NC lawmakers question their $500 million investment in a private nonprofit ...Middle East

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NC lawmakers question their $500 million investment in a private nonprofit
Bennet Waters, NCInnovation's CEO, said the goal of the private nonprofit is to keep top-talent and innovation in North Carolina, rather than losing those businesses to other states. (Photo: NCGA video stream)Members of the House Select Committee on Oversight and Reform on Tuesday grilled the president and CEO of NCInnovation, a private nonprofit that was awarded $500 million in the 2023 biennial state budget despite a widespread lack of understanding among lawmakers as to how the money would be used or how the projects would be chosen. “Members need to understand what NCI plans to do with its money, how it expects to defy market trends and earn 8% annual returns each year for the next 10 ye

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