North Carolina is hoping to capitalize on the recession’s silver lining by financing highway construction with an innovative contract between the state and private contractors — a deal that could accomplish one of Gov. Beverly Perdue’s transportation goals, even though the state treasurer’s office has expressed some reservations.

The recession, which officially began two years ago this month, according to the National Bureau of Economic Research, led to a 15% decline in North Carolina tax revenue in fiscal 2009, and revenues in the first four months of fiscal 2010 are 1.5% below estimates. 

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.