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Senate Budget Prioritizes job Growth, Economy

Posted by on 05-20-10

May 20th, 2010

Creating Jobs, growing the economy

Supporting Small Businesses

  • Tax cut for incomes taxes for 275,000 to 300,000 small businesses in North Carolina. This will provide relief for roughly half of all businesses that pay their taxes via the personal income tax.
  • Loans to help small businesses keep their doors open ($1 million more to Small Business Assistance Fund through the NC Rural Economic Development Center, which will allow businesses with 100 or fewer employees loans to them stay open and preserve jobs).
  • Provides $1.5 million for the One NC Small Business Fund to help small businesses leverage federal entrepreneur grants.
  • Set aside a portion of the One NC Fund, which is used to help employers locate or expand in NC, to be used to help small businesses grow.
  • Restores funds for Small Business Centers at the state's 58 Community Colleges. The Centers support the development of new businesses and the growth of existing businesses by being a community-based provider of training, counseling, and resource information ($402K for a total of $5.7M).
  • Builds "In-source NC" database to help NC companies find and use other NC companies for supplies and services ($150K).
  • Provides $3.1 million for the "Home Grown Jobs" initiative through the Rural Center's Buildling Reuse and Restoration program to help bring businesses to small towns.
  • Provides $750,000 for loans for minority small businesses with limited access to credit.

Promoting innovation, and renewable energy

  • Seed funding to get innovations from the lab to the marketplace ($12M).
  • Provides money to draw down federal grants in renewable energy research ($1.5M).
  • Funds research efforts on tidal wave and wind energy on NC's coast ($2M).

Recruiting new employers and expanding business

  • Protects business development and job recruitment funds that have helped create and protect thousands of jobs ($15M for One NC Fund, $5.5 for JMAC).
  • Funds economic commissions that promote the state's seven regions and attract new businesses and employers ($5M).
  • Provides $875,000 to promote and market North Carolina as a business destination.

 

Promoting Efficient and Ethical Government

  • Cracks down on Medicaid waste, fraud and abuse
    • Provides $500,000 for new fraud detection measures, and additional Attorney General investigators.
    • Reforms Personal Care Services to fund only medically necessary services ($59M cut)
  • Takes steps to rein in inmate medical costs ($20M cut).
  • Eliminates 400 positions across state government.
  • Saves $3.1 million by selling state aircraft (20 Forest Service planes).
  • Freezes state motor vehicle purchases and require future purchases to be fuel efficient.
  • Provides $610,000 for new technology and more investigators for the State Board of Elections.
  • Provides $547,000 for additional staff for the Ethics Commission to advise public officials.