NC Voters Overwhelmingly Approve $2 Billion Bonds for Construction

16 Mar, 2016, 13:25 ET from Carolinas Associated General Contractors

RALEIGH, N.C., March 16, 2016 /PRNewswire-USNewswire/ -- In great news for taxpayers and the construction industry, voters across North Carolina on Tuesday, March 15, in a two-thirds vote, approved borrowing $2 billion for infrastructure projects, mostly involving new buildings, repairs and renovations at the UNC system and community college campuses. The remaining one third of the bonds will be used for local government water and sewer projects, construction money for parks, the National Guard and the Department of Agriculture.

The bond approval follows hard work by Carolinas AGC (CAGC), led by CAGC's Betsy Bailey and CAGC Board of Directors member Scott Cutler of Clancy & Theys, in helping in a wide-ranging Connect NC campaign with business and community leaders to educate voters on the importance of the bond passage through a successful media campaign. Passage of the bond issue also is the result of strong leadership from N.C. Rep. Dean Arp, R-Union, Gov. Pat McCrory, the NC General Assembly, the UNC system and community colleges, and the State Innovation Committee led by architect Paul Boney of LS3P.  

The $2 billion bond approval comes on the heels of CAGC's efforts last year, led by Berry Jenkins of CAGC, to secure $1.2 billion in new transportation funding in North Carolina. CAGC's Leslie Hope continues to push for approval of transportation funding in South Carolina. On the federal level, AGC of America and ARTBA, helped lead recent efforts on the five-year, $305 billion highway bill approved by Congress.  

Tuesday's bond approval is good timing because of low interest rates and the overwhelming need for the construction improvements. For the construction industry, AGC estimates that each $1 billion spent on construction sustains or creates 28,500 jobs.

"Voters across North Carolina spoke loudly and clearly on March 15 in overwhelmingly approving the $2 billion in bonds, showing they understand how important infrastructure funding is to moving our fast-growing state forward," said Dave Simpson, President and CEO of CAGC. "Much credit is due to the vision of the NC General Assembly and Gov. Pat McCrory and the tireless work of the Connect NC bond supporters in a short time frame before the early primary this year."

Betsy Bailey, N.C. Government Relations and Building Director for CAGC, said: "Great news for the construction industry and for our state. Thank you Governor McCrory, Representative Dean Arp and many others for their tremendous efforts."

Carolinas AGC is the construction industry association in the Carolinas, bringing value to our thousands of members through networking, government relations, job leads, meetings with owners/designers, education and training involving such issues as safety and open shop, and community development. Visit us at www.cagc.org, connect with us on Twitter, Facebook, YouTube, and LinkedIn.

For more information contact CAGC's NC Government Relations & Building Director Betsy Bailey at bbailey@carolinasagc.org or (919) 781-3270 Ext. 5725.

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SOURCE Carolinas Associated General Contractors



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