Committee Cancels Incentive Grants For Triad-Area Companies
A North Carolina committee has ended several grants awarded to three companies for failing to meet hiring goals.
The News & Observer of Raleigh reported Friday the state's Economic Investment Committee cancelled the grants awarded during former Gov. Bev Perdue's administration.
Ralph Lauren agreed to create 500 new jobs for up to $2.5 million in incentives. But The Charlotte Observer reported layoffs have left the company with approximately 1,200 full-time employees in High Point.
Winston-Salem-based technology company Inmar promised to create around 200 jobs, but N.C. Commerce Department spokesman David Rhodes said it wasn't in compliance on a new job creation target.
IEM in Morrisville said it would create 430 jobs in return for $9 million in incentives over 12 years. Commerce officials said IEM now has only 113 employees.