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The Charlotte Observer on July 28 reported that Time Warner Cable was planning to create a campus of 1,100 employees in Charlotte. The story sai oval of the incenrive program and hat employees to Charlotte depended upon legislative app Time Warner could reap as much as $55 million in incentives over several years. The move would relocate TWC's Stamford (Connecticut) and Denver offices and create up to 1100 jobs to the Charlotte area o9 er time. To facilitate the move and to facilitate jobs, the NC State Senate Finance Committee may enter into contracts with selected companies to rebate as much as 75 percent of the state withholding taxes paid by the company's employees. The incentive program is limited to 15 companies per year with $10 million in initial grants per year, and with the grants continuing for up to 12 years.lo The "stimulus" grants are intended to persuade companies to locate or expand in North Carolina and create or preserve jobs that otherwise might be "lost." FCC1240 Regulated BST Rates An Analysis of the proposed Rate Adjustments Time Warner's FCC1240 rate adjustments reflect the following external cost elements: 1) External costs for True-up Period, 2) External costs for Projected Period, 3) Inflation from True-up Period, 4) Inflation for Projected Period, 5) Franchise related (PEG) expenses, and 6) FCC regulatory cost exclusion treatment. External Costs Time Warner's Form FCC1240 rate adjustments reflect multiple external cost elements. An external cost is an expense a cable operator incurs during the normal course of business and may be included in rate calculations. External cost categories are state and local taxes; franchise fees; costs of complying with franchise requirements, including costs of providing public, educational, and governmental access channels; retransmission consent fees and copyright fees incurred for the carriage of broadcast signals; other programming costs; FCC regulatory fees, and costs associated with channel additions. 9The Economic Stimulus and Job Creation Act, passed in the waning days of the 2002 short session, gives a five-person Economic Investment Committee, controlled by the governor, unprecedented discretionary power to offer selected companies cash grants. The program is called the Job Development Investment Grant Program. loCarolina Journal, Economic Stimulus Bill: NC's version of insider Trading?, November 2002, pl. Action Audits, LLC Cable Rate, Franchise Fee, Utili Tax Auditin & Telecommunication Administration 101 Pocono Lane, Cary, North Carolina 27513-5316 Voice # 919.467.5392 Fax # 919.460.6868