Audit criticizes NC economic development program

Jul. 29, 2013 @ 02:29 PM

A North Carolina audit is finding problems with a program that gives businesses big tax breaks.

At issue in the report State Auditor Beth Wood released Monday are grants issued under the Commerce Department's Job Development Investment Grant program. The decade-old program has awarded 145 grants totaling more than $145 million.

The audit says state officials are relying on companies to confirm they've met job-creation and investment targets without independently checking the information. It also says the committee that oversees the JDIG program should be informed about other companies being considered.

The audit recommends that the Commerce Department confirm the accuracy of company data used to compute grant payments. The audit says program also needs measurable criteria to determine grant award amounts.