cultivate connections between key elected officials and the region’s business community. The CLT Alliance Advocacy team will continue to foster relationships across the state to ensure the CLT Alliance remains impactful and influential to policymakers as they shape and enact new public policies.
