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States Show Their Claws

Companies face pressure to return economic-development incentives, but there is always room to negotiate.

May 1, 2011

In 2009, CFO Mark Poncin found himself in a situation many CFOs now face. Three years earlier, his company, boat-builder Chris-Craft Corp., struck a deal with North Carolina. If Chris-Craft created a certain number of jobs over the course of the year, the state would grant it more than $50,000. If the company reached its job target for each of 4 years, it would receive escalating annual payments for the length of a 10-year contract (which required that it stay in the state for that period). Read more...

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