§ 143B-437.70. Legislative findings and purpose.
Part 2H. One North Carolina Fund.
§ 143B‑437.70. Legislative findings and purpose.
The General Assembly findsthat:
(1) It is the policy ofthe State of North Carolina to stimulate economic activity and to create newjobs for the citizens of the State by encouraging and promoting the retentionand expansion of existing business and industry within the State and byrecruiting and attracting new business and industry to the State.
(2) Both short‑termand long‑term economic trends at the State, national, and internationallevels have made the successful implementation of the State's economicdevelopment policy and programs both more critical and more challenging; andthe decline in the State's traditional industries, and the resulting adverseimpact upon the State and its citizens, have been exacerbated in recent yearsby adverse national and State economic trends that contribute to the reductionin the State's industrial base and that inhibit the State's ability to sustainor attract new and expanding businesses.
(3) The purpose of thisPart is to stimulate economic activity and to create new jobs within the State.
(4) The enactment ofthis Part will maintain consistency and accountability in a key economicdevelopment program and will ensure that the program benefits the State and itscitizens.
(5) Nothing in this Partshall be construed to constitute a guarantee or assumption by the State of anydebt of any business or to authorize the taxing power or the full faith andcredit of the State to be pledged. (2004‑88, s. 1(d).)