BTC REPORTS: Connect NC to Jobs - Infrastructure Investments Can Build an Economy That Works for All

By Patrick McHugh
Economic Analyst, Budget & Tax Center
February 2016

Voters in the North Carolina primary will have the chance to approve prudent state borrowing that can boost our economy in the short run and make the state more competitive for the long haul.

The Connect NC Bond Act, which will appear on the primary ballot, is an initiative to issue $2 billion in new debt to finance public infrastructure across the state.

It would support thousands of jobs over the next few years as projects are completed, with hundreds of millions of dollars paid out in wages—earnings that could help boost local economies as working men and women purchase basic goods at community businesses. Long-term, these investments can make our economy function more efficiently, create new market opportunities, accelerate innovation, and make North Carolina a better place to live and raise a family.

The Bond Act comes at a time of need. Years of budget cutbacks have left a backlog of repair and renovation work across much of the state’s building and transportation stock. At the same time, our state’s swelling population is ratcheting up the pressure to expand education, transportation, public safety, and infrastructure that improves our very quality of life.

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