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About us
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Lt. Governor Beverly Perdue joins Board member General William “Buck” Kernan, USA, (ret.) in announcing the Foundation December 4, 2006.
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Much like state leaders decided over the past fifty years to build
on North Carolina’s core strengths and develop a world-class
banking sector and, later, a thriving biotechnology industry, the
North Carolina Military Foundation is a new initiative to spearhead
the growth of a nationally competitive defense and security sector
in North Carolina. The Foundation’s objective is to
build on the state’s sustainable competitive advantages and
attract new long-term industry that will in turn, help grow the
economy and create jobs. In carrying out its mission, the
Foundation will collaborate with other groups already active in
this area.
The Foundation seeks to ultimately achieve a single objective: Increased
contributions that North Carolina makes to Department of Defense,
Homeland Security, and other agencies engaged in serving our nation’s
defense and security needs, resulting in increased overall dollar
amount coming to the state from these entities.
A study commissioned by the North Carolina Military Business Center
underscores the importance that the military economy can have on
North Carolina: If North Carolina can grow its share of U.S.
defense procurement from 1.0 percent of the U.S. total to 1.5 percent
by 2010, the state would earn an additional $1.7 billion in defense
contracts each year. Those contracts would support 30,000 new jobs
and generate $150 million in new annual state and local tax revenue
(see footnote).
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