News from the South - North Carolina News Feed
Three-quarters of $1B headed to North Carolina manufacturer | North Carolina
SUMMARY: Silicon carbide power solutions company Wolfspeed, based in North Carolina, has a tentative agreement to receive $750 million from the Biden administration. This funding aims to establish a silicon carbide wafer manufacturing plant in Siler City, bolstering the domestic semiconductor supply crucial for the future energy economy and AI advancements. Despite reporting a 71% drop in shares and ongoing losses, Wolfspeed remains a market leader facing competition from China. The investment, part of the CHIPS and Science Act, is expected to create over 2,000 manufacturing and 3,000 construction jobs, enhancing U.S. semiconductor research and production capabilities.
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News from the South - North Carolina News Feed
Governor Cooper commutes 15 death sentences following years of advocacy • NC Newsline
SUMMARY: On New Year’s Eve, Governor Roy Cooper commuted the sentences of 15 death row inmates in North Carolina to life without the possibility of parole. This decision follows a two-year clemency campaign and reflects ongoing challenges to the state’s death penalty. While the full commutation of all death sentences was not granted, the number of pending death sentences decreased from 136 to 121. Cooper’s actions are part of a broader national trend towards clemency for death row inmates. Advocates emphasized the importance of addressing racial bias in death penalty cases, with most of those commuted being people of color.
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News from the South - North Carolina News Feed
Dynasty: Charlotte, Panthers infamously deliver North Carolina’s 3rd award | North Carolina
SUMMARY: The Center for Economic Accountability has named a $650 million public funding deal for a stadium renovation in North Carolina as the Worst Economic Development Deal of the Year. The Charlotte City Council agreed to fund this $1.3 billion project for the NFL’s Carolina Panthers, owned by billionaire David Tepper. Critics argue the deal lacks transparency, offers poor returns, and has questionable economic justifications. Public sentiment was overwhelmingly against the deal, with critics expressing concern over the prioritization of stadium funding over essential city services. Tepper’s checkered history with similar projects raises further doubts about the long-term benefits for taxpayers.
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News from the South - North Carolina News Feed
Income taxes go down amid new year, new North Carolina laws | North Carolina
SUMMARY: North Carolina’s personal income tax is set to decrease by a quarter-percentage point to 4.25% as part of new legislation effective January 1, 2025. This move, favored by the Republican-majority General Assembly, was opposed by outgoing Democratic Governor Roy Cooper, who allowed the bill to become law without signing it. Additionally, the 2023 Appropriations Act, which includes Medicaid expansion, was also passed. New laws effective include a $252 million Hurricane Helene relief bill, updates to juvenile delinquency laws, and a requirement for ticket platforms like Ticketmaster to transparently display total prices upfront.
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