FACTSHEET: Encouraging Job Creation | Eastern NC Now

This budget provides $99 million and $107 million respectively in each year of the biennium to support commitments made under NC Competes, programs focused on the recruitment and retention of quality jobs and large-scale capital investment.

ENCNow
Press Release:

We have no higher priority than promoting job creation.


  • This budget provides $99 million and $107 million respectively in each year of the biennium to support commitments made under NC Competes, programs focused on the recruitment and retention of quality jobs and large-scale capital investment.
  • Recommends $5 million for the One North Carolina Small Business Program to provide early-stage funding for small, high-growth and high-tech businesses across the state.
  • Appropriates $10 million in each year of the biennium to encourage the production of long-term, sustainable film projects and to further develop the film-making industry within the state.
  • Restores and reforms the Historic Preservation Tax Credit to continue to revitalize main streets across North Carolina while ensuring that the credits are used wisely and where they can have the most impact.
  • Projects annual savings of more than five percent resulting from last year's creation of the privatized Economic Development Corporation (EDC).
  • Leverages our university research advantage to attract venture capital and a new generation of entrepreneurs, as well as help retain North Carolina's home-grown talent through the Innovation to Jobs initiative:
    • Invests $15 million in each year of the biennium in the Venture Multiplier Fund, to be invested alongside private sector dollars in early stage commercial ventures.
    • Provides $2.5 million in recurring appropriations for the Rallying Investors and Skilled Entrepreneurs for NC (NC RISE) program to develop and leverage existing entrepreneurial management talent and recruit world-class investors and skilled entrepreneurs to the state.
    • Establishes the University Innovation Commercialization Investment program, funded at $7.5 million over the biennium. The initiative will use our community of industry and commercialization experts, organized and funded through nongovernmental entities to select university technologies based on commercial potential and create a development plan to make technologies more attractive to investors.

  • Contact: Crystal Feldman
  •     govpress@nc.gov

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