GENERAL ASSEMBLY OF NORTH CAROLINA

SESSION 1997

S	1 

SENATE BILL 1574

Short Title:  Cumberland Industrial Park Funds.	(Public)

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Sponsors: Senators Shaw of Cumberland; Lucas, Rand, and Weinstein.

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Referred to:  Appropriations.

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June 1, 1998

A BILL TO BE ENTITLED
AN ACT TO APPROPRIATE FUNDS FOR THE EXPANSION OF THE CUMBERLAND COUNTY INDUSTRIAL PARK.
Whereas, Cumberland County is the fourth largest metropolitan area of the State; and
Whereas, Cumberland County is a low-wealth, distressed area; and
Whereas, based on its high rate of unemployment and low per capita income, the Department of Commerce has designated Cumberland County as a Tier 2 County in order to encourage development; and
Whereas, the continued recruitment of new and expanded industry is vital to the economic well-being of Cumberland County; and
Whereas, expanding Cumberland County's Industrial Park would enhance industrial and economic development in Cumberland County by providing additional jobs, revitalizing distressed areas in the county, and attracting new business; and
Whereas, the expansion would also provide Cumberland County the opportunity for better competition for business, thereby creating a better balance of the growth in the State; Now, therefore,
The General Assembly of North Carolina enacts:
Section 1.  There is appropriated from the General Fund to Cumberland County the sum of one million dollars ($1,000,000) for the 1998-99 fiscal year to expand the county's Industrial Park facility, provided that these funds are matched on the basis of one dollar ($1.00) of non-State funds for every one dollar ($1.00) of State funds.
Section 2.  This act becomes effective July 1, 1998.