North Carolina Gov. Pat McCrory discussed how educational investments would fuel economic growth during a Monday panel discussion at East Carolina University (ECU).
The panel discussion was held ahead of a referendum on a proposed Connect NC bond that would provide a total of $1.3 billion to the University of North Carolina System and to the state’s 58 community colleges.
If approved, ECU would receive $90 million for a new life sciences and biotechnology building. The facility would house a pharmaceutical development and manufacturing center, classrooms, and research and lab space for bioprocesses and biomedical engineering.
“In the next five to six years, the job market in the life sciences field is expected to grow by 20 percent,” McCrory said. “The educational investments made here at ECU and throughout North Carolina will help educate the workforce of the future and grow our economy.”
Northeastern North Carolina would receive $152 million through Connect NC for improvements at two universities, six state parks and six community colleges if the bond is approved.
In addition to the $1.3 billion in educational investments, the Connect NC bond would also provide $700 million in investments to National Guard facilities, state parks, agriculture, and sewer and water infrastructure throughout the state.
During the panel, McCrory noted that no tax increases would be necessary to finance the bond thanks to the state’s revenue growth and debt service capabilities.
North Carolina voters last approved a bond referendum 15 years ago.