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RALEIGH, N.C. — Eight members of North Carolina's congressional delegation on Friday sent a letter to Gov. Roy Cooper to find out why the state has been so slow in doling out federal recovery funds following Hurricane Matthew.
North Carolina received about $400 million in federal community development grants after the October 2016 hurricane flooded many eastern counties, but as of the beginning of this month, only about $40,000 had been passed on to storm survivors. The rest was still tied up in red tape.
Parts of Cabarrus County have been included in opportunity zones designated by tax reform legislation signed into law last year and certified by the U.S. Treasury this week, opening a new source of investment capital and economic growth for places and people who need it most.
The Tax Cuts and Jobs Act created 252 opportunity zones across North Carolina’s 100 counties to spur investment, economic growth and jobs in economically disadvantaged, struggling and low-income communities throughout the country.
South Lawn
2:28 P.M. EDT
THE PRESIDENT: Come on up here. A lot of courage, driving those cars. A lot of courage. Good afternoon. Today, I’m thrilled to welcome the 2017 NASCAR Champion, Martin Truex Jr. That is fantastic. (Applause.) And, Sherry, thank you. But I’m going to be mentioning you in a little while, Sherry. Thank you very much. And the entire Furniture Row Racing Team to the White House. Thank you, Furniture Row. (Applause.) Thank you. Great job.