News & Record of Greensboro

It was all bold headlines in May: "Gov. Easley announces 1,000 jobs at Global TransPark."

Two months later, the fine print says Spirit AeroSystems could employ far fewer workers and still earn millions in state incentives.

The deal for the Kansas-based aircraft manufacturer to build an assembly plant near Kinston is still welcome. It's just more complicated and contains more loopholes than the public was led to believe.

All the more reason to introduce greater openness to the business-recruitment process. Although it might be necessary to negotiate behind closed doors, details about promised public funds should be revealed before agreements are signed, and the public should have a chance to comment.

State officials understandably were eager to land a big company at the GTP, created and maintained for years at state expense without generating much activity. Eastern North Carolina's economy has lagged behind other parts of the state, thanks in large part to the decline of tobacco and other traditional industries.

Then, early last year, the state saw a chance to change the park's fortunes, although at a substantial price.

"The state package would have to be enormous," an economic development consultant informed Commerce Secretary Jim Fain. "But here is that one huge possible opportunity that NC has been awaiting."

As it turned out, the enormous package could reach $180 million, including a major contribution from the Golden Leaf Foundation's fund of tobacco-settlement money. Considering the touted gain by 2014 of 1,031 jobs paying an average annual wage of $48,000 and an investment by Spirit of $570 million, the agreement wasn't out of line with deals made with Dell in Forsyth County and Google in Caldwell County.

But only if it delivers as advertised. Records released recently in response to media requests showed that Spirit can receive most of the tax breaks and other benefits offered by the state even if it creates only 500 jobs by 2014. The concession is disappointing and might have been hard to sell to the public if it had been disclosed in advance.

Maybe there's nothing to worry about. David Kyger, a lawyer who helped negotiate the agreement on behalf of the Golden Leaf Foundation, expressed optimism about the potential for the project. Spirit, which will assemble large fuselage components for Airbus, might "wildly exceed the targets in place here," Kyger told The News & Observer of Raleigh.

If hope turns to reality, more bold headlines will be warranted. But it's not fair to put the disclaimers in fine print.

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