About the Office of Economic Recovery & Investment

The Office of Economic Recovery & Investment is a temporary office that coordinates and monitors North Carolina´s use of the federal stimulus funds. The office will help ensure that the funds will be put to use quickly and efficiently, and with the transparency and accountability that North Carolinians expect.

The federal stimulus package provides about $6.1 billion in direct aid to North Carolina to create jobs, address state budget stability, and rebuild and expand our state's critical infrastructure, including highways and schools. It also injects additional money into the state through targeted tax cuts, additional grants from federal agencies and direct funding for specific federal programs in the state.

Governor Perdue has named former Congressman Bob Etheridge to lead the office and provide accountability for the use of the stimulus funds. Congressman Etheridges appoinment follows the retirement of previous director Dempsey Benton.

Mission

On February 17, 2009, Governor Bev Perdue announced the creation of the Office of Economic Recovery & Investment. To ensure transparency, accountability and efficiency the office will coordinate and track North Carolina´s handling of federal stimulus funds as well as state-level economic recovery initiatives.

The Governor´s Economic Recovery and Investment Office will:

• Track all federal dollars flowing into state and local governments as well as to private businesses and non-profit organizations.
• Maximize the state´s use of available federal stimulus funds.
• Identify the most rapid ways to move the stimulus money into the economy and remove regulatory and other impediments.
• Establish open and effective lines of communication with federal and state agencies, local governments and North Carolina´s Congressional delegation to assist in efforts to effectively and rapidly use the federal stimulus funds.
• Develop a communications network, using a variety of tools including the Internet, to keep the public informed about the status and progress of the recovery effort, along with funding opportunities.
• Report to the General Assembly and the citizens on a regular basis about the status of the use of the stimulus funds, including federal, state and other non-federal money.
• Measure progress of the recovery effort by tracking the state´s economic condition.

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