You may remember reading about NCInnovation. And you may remember it’s bad news for North Carolina.
The program has so many flaws.
And at the time of this writing, it’s scheduled to eat up $500 million tax dollars. That’s right, $500 million dollars flowing to NCInnovation instead of police, firefighters, emergency services, and education.
The government has a terrible track record of picking winners and losers. And you shouldn’t be on the hook for their gambles.
NCInnovation lets a government-funded nonprofit pick winners and losers.
That never ends well.
In fact, when Texas and Georgia tried it, they created slow-burning disasters.
Those states’ misguided programs left a string of failed companies and accusations of corruption in their wake.
We have no reason to believe NCInnovation will be any different. It has no track record of success.
And its current $500 million handout is probably just the tip of the iceberg.
Because its eventual failure is likely to take time, NCInnovation may continue to beg for funding from politicians who want it to succeed.
The total price tag could possibly turn into billions. And for what? To support an untested nonprofit that wants to serve as a venture capitalist with your money?
The truth is, the state government needs to focus on other priorities and let private citizens and businesses make these important investments and evaluate them based on their own risk management philosophies.
North Carolina voters overwhelmingly support citizen-only voting, according to a recent poll. That’s not surprising, and it’s consistent with voting results from other states. The shocking truth: Americans want actual American citizens to vote! Read more on the results of the poll.
Many North Carolina families don’t know if they’ll have access to Opportunity Scholarship funding this year. That’s creating a crisis for parents and children who don’t know what school they’ll attend in the fall. And it’s all enabled by the North Carolina House’s inaction. They want to wait for a budget to pass—but by that time, it may be too late for many families. Learn more about what the North Carolina House should be doing for our state’s children.
Want to better understand North Carolina’s budget? See our report to find out more on the trends in our ever growing budget, which has ballooned to $30 billion ($65 billion after federal funding and other spending are taken into account). Find out more.
