North Carolina Revenues Up, Economy Continues to Grow

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North Carolina Revenues Up, Economy Continues to Grow

Published: Sunday, July 24th, 2016 @ 8:50 am
By: McCrory Communications ( More Entries )

Press Release:

Raleigh, N.C. - "North Carolina's economy is firing on all cylinders," said Governor McCrory. "North Carolina is home to one of the fastest growing economies in the nation, revenues are up above projections, unemployment is at an 8-year-low and more than 275,000 private sector jobs have been added since 2013."

North Carolina's AAA Bond Rating Affirmed by All 3 Credit Rating Agencies:

"North Carolina is keeping its AAA bond rating for the first parts of a $2 billion bond package approved by voters in March." Colin Campbell, "McCrory touts AAA rating for first bonds from March referendum," Raleigh News & Observer, 7/14/2016)
"...the bond agencies didn't mention an impact from HB2 on their decision" Colin Campbell, "McCrory touts AAA rating for first bonds from March referendum," Raleigh News & Observer, 7/14/2016

North Carolina Revenue Up, Budget Surplus Increases To $425 Million:

"North Carolina revenue surplus upgraded to $425M," The Associated Press, 7/12/2016
In contrast, Virginia announced a $266 budget shortfall which will likely put promised teacher raises on hold: "State revenue collections came in $266 million short, based on preliminary numbers from the recently ended last fiscal year, delaying and endangering planned raises for state employees and local teachers..." Travis Fain, "State misses budget; employee, teacher raises delayed, in danger," The Daily Press, 7/8/2016)

North Carolina Jumps Up 4 Spots In CNBC's Annual Ranking Of The Best States For Business:

"Top States for Business 2016," CNBC, 6/12/2016)
"North Carolina's best category ranking is access to capital - the second best in the nation." "Top States for Business 2016," CNBC, 6/12/2016)
North Carolina Moved Up 3 Spots In CNBC's Quality Of Life Category "Top States for Business 2016," CNBC, 6/12/2016)

North Carolina Has Added 25,000 Jobs Since May 2016:

"Local Area Unemployment Statistics," Labor & Economic Analysis, N.C. Department of Commerce, accessed 7/12/2016

McCrory Signs Budget To Deliver Teacher Pay Raises, Affordable College Tuition And $132 Million In Middle-Class Tax Cuts:

"McCrory signs NC budget, which includes increase to teacher pay," WSOCTV, 7/14/2016
"While at Shiloh Elementary School, McCrory signed the state budget, which increased average teacher pay to more than $50,000. McCrory said that since 2013, teacher pay has increased faster in North Carolina than any other state." "McCrory signs NC budget, which includes increase to teacher pay," WSOCTV, 7/14/2016
Sanford Herald: "State budget addresses educational needs" Editorial: "State budget addresses educational needs," Sanford Herald, 6/29/2016
"The budget lowers tuition at three state schools to $500 a semester: University of North Carolina at Pembroke, Elizabeth City State University and Western Carolina University." "McCrory signs NC budget, which includes increase to teacher pay," WSOCTV, 7/14/2016

North Carolina's Unemployment Rate Reaches 8-Year Low:

"Local Area Unemployment Statistics," Labor & Economic Analysis, N.C. Department of Commerce, accessed 7/12/2016

Job Growth Continues As Cities, Towns Report Increased Business:

"Charlotte's Jobless Rate Continues To Drop As Businesses Keep Hiring" Katherine Peralta, "Charlotte's jobless rate continues to drop as businesses keep hiring," The Charlotte Observer, 6/30/2016
Charlotte Hotel Business Continues To Rise: "[Hotel] occupancies were up 5.6% in May from a year earlier to 76.7%-- well above the national average of 67%, which dipped 0.5%." Jenna Martin, "Are Charlotte-area hotels feeling pinch from HB 2 in latest occupancy figures?" Charlotte Business Journal, 6/22/2016
Asheville Continues To Attract Tourists, Visitors: "In April, room demand was up 5.8 percent over last year, and in in May, room sales were up 1.9 percent over last year, according to the Convention and Visitors Bureau." Emily Patrick, "Three months in, businesses report impacts of HB2," Asheville Citizen-Times, 7/11/2016
"Walmart Open $100M Distribution Center In Mebane, Overdelivers on Job Count"
"Fla. Energy Company Chooses Rockingham County for $450 Million Facility" Richard Craver, "Fla. energy company chooses Rockingham County for $450 million facility," The Winston-Salem Journal, 7/7/2016
"North Carolina Welcomes Largest Ever Containership To Port Of Wilmington"
"SWELECT Energy Systems To Bring 155 Jobs To Halifax County"
"Governor McCrory Announces Arrival of Dynamic Air Engineering Corporate Headquarters"

North Carolina Continues To Have One Of The Fastest-Growing Economies In The Nation: