Greater Raleigh Chamber Blog

The Raleigh Chamber is calling for the reintroduction of immediate federal tax deductions of Research & Development (R&D) costs which were the norm for over seventy years until January 2022 when the tax code required them to be amortized. While this change impacts all companies that engage in research and development, it most drastically impacts startups and small businesses who rely on those immediate deductions for their financial models to work.​

In collaboration with several other metropolitan chambers across the state, we are encouraging our federal delegation to revert the R&D tax rules. Conversations are positive and it looks like these changes will happen soon, but with so much on the line for so many regional companies, there’s no time to waste.

The council is moving forward with plans to change how many elected officials represent Raleigh, how often they must run, and several other changes to how we elect our city leaders.
 
Details are yet to be decided, but there seems to be consensus to adopt four-year terms (from the current two-year terms), with potentially the mayor remaining on two-year terms to increase citizens’ ability to hold them accountable. Should four-year terms go into effect, candidates would run in staggered terms, eliminating the possibility of a whole council turnover in a single election.
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There also seems to be agreement that more seats need to be added to the council table due to the city’s explosive growth over the past decades, but there does not seem to be agreement on how many new seats would be added (anywhere from one to four were brought up), whether they would run in districts to represent specific parts of the city, or whether they would be at-large to represent the city as a whole. Yet to be discussed in depth are whether council members should receive more compensation for their time in their position, and how much that increase would be.

The council will go through all of this in much more detail at future work sessions, but whatever changes they agree on will go on the November 2024 ballot for citizens to approve or reject, with the goal of the changes going into effect for the 2026 election cycle. ​
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To learn more about our GA priorities you can visit our webpage.

Monday, January 15 is the 116th Founders Day celebration of the Alpha Kappa Alpha Sorority, Incorporated, and Torri Staton, Ph.D., who serves as the Vice President of Diversity, Equity, and Inclusivity for the Raleigh Chamber, and the Director of Equitable Economic Development for Wake County Economic Development, is proud to be a member of the Sorority. Torri has been associated with the Raleigh Chamber for almost two years and has previously worked in the education sector for more than a decade. Torri initiated her DEI work in her previous roles and is thrilled to continue advocating for DEI policies in the business community.

​According to Torri, working at the Triangle DEI Alliance (a program of the Raleigh Chamber) is enjoyable because it allows her to witness the positive impact of the DEI advocacy work accomplished by the Chamber and connect with members of the community. Torri also uses the power of the Chamber to shift the way the business community thinks and approaches DEI work and is happy that she gets to help more diverse businesses utilize the Chamber’s resources.
​While you can usually find Torri talking to community members and investors about new ways to implement DEI policies in their workplaces and across the Triangle, Torri also values planning events with her team. Torri works with DEI Coordinator Serenia Parsons to plan programs such as We Connect and Courageous Conversation, one of Torri’s favorite programs to host and attend. Torri admires the Courageous Conversation series because it offers an excellent platform to raise awareness about significant community issues and engage in meaningful discussions.
​Torri often uses the events planning skills she learned in her sorority to plan DEI events. As an Alpha Kappa Alpha woman, Torri has learned the importance of making connections and loves seeing her sorority members who often attend the Chamber’s DEI events. Torri is excited about her work moving forward, especially progress centered around the A Better Wake Blueprint to Dismantle Systemic Racism. If you want to learn more about this Blueprint and how it is pushing important conversations in the business community, check it out here.  

​For those unable to attend Launch 2024 presented by Wells Fargo, we have you covered! Launch 2024 is an annual economic forecast that allows Triangle area professionals to reconnect with colleagues and refresh their business focus with the latest trends and data. This year’s event is scheduled for January 3 at the Martin Marietta Center for the Performing Arts, and it will feature two renowned economists, Tom Barkin, President and Chief Executive Officer of the Federal Reserve Bank of Richmond, and Sarah House, Managing Director and Senior Economist for Wells Fargo Corporate & Investment Banking.

The experts will present their research and data on economic trends and forecast what to expect in 2024 for Raleigh and beyond. They will also share their insights on the economic trends and make key predictions for the New Year. If you have any questions for the speakers, email them at [email protected]. Please submit your questions before the event so the speakers can address them during their presentations.

For those unable to attend the event’s program from 8 to 10 a.m., you can watch the livestream from our media sponsor, WRAL-TV Channel 5, and follow the conversation on social media using the hashtag #RCLaunch2024. 

​Additionally, we are pleased to announce that Sarah House's presentation and Wake County Economic Development’s Economy & Business Publication will be available online!

​Stay tuned for Launch 2024, presented by Wells Fargo, and get ready to learn about the economic outlook for 2024!