Speaker Moore: Massive Volvo Package “Just Didn’t Add Up” for NC

At an NC Chamber meeting this week, Gov. McCrory, House Speaker Tim Moore and other legislative leaders talked state budget and economic incentives. McCrory focused on maintaining his message that NC needs to reach deeper into taxpayer wallets to send a “clear and concise and consistent message” that the state is willing to bribe politically-connected corporations offer competitive economic development incentives to out-of-state companies considering locating in NC.  

Meanwhile, House Speaker Moore told the audience that NC would not be considering such substantial corporate welfare to land chosen businesses.

The House speaker said he doesn’t believe passing an incentives package before now would have made a difference in the outcome of the Volvo plant’s location. To lure Volvo, South Carolina state and local governments have offered more than $200 million, including the state borrowing money for the site.

For a $500 million plant, Moore said, “that math just doesn’t add up in my book, and I don’t think under any scenario we would be in a position to do that.”

To be clear, Moore certainly has not given the impression that he opposes corporate welfare per se, but rather the Volvo deal specifically was too rich for his liking.