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Funding Reforms Place Vital Transportation Projects on Fast Track to Completion

As you know, fighting to secure long-term transportation funding reforms was the centerpiece of the NC Chamber’s JOBS Agenda in 2015. Those reforms freed up an additional $708 million in recurring transportation revenue to pave the way for 1.5 million new direct and indirect jobs and help protect the future of our entire transportation network. Last Thursday, pro-growth advocates in North Carolina got even more good news, as Governor McCrory announced that a number of vital transportation projects are being placed on the front burner thanks to those reforms.

In a press release, Governor McCrory stated: “The reforms I signed into law will get these roads built sooner. The primary purpose of the reforms was to ensure transportation funds were being spent on transportation projects and not diverted to other state programs. These budget reforms, coupled with our 25-Year Vision and the new transportation funding formula that emphasizes congestion relief, safety and job-creation will make North Carolina more competitive and prepared for future economic growth.”

While the NC Chamber has its own forward-thinking strategy to help grow our state economy in the coming decades, North Carolina Vision 2030, the announcement of the accelerated projects and the Governor’s emphasis on a long-term plan make it clear that North Carolina’s elected leaders and leaders in the business community share similar goals to continue creating new jobs and making our state a leading competitor in the global race for new business investment. We commend Governor McCrory and members of the General Assembly for their courage in making 2015 yet another landmark year for growing jobs in North Carolina.

Visit the link above to view the specific projects impacted by this new announcement, and click here to view the entire list of projects that have been proposed under the Strategic Transportation Investments formula. The Board of Transportation is expected to give final approval to the list of accelerated projects in January 2016. The NC Chamber will continue to update you on this vital issue impacting our state’s – and your company’s – future growth.

Gary J. Salamido
Vice President, Government Affairs
North Carolina Chamber