“We are just a small company in a small city…that is trying to pursue the American Dream, owning your own business. Right now, something that we feel very strongly about is the continued efforts to have more regulations put on us, maybe corporate America can deal with it but it can make or break a small business.”
Matt Adams, Executive VP, Regal Rubber Company (Gastonia, NC)
The Impact of Regulations on North Carolina
- 4,128 regulations could be implemented over the next four years, which would greatly impact the American economy
- $515 billion is the estimated cost of planned regulations to the economy
- 797,358 people who work in North Carolina’s major industries could be impacted by the tidal wave of regulations
- $107 billion of North Carolina’s gross state product (GSP) could be negatively impacted
In order to help North Carolina’s small businesses and overall economy, we need sensible, clear, and fair regulations. This administration should be making sure that every regulation protects American citizens, without harming small businesses. This will help our small businesses hire and invest and ultimately, make America’s economy healthier.
To read more about the North Carolina’s economy and the potential impact of the regulatory tidal wave on North Carolina, click here
*Source: Bureau Of Labor Statistics, Local Area Unemployment Statistics, Accessed 6/28/12
**Source: Bureau of Economic Analysis, GDP by State and Employment Numbers, Accessed 6/28/12