McCrory lays out his economic principles for NC

Posted July 11, 2012 3:57 p.m. EDT
Updated July 11, 2012 5:07 p.m. EDT

— Republican gubernatorial nominee Pat McCrory says North Carolina's economy will improve if he's elected with lower tax rates and a state government that's more responsive to business.

McCrory rolled out a plan Wednesday to fix what he calls a broken state economy at a round-table meeting with business owners in Cary.

"North Carolina’s economic development brand is currently being diminished by high taxes, excessive regulation and broken state government," he said. "Neighboring states are reforming and successfully competing for jobs, while North Carolina remains stuck with the fourth-highest unemployment rate in the nation. We must stick to our principles and grow our economy, because that’s what produces the resources to pay for our teachers, police and firefighters and rebuild our infrastructure."

The proposal repeats much of what he's said on the campaign trail back to his first gubernatorial run in 2008, with some additions. Those include the creation of a public-private partnership that would provide private financing to help small business increase exports.

McCrory also said he would work with lawmakers to modernize the state's tax code and fight to stop what we he called onerous regulations.

Democratic nominee Walter Dalton's campaign has criticized McCrory's platform on incentives.

"Pat McCrory’s platitudes cannot hide the fact that he's against competing with other states for jobs, he supports cuts to schools and wants to limit the scope of community colleges," Dalton spokesman Schorr Johnson said in a statement.