Surry County News

Read about new business, events and news that effects life and commerce in the western Piedmont Triad.

N.C. has enough debt capacity to absorb $2B bond proposal, treasurer says

N.C. has enough debt capacity to absorb $2B bond proposal, treasurer says Jan 28, 2016, 7:25am EST The North Carolina general fund has enough capacity to absorb $210 million in new debts per year for the next 10 years, according to a study released by N.C. Treasurer Janet Cowell.

Every year, the Debt Affordability Advisory Committee provides a look at North Carolinas debt capacity, but the report carries extra weight this year as North Carolinians will vote on a bond package in March that could see the state borrow $2 billion for a wide range of infrastructure projects.

In short, the report supports the notion that the state could borrow the full $2 billion without the need to raise taxes, something bond supporters, including Gov. Pat McCrory, have also said. North Carolina enjoys a triple-A rating from all three major rating agencies, one of only nine states that can boast that claim. The states debt ratios are below the median of those nine states, and the advisory committee estimates that additional borrowing from the bond proposal would not cause a ratings downgrade.

This report is of elevated importance this year as voters consider approval of the Connect NC Bonds, Cowell said in a statement. Our findings demonstrate that North Carolina has maintained a conservative posture on debt and has the ability to responsibly invest in its future and keep the AAA bond ratings if the Connect NC bonds are approved. In addition to the general fund report, the advisory committee report shows the combined debt capacity of the Highway Fund and the Highway Trust Fund is about $1.1 billion for the current fiscal year.

Surrey Bank survives by blending old-fashioned feel with modern services

MOUNT AIRY — Blending an old-fashioned atmosphere with modern banking services is at the heart of Surrey Bancorp’s motto of “Small enough to know you, large enough to serve you.”

Customers are greeted by name as they entered the main branch of the Mount Airy community bank, just what you would expect in a rural town that embraces the embodiment of fictional Mayberry.

Tellers await behind dark wood panels that resemble church pews. The office of Ted Ashby, long-time chief executive and president, is not only accessible, but right off the lobby by design.

Read full story here.

“The resources and assistance provided by the Surry County Economic Development Partnership, the City of Mount Airy, the Mount Airy Chamber of Commerce and Surry Community College were essential to the success of our start up venture.”

Andrew Clabough

President, Willow Tex

Contact Us

Surry County Economic Development Partnership, Inc.
1218 State St.,
Mt. Airy NC 27030
PO BOX 7128

Contact Us

Surry County Economic Development Partnership Inc. 1218 State St., Mt. Airy NC 27030
PO BOX 7128

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