In another encouraging sign for North Carolina’s economy, Governor Pat McCrory announced that for the third time this year, the State Budget Office has revised revenue figures upward above May projections by $95 million. The state is projecting a final revenue surplus of $425 million, mainly driven by more people working and earning more money.
“North Carolina has posted record revenue surpluses driven by strong economic growth, job creation and responsible financial management,” said Governor McCrory. “At a time when neighboring states are revealing steep revenue deficits, North Carolina’s economy is firing on all cylinders.”
The state’s strong economy continues to receive national recognition. North Carolina improved to the No. 5 Top State for Business by CNBC, up from No. 9 last year. Access to capital, workforce quality, and technology and innovation contributed to improving this year’s ranking.
Under Governor McCrory, North Carolina has one of the fastest growing economies in the nation. Since 2013, unemployment is down in all 100 counties and the private sector has added more than 275,000 jobs.