After a decade of financial struggle, the small town of East Laurinburg in Scotland County could soon cease to exist.
It could be the start of a trend: State Treasurer Dale Folwell now warns that a growing number of North Carolina towns are at risk of insolvency.
To date, a half-dozen other small rural N.C. towns have had their financial operations taken over by the Local Government Commission due to a lack of fiscal controls.
“These aren’t revolutions; these are evolutions. These are patterns and trends that have been evolving for, in some cases, 20 years and they’re just now coming to a head,” said Folwell, who chairs the Local Government Commission as part of his role.
by Barry Teater, NCBiotech Writer May 13, 2021 .
RESEARCH TRIANGLE PARK The North Carolina Biotechnology Center awarded 48 grants and loans totaling nearly $1.8 million to universities, bioscience companies and other entities in the third quarter of its fiscal year.
The awards, made in January, February and March, support life sciences research, technology commercialization and entrepreneurship throughout North Carolina. The funding also helps universities and companies attract follow-on funding from other sources.
Company loans
Three bioscience companies received Small Business Research Loans totaling $550,000 to advance their research, product development and commercial viability.
Alacrity Medical Innovations of Chapel Hill received $100,000 to complete prototype development and prepare for an Investigational New Drug (IND) filing with the U.S. Food and Drug Administration for a disposable, drug-device combination product that treats mild to moderate bleeding in patients
The state’s local governments have been surviving for years on pass-through payments from Raleigh and DC. Quite often, these payments are not “forever” gifts. They often have an expiration date leaving the recipients at the local level scrambling to find a replacement for said money when the spigot gets turned off.
According to the state treasurer’s office and the Local Government Commission, the chickens may be finally coming home to roost (as far as that practice goes):
At the April meeting of the Local Government Commission (LGC) members voted to recommend that the General Assembly repeal the charter of East Laurinburg. […]
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Unemployment Rates Fall Across Hickory Metro
Unemployment Rates Fall Across Hickory Metro
May 4, 2021
Unemployment rates fell across the Hickory Metro and throughout the state of North Carolina according to the latest report issued by the North Carolina Department of Commerce Labor and Economic Analysis Division. The report was issued last week and it reflects the jobless rates for March.
Catawba County’s unemployment rate is 4.5 percent, down from 5.4 in the February report. Alexander County’s jobless rate dropped to 3.9 percent, from 4.7 percent in the last update. Burke County’s unemployment rate is 4.4 percent, down from 5.3 percent. Caldwell County’s jobless rate is 4.8 percent, a reduction from 5.8 percent in February.