March 21, 2013
STATEMENT FROM ABDUL RASHEED, CEO, NORTH CAROLINA COMMUNITY DEVELOPMENT INITIATIVE
N.C. Gov. Pat McCrory released his proposed budget for 2013-2015 with no funding for the North Carolina Community Development Initiative to continue investing in communities across our state.
This stunning proposal to withdraw all state funding for our work reflects a profound lack of understanding and judgment by the Governor and his staff about the needs of North Carolina’s most hard-hit communities and the economic value and impact of the Initiative and its network of community economic development partners.
Cutting the Initiative’s $3.8 million budget will mean little for the state’s overall financial health, but it will deal a devastating blow to the community partners we fund and the communities they serve:
- The state will lose an economic infrastructure built over 20 years that has created 11,000 jobs, built $600 million in commercial development and affordable housing, and helped more than 50,000 North Carolinians become more financially secure.
- The cut would threaten the very existence of the community partner organizations that currently depend on substantial funding from the Initiative to continue their work creating economic opportunity and stable communities in our state’s most distressed areas.
- The state also stands to lose more than 1,000 jobs created each year through the work of these organizations.
The North Carolina Community Development Initiative plays a critical role in catalyzing economic growth in the most challenging areas of the state. Our expertise, our statewide infrastructure, our innovative solutions, and our investments are needed now more than ever.
For this reason, I have asked our community partners to join me in reaching out to members of the General Assembly to make sure they understand the value and impact of this important economic development work and the economic consequences if it does not continue. We ask state legislators to restore funding for the Initiative in the budget they approve.
We cannot afford to undermine North Carolina’s fragile economic recovery by devastating one of its most effective economic development assets. We must preserve our work and that of our partners and continue creating prosperity for our communities.
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About the N.C. Community Development Initiative
The N.C. Community Development Initiative leads North Carolina’s collaborative community economic development effort, driving innovation, investment and action to create prosperous, sustainable communities. For more information, visit www.ncinitiative.org.
Contact: Erin Zanders, 919.835.6070, email@example.com