After passing in the General Assembly with bipartisan support, Governor McCrory signed Senate Bill 20 yesterday to ensure North Carolina’s immediate transportation needs are adequately funded. This is the first JOBS Agenda bill passed into law in 2015.
Investing in infrastructure provides a 10 to 1 return on investment for short- and long-term economic activity. This legislation not only protects transportation projects critical to the safety of our network, but it will also help generate jobs, additional wages and economic growth. It puts steps in place to stabilize immediate transportation funding fluctuation – avoiding a potential $690 million hit to the statewide transportation network.
Now that we have made this first and critical step, North Carolina needs greater confidence in an efficient process, and ultimately diverse and stable revenue sources to meet the state’s long-term transportation infrastructure demands. The NC Chamber continues to push for comprehensive, long-term solutions to meet the increasing transportation and infrastructure needs of the state, as well as resolving current funding challenges.
We applaud the strong leadership of the Governor, House and Senate in addressing this urgent issue – one that impacts the safety and quality of life of all North Carolinians.
Gary J. Salamido
Vice President, Government Affairs
North Carolina Chamber