Policies and Initiatives

Accomplishments

Since 2012, North Carolina has accomplished the following milestones…

Economic:

  • 263,000 new jobs created
  • Job growth rate is 10th highest in the country
  • Per capita income growth 15% larger than the rest of the country
  • 34% reduction in our unemployment rate, from the 8.7% rate we inherited, to the 5.6% rate we have today.
  • Maintained state’s AAA bond rating while paying off over $1 Billion of the state’s bond obligation debt
  • Cut the income tax rate so you keep more money in every paycheck
  • Cut the corporate tax rate so businesses want to invest more in North Carolina
  • Cut and capped the fuel tax so you pay less at the pump
  • Eliminated the state inheritance tax, so you can pass along your family farm or small business to the next generation
  • Paid off North Carolina’s Unemployment Trust Fund debt (that we inherited) and replaced it with a $1 Billion surplus
  • Setting aside $1 Billion in a rainy day fund for the state
  • Fixed Medicaid overspending and went from $2 billion in cost overruns to $130 million cash surplus
  • Because of these and other pro-growth economic policies:
  • Went from being ranked 44th to 16th best state for business tax climate
  • Site Selection Magazines #1 Most Competitive State
  • Forbes Magazine’s #2 state for Business and Career Climate
  • Chief Executive Magazine’s #3 for Business
  • CNBC’s 5th Best State for Business
  • Ernst and Young’s 3rd Lowest State and Local Tax Burden on Business

Education:

  • Lifted the pay freeze on teachers enacted by the previous administration
  • Raised starting teacher pay from $30,000/annually to $35,000 annually.
  • Gave one of the largest teacher pay raises in state history, averaging 7% per teacher
  • North Carolina is 7th in the nation for state level funding of education, spending 11% more on education than the national average
  • Allocated $30 million over the next two years to Community College Presidents to be used on giving community college instructors their first pay raise in years
  • Repealed Common Core
  • Decreased the cost of a 4 year bachelor’s degree by nearly 40% through an articulation agreement that guarantees certain community college credits will transfer into the UNC system.
  • Created the virtual charter school pilot program (first in state history) to allow more student/parent access to choice in public school education
  • Launched exponential growth of public charter schools thereby giving parents more choice options in public education
  • Currently wiring every classroom with high speed internet. North Carolina has a plan to wire every classroom with high speed broadband, enabling every child to use one-to-one electronic devices.