Governor McCrory Applauds $330 Million Projected Revenue Surplus | Eastern North Carolina Now

    News Release:

Revenue projections increased by $93 million since previous forecast in March

    Raleigh, N.C.     Governor Pat McCrory applauded positive news that revealed revenues for the current year are projected to finish $330 million above initial budget projections. The latest revenue forecast also boosts projections for FY 2016-17 by $231 million above the certified budget.

    "In an environment of historic tax reform saving hardworking North Carolina families $4.4 billion, year-over-year revenues continue to grow," said Governor McCrory. "This confirms that tax reform, coupled with pro-growth economic policies and responsible budgeting have positioned our state as a leader in economic opportunity and competitiveness allowing us to fund priorities most important to North Carolinians."

Consensus Revenue Forecast

    Under Governor McCrory's leadership, North Carolina has the fastest growing economy in the nation and has added more than 280,000 jobs. Additionally, North Carolina is one of only nine states in the country to possess a pristine AAA bond rating from all three major ratings agencies.

    The revised consensus forecast will form the revenue basis for the General Assembly's FY2016-17 budget adjustments.

    Contact: Crystal Feldman
       govpress@nc.gov