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How the deal could add up for Google
Google could get more than $100 million in tax breaks and other incentives if it agrees to build in Lenoir. Here are how the incentives break down:
NORTH CAROLINA
Sales tax exemption. The General Assembly last year approved a measure eliminating sales taxes on electricity and certain purchases for data centers like the one Google is contemplating.
The exemption could mean that the state would forgo $89 million in tax revenue over 30 years, based on estimates provided by the Commerce Department to the legislature's Fiscal Research Division. The state has not identified any business prospects other than Google that could benefit from the change.
Investment grant. A Commerce committee last month approved a Job Development Investment Grant potentially worth $4.7 million. The company would have to create 168 jobs and invest at least $480 million before 2011 to get the full benefit.
Tax credits. Google can apply for tax credits that, assuming it creates 210 jobs, could exceed $2.6 million.
LENOIR AND CALDWELL COUNTY
Officials in the city and county have agreed to waive 100 percent of Google's business property taxes and 80 percent of real-estate taxes for 30 years. They have not provided an estimate on the cost of that provision.
(The General Assembly Fiscal Research Division, With Figures From the N.C. Department of Commerce)
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