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Bill Summary · SB 813

Summary: SB 813 — NC Economic Forecasting Initiative (North Carolina, 2025 Session)

Purpose and Intent

  • Establishes the North Carolina Economic Forecasting Initiative to support data-driven policymaking and economic development.
  • Located within the Kenan Institute of Private Enterprise at the Kenan-Flagler Business School, UNC Chapel Hill.
  • Authorizes a dedicated annual appropriation to fund the Initiative beginning in the 2026-2027 fiscal year.

Key Provisions

Appropriation

  • State General Fund appropriation: $3,000,000 (recurring) to the Board of Governors of The University of North Carolina.
  • Funding Source: General Fund.
  • Recipient: Kenan-Flagler Business School at UNC-Chapel Hill.
  • Timing: Funds begin in the 2026-2027 fiscal year.

Establishment and Location

  • Creates the North Carolina Economic Forecasting Initiative within the Kenan Institute of Private Enterprise (Kenan-Flagler Business School).

Purposes and Activities

  • Primary activities:
    • Collect and maintain the state’s nowcast and forecast data at the county level.
    • Provide data and analyses to policymakers, businesses, community colleges, economic developers, and other state stakeholders.
    • Translate economic data into actionable information to promote sustainable, broad-based growth, attract new industry, and create opportunities for residents.
  • Scope of data uses: Focus on timely, county-level economic indicators and forecasts to inform decisions across government, education, and industry.

Data Access and Cooperation

  • State and local government units must cooperate and assist with substance-relevant data to support accurate forecasting.
  • Data requests by the Initiative must be reasonable in scope and allow for a reasonable timeframe for compliance.

Reporting Requirements

  • Beginning December 1, 2026, and annually thereafter (in years with appropriations), the Kenan-Flagler Business School must submit a detailed report on the use of funds under this act.
  • Reports are due to the Joint Legislative Education Oversight Committee and the Fiscal Research Division.

Effective Date

  • The act becomes effective July 1, 2026.

Potential Impact

  • Public-Private Data Collaboration: Creates a formal mechanism for collecting and sharing economic data across state and local governments and private institutions.
  • Improved Economic Planning: County-level forecasts and nowcasts can inform workforce development, infrastructure investment, economic development strategies, and education partnerships.
  • Transparency and Accountability: Annual reporting provides visibility into how the funds are used and the Initiative’s impact.
  • Academic-Policy Link: Leverages UNC-Chapel Hill’s Kenan-Flagler School to produce policy-relevant economic analyses.

Who Is Affected

  • State and local government agencies (data providers and users of forecasts).
  • UNC-Chapel Hill’s Kenan-Flagler Business School (administrative and programmatic lead for the Initiative).
  • Policymakers, economic developers, community colleges, businesses, and other stakeholders relying on county-level economic data.
  • General public benefits through informed economic policy and targeted growth opportunities.

Notes

  • The bill is currently filed and moving through the legislative process; it includes a specific, recurring funding mechanism and a clear reporting requirement.

Compiled from official sources — confirm details with the bill’s official record.

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