Hundreds Of Local Leaders Gather In Support Of Governor McCrory's Connect NC Bond Proposal | Eastern North Carolina Now

    Raleigh, N.C.     Hundreds of local leaders from across the state assembled in Raleigh on Tuesday to indicate support for Governor Pat McCrory's proposed Connect NC bond initiative. Local municipalities have expressed widespread approval for bond investments by passing official resolutions in support of placing the proposal on the ballot in November.

    "Over the past month, we have traveled the entire state of North Carolina and have seen first-hand the significant need for investment," Governor McCrory said. "I commend local leaders for recognizing the critical importance of these strategic investments in our state's future growth and prosperity. I encourage lawmakers to act on their call to let the voters decide on Connect NC."


    The timing of the event underscores the urgency to act now. With interest rates at historic lows, it has never been less expensive to borrow. Forecasts expect the Federal Reserve to begin raising rates in the second half of 2015.

    "If we delay, each 0.25 percent increase in interest rates will cost the state an additional $7.5 million in the first year alone," Governor McCrory emphasized. "We must act now to leverage the best deal for North Carolina taxpayers, students and our military."

    Connect NC is targeted investments in North Carolina's roads, education, public health, parks and military. From small farming towns to large cities, Connect NC projects will benefit every community across the state while creating thousands of jobs along the way.

    The transportation proposal would pay for 27 permit-ready highway projects throughout North Carolina that have completed environmental documents. In addition, Connect NC would fund the paving of 176 unpaved secondary roads totaling 113 miles.

    Because of the state's fiscal strength and strong balance sheet, no tax increase is needed to fund the bonds and the state's AAA bond rating would be preserved.

    To learn more about Connect NC, visit http://connect.nc.gov.

• Contact: Crystal Feldman
•     govpress@nc.gov