The NC Governor Pat McCrory created a plan budget plan where the all the money will go invested to grow the state.
The budget commits nearly $4.8 billion to lay the foundation for our 25-year transportation vision, which focuses on connecting small towns and economic centers to simplify citizens’ commutes for work, school and recreation. This includes:
- An increase of $135 million for strategic investments in critical infrastructure.
- $51 million for road preservation and improvements.
- $36 million for capital repairs and renovations under the Capital Improvements plan.
- $10 million to ease congestion in rural and small urban areas.
Proposes targeted, long-term investment to update our state’s critical infrastructure through bond financing.
- They will request a transportation bond of $1.2 to $1.4 billion that will allow us to take advantage of historically low interest rates for quicker construction of projects in the 25-year vision plan.
- Projects funded through a revenue bond will be the next projects in line, scored under the Mobility Formula, with environmental documents in place to ensure projects can begin immediately.
- North Carolina has an established history of responsibly using long-term financing for critical infrastructure that supports the needs of a growing population and economy.
Begins to address the inefficiency of state buildings that are a blight to North Carolina’s main streets.
- Simply using the same amount of space per state employee as is standard in the private sector could save an estimated $180 million.
- We will submit a $1.2 to $1.4 billion general obligation bond proposal, which will revitalize buildings that can be saved, and build new, workable and efficient facilities for the National Guard, community colleges and other agencies that will help create economic development opportunities for their communities.
- This financing, achieved at historically low interest rates, will help improve safety and increase productivity, while saving taxpayer money.
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