Michael F. Easley
Governor
State of North Carolina
Office of the Governor
Contact: Renee Hoffman
Phone:
919/733-5612
GOV. EASLEY TO FAST TRACK CAPITAL IMPROVEMENT PROJECTS TO STIMULATE
STATE ECONOMY
RALEIGH - Gov. Mike Easley announced today that he is fast-tracking more than $700 million in
capital improvement projects to keep North Carolina’s economy moving as the national economy
continues to struggle. The governor will put several priority education and public safety projects on the
Council of State’s agenda for approval which will create new jobs and help stimulate the state
economy.
Easley has also instructed Commerce Secretary Jim Fain to be even more aggressive than usual on job
recruitment, since in a tough national and global economy, the state can use its incentive programs to
create future jobs. The governor expects to make several new job announcements soon.
“North Carolina is holding her own in job creation but we are not immune from national economic
trends, which means we have to take aggressive steps to minimize any hardships,” said Easley. “When
the new president and Congress pass an economic stimulus package early next year, I want to make
sure North Carolina is immediately ready to take advantage of it.”
Easley also noted that going to the market with these projects now is cost effective since interest rates
and building costs are lower. Economists estimate that for each dollar spent on a construction project,
$2.28 is pumped into the state’s economy, and that every $1 million spent on a project results in 36
new jobs, meaning these projects will produce nearly 26,000 new jobs.
“President-elect Obama and Congress will pass a new economic stimulus package early next year, and
moving these projects forward will give us a two month head start on that effort,” said Easley.
While the state has suffered some job losses because of the decline in the national economy, the
number of people employed in North Carolina has actually increased three of the past four months,
according to the N.C. Employment Security Commission.
The governor is putting the following projects on the Council of State’s January 6, 2009 agenda for
approval. These projects will provide necessary classroom and laboratory space for university
students, and ensure there is sufficient prison space to house criminals. The projects total
$722,035,444 and are listed by agenda, facility and amount.
• Dept, of Correction - Women’s Health and Mental Health Facility - $45,170,500
• Dept, of Correction - Minimum Security Addition - Scotland - $1 3,0 10,000
• Dept, of Correction - Medium Security Addition - Bertie - $ 1 8,950,000
Governor's Press Office
State Capitol, Raleigh, NC 27603-8001
(919) 733-5612 - Toll Free 1-800-662-7005
FAX (919) 733-5166
For Release: IMMEDIATE
Date: November 26, 2008
