North Carolina county and municipal governments continue to be cautious when it comes to launching capital improvement building projects. Local government borrowing this year is $28.4 billion, about the same as a year ago, and down by 0.7 percent from January, according to the North Carolina Treasurer’s Office. Cities and counties generally issue bonds to pay for such infrastructure as new school buildings, libraries and roads. The borrowing figure drops when the governments let current bond packages mature without issuing new ones. Local government borrowing, and building, would seem to help the struggling construction industry, but it hasn’t happened yet to a significant degree. Wake County voters did approve the issuance of $200 million in bonds to support projects at Wake Technical Community College.
by Lee Weisbecker
(TRIANGLE BUSINESS JOURNAL)
11/13/12
