- The Progressive Pulse - http://pulse.ncpolicywatch.org -

North Carolina’s economic growth some of the fastest in the South and the nation

During yesterday’s press conference announcing the latest tax cut package proposed by the General Assembly and Governor McCrory, we heard a lot about the need for North Carolina’s economy to become competitive again as justification for their plans to steeply reduce tax rates on corporations and wealthy individuals.

But the evidence just keeps piling up that North Carolina’s economy is already competitive—regardless of the Tarheel State’s personal and corporate income tax rates. In the latest piece of news from the U.S. Bureau of Economic Analysis, it turns out that North Carolina experienced some the fastest economic growth in the nation in 2012, as measured by the annual change in real per capita Gross Domestic Product—a clear sign that our state is far more economically competitive than our legislative leaders try to pretend.

By the numbers [1], here’s how North Carolina’s economic growth stacks up to other states:

If North Carolina’s economy was uncompetitive as Governor McCrory and our legislative leaders contend, it’s hard to see it in how our state stacks up in terms of economic growth.