Governor Pushes Connect NC

CHARLOTTE, N.C. -- Governor Pat McCrory visited Stone Mountain State Park and UNC Charlotte recently to discuss the Connect NC bond referendum he signed into law, which if approved by voters in March, will invest $2 billion in education, parks, National Guard facilities and water and sewer infrastructure.

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“Today, we are enjoying and benefiting from the investments made by our parents and grandparents,” said Governor McCrory. “New university and community college facilities and improved state parks are long-term investments that will support our growth and make North Carolina more attractive to businesses and residents.”

It’s been 15 years since the last bond investments were authorized to upgrade North Carolina's infrastructure. In that time, North Carolina has grown by 2 million people in population and the U.S. Census Bureau projects the state will continue to experience healthy population growth for the foreseeable future.

If approved by North Carolina voters, the Connect NC bond will allow the state to pay for buildings and other assets with a service life of 50-years or more with long-term financing. No tax increases are necessary to finance the bond, given North Carolina's strong revenue growth and ample debt service capacity.

North Carolina is one of only 10 states with AAA credit rating from all three major ratings agencies. This top credit rating saves taxpayers millions of dollars and Connect NC will not do anything to jeopardize the AAA credit rating. Because North Carolina is paying off its existing debt rapidly, the state’s overall debt levels will not increase with this new bond.

The bond package includes projects from the mountains to the coast in both small farming towns and large cities.