Core Budget Highlights
- Increases teacher pay by 5% over the next two years and provides $2,800 in bonus and an additional 1.7% average increase as part of a low wealth teacher supplement.
- Increases pay for non-certified school personnel to $15 per hour.
- 5% bonus over 2 years for our state retirees
- Increases pay by 5% for state employers, university and community college faculty.
- Eliminates state income tax on military retirement/pension
- Invests over $1 billion for broadband and closing the digital divide
- Invests over $6 billion in Infrastructure, including over $800 million in school construction.
- Reduces the personal income tax rate from to 3.99% by 2027
- Increases standard tax deduction to $25,500 and child tax deduction by $500 per child.
- Increases funding to protect our air and water including specific investment to address PFAS and emerging compounds
Total Local Investment $412M
Locally, this budget represents a historic investment in Cumberland County.
- $198+ million for higher education
- $64+ million for local government
- $27+ million for veterans and the military
- $19+ million for our environment and natural resources
- $11+ million in the health care area,
- $4 million for economic investment in our businesses and people.
- $87+ million of capital investment in local projects.
Investment in Murchison Road Corridor – $172M
- $5M in historic building updates and creation of African American trail – includes – Orange Street School; Market House Repurposing; EE Smith House; MLK Park; Umoja Wall enhancements (in addition to $150K of direct funding to Umoja Group); planning for City Greenway and African American Trail; support community stories and historic sites
- $2.5M for direct funding to MLK Park Association
- $163M of capital investment in Fayetteville State University – largest in history
- $150K – Umoja Group to digitize and stabilize the Umoja Wall
- $750K for community health centers along Murchison road to increase health care access for minority communities and affect health care disparity
- $575K pedestrian safety investment for crosswalks in this corridor
Investment in Minority Small Business
- Economic Equity Venture Capital Fund (pilot) ($2.5M)
- Focused on growing minority companies; repurpose the tech VC model to economic justice; goal – fund 10 businesses that employ 10+ employees over 5 years; leverage private and foundation funding as well
- Center for Economic Empowerment and Development (CEED) ($750K)
- Grant to grow minority owned business (training and funding) and create a CDFI for minority business capital
Capital Investment in Community – drive construction and job growth
- $352 million of capital investment across the community – includes local governments, university, community college, and local non-profits
Infrastructure & Resiliency Investment
- $42.6 million of investment in local infrastructure (including roads & crosswalks) and stormwater repairs and proactive construction to protect future damage from storms
Addressing Economic Mobility
- Reduce Generational Poverty Fund – $1M
- City of Fayetteville – Homeless Day Center – $1M
- Cumberland County – Homeless Shelter – $1M
- City of Fayetteville – Housing Trust Fund – $1M
Quality of Life
- $14M investment in parks, art, and entertainment
Supporting Military and our Veterans
- Over $27M investment locally
- Eliminates state income tax on military pensions
- Veterans Health Care pilot
- Fund Veterans Court
- Workforce Training – soldier to farmer programs
- Military family counselors
Health Care
- Southern Regional Area Health Education Center – Residency Program ($9.6M)
- Cape Fear Valley Hospital – teaching and research center
- Critical funding for mental health –
- Myrover Reece
- Veterans –
- Project Healing Water
- Veterans Health Care pilot