Rapid economic change is forcing communities to find sustainable forms of development and job creation. New approaches to “grow our own” through entrepreneurship and support for existing companies are emerging to complement traditional recruitment strategies.
The forces buffeting our economy hit those with less education and fewer skills the hardest. Many good jobs today, and a greater number in the future, require more than a high school education as well as an ability to learn continually. This presents a challenge to our educational and workforce development systems to respond effectively to meet these needs.
Effective responses to boost long-term competitiveness will likely require targeted and sustained investments of public and private resources over time. Our current systems of public finance at the state and local levels are outdated and ill-suited to meeting these needs. A system that allocates adequate resources to high priority areas–despite the inevitable ups and downs of the economic cycle–is crucial.
The North Carolina State Tax Calculator enables users to adjust elements of the three most important sources of state tax revenue—the sales tax, personal income tax, and business taxes—to experiment with different solutions to these problems. Try your hand at adjusting the various tax rates and bases and see how revenue changes affect the state’s long term deficit!
Anson-Stanley New Tech High School trains students for future jobs that will raise incomes and lower poverty rates in our state. This teaching instills a strong desire in students to not only continue to post-secondary education, but to come back and improve the economy of their local communities. Watch this and other videos in the Economy Section of the Emerging Issues Commons.
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