New Laws Take Effect in 2015 to Lower Taxes, Boost Economy, Support Veterans | Eastern North Carolina Now

News Release:

"As we look forward to another year of progress for North Carolina's economy and quality of life, we also reflect on the accomplishments of a successful 2014." - Governor McCrory

    Raleigh, NC     As the state prepares for the start of a new year, new laws are slated to take effect in North Carolina on January 1, 2015. Governor Pat McCrory highlighted accomplishments from this past year as well as informed citizens of some of the imminent laws.

    "As we look forward to another year of progress for North Carolina's economy and quality of life, we also reflect on the accomplishments of a successful 2014," said Governor McCrory. "Throughout the past year, we have announced more than 13,500 jobs throughout our state, in addition to the thousands of other jobs that have been created to help our state recover all those lost in the and reach our lowest unemployment rate in over half a decade."

    Key job announcements from 2014 included Vertex Rail creating 1,300 jobs in Wilmington, Sealed Air Corporation creating 1,262 jobs and investing $58 million in Charlotte; HCL Technologies creating 1,237 jobs and investing $9 million in Cary; United Furniture creating 200 jobs and investing $5.2 million in Winston-Salem; DPx Holdings creating 488 jobs and investing $159 million in Greenville; Richelieu Legwear creating 205 jobs and investing $16 million in Hildebran; and GKN Driveline creating 333 jobs and investing $132 million in Catawba, Lee and Alamance counties.

    Among the new laws taking effect on January 1: the Omnibus Tax Law Changes which will further reduce tax rates for individuals, families and businesses as a part of tax reform; certain provisions of the Energy Modernization Act, which regulates North Carolina's safe and needed entry into the energy business; the Credit for Military Training Act, which grants college credits uniformly to students with military training; the Fiscal Integrity/Pension Spiking Prevention Act, which increases protections for workers and retirees and further ensure the solvency and sustainability of our state's retirement system; and portions of the Regulatory Reform Act of 2014, which modernizes and simplifies cumbersome or outdated regulations.

    "With help from the General Assembly, North Carolina has put in place major reforms and initiatives aimed at improving our economy, education, quality of life and support for veterans over the past two years," continued Governor McCrory. "I look forward to continuing to work with the General Assembly in the upcoming session to further our success and this Carolina Comeback."

    For a full list of laws going into effect on January 1, 2015, click here.


    Contact: Crystal Feldman
       govpress@nc.gov