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Nothing Succeeds Like Success

Posted on July 14, 2017 by admin in Budget, Business, Economy

Success!North Carolina has received four national economic distinctions so far this month, including being hailed as the #1 state for starting a business, the #5 best state for business, the #5 best state for budget solvency, and one of only 12 states in the country with a unanimous ‘AAA’ bond rating.

Fit Small Business, a Madison Avenue research and consulting firm, released a study on July 3 calling North Carolina the #1 state for starting a business, citing “the state’s labor market and taxes as driving an ideal environment for business owners.”

CNBC ranked North Carolina as #5 in this year’s “America’s Top States for Business,” scoring 66 different measures of competitiveness and an array of input from business and policy experts, official government sources, the CNBC Global CFO Council and the states themselves.

The Mercatus Center at George Mason University, in ranking the states by fiscal condition, says that North Carolina is #5 for Budget Solvency. The rankings noted that North Carolina’s state revenues exceed budget expenses by 12 percent, and the fact that we’ve amassed substantial revenue surpluses and a $1.8 billion rainy day reserve fund. North Carolina ranked #15 overall for financial health.

North Carolina State Treasurer Dale R. Folwell announced last week that the nation’s three major bond rating agencies  – Fitch, Moody’s and S&P – have all reaffirmed the state’s “AAA” bond rating, making North Carolina one of only 12 states to obtain a unanimous top-tier evaluation. A Fitch’s rating agency financial memo credited North Carolina’s “conservative financial operations and long-term prospects for continued economic expansion, rebuilt rainy day fund, demonstrated controls over spending, and revenue growth all as strong factors in the state’s financial flexibility. “Recent economic growth in North Carolina has been accelerating and future growth is expected to be stronger,” the financial memo supporting the state’s ‘AAA’ bond rating said.

 

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The Economy Then and Now

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Index of Articles

  • 2019 Budget Passes First Vote in NC House
  • Tax collections could lead to $700 million windfall
  • NC House Members Urge Governor Cooper to Maintain Balance on State Supreme Court
  • House Enacts Voter ID With Veto Override
  • $793 Million for Florence Recovery
  • 3205
  • Legislature to Convene October 2 for Hurricane Relief
  • State Revenues Exceed Forecast by Over $400 million
  • Hurricane Relief Committee to Investigate Recovery Delays
  • Rep. Faircloth and the NC House Keeps their Promises
  • Life, Liberty and the pursuit of Happiness
  • Revenue estimates $252.8 million ahead of targets
  • Flag Day 2018
  • Legislature Overrides Budget Veto
  • Remembering the Day that Saved the World
  • Houses Passes School Safety Programs
  • Legislature Agrees to Adjustments for Current State Budget
  • Six statistics Carolinians should know
  • Employment Increases by more than 85,000
  • Safeguarding Emergency Equipment
  • LEO: No Need to Get Angry
  • The Pharmacy Patient Fair Practices Act
  • A Statue for North Carolina’s Favorite Son
  • A Good and Faithful Servant
  • Remembering Washington on President’s Day
  • A New Pipeline of Money to Public Schools
  • Get Outta My Dreams, Get Into My Car
  • Tax Fraud Prevention Saves State Revenue
  • NC in Top Tier for Economic Preparedness
  • The Electoral Freedom Act of 2017
  • North Carolina in Top 5 States for Wage Growth
  • Republicans Credited For Strong State Economy
  • Governor Cooper Declares State of Emergency
  • Throwback Thursday: The Education Lottery
  • Unemployment Continues to Drop
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