Last week, the North Carolina House and Senate introduced a pair of important companion bills (HB 1090/SB 826: Prosperity & Econ. Opportunity for All NC Act) aimed at broadening access to economic growth opportunities for all communities – both urban and rural – throughout North Carolina. The North Carolina Chamber recognizes the strength of the measures included in this new bill and we are encouraging elected leaders to act quickly to secure its passage.
A recent report conducted by the North Carolina Chamber Foundation (Spreading Economic Opportunity Across North Carolina) identified a need for North Carolina to prioritize stronger links between rural communities and economic hubs, increased capital formation, regional strategic action plans, and alignment among local community leaders on shared economic development goals in order to harness the state’s full growth potential. The Prosperity & Economic Opportunity for All NC Act would go a long way toward helping North Carolina achieve many of those priorities. Among numerous measures, key provisions in the bill would stimulate new local investments in innovative ventures by enabling new types of crowdfunding models for North Carolina’s small businesses and startups, and repeal an onerous production tax – the 1%/$80 Mill Machinery Privilege tax.
In addition to encouraging its passage, the NC Chamber is actively seeking out forward-thinking leaders in the business community to join a coalition in support of this new legislation. As you know, in recent sessions the NC Chamber and the unified business community have worked with state leaders to make important pro-growth steps for our state. However, job creators are increasingly coming to the realization that a state with an economy as large and diverse as North Carolina’s cannot be satisfied with only a few places producing outstanding results while others stagnate or decline. To lend your support to our coalition, contact Jake Cashion at email@example.com or 919-836-1411.
The NC Chamber believes that with a new generation of leaders setting the pace for North Carolina’s growth future, the time for positive action is now. As the Chamber and Chamber Foundation keep working to grow good jobs for all North Carolinians, we will continue to update you on the Prosperity & Economic Opportunity for All NC Act and the business community’s efforts to secure this important bill.
Gary J. Salamido
Vice President, Government Affairs
North Carolina Chamber