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North Carolina

New Equipment for LED Lighting

Cree is the leading US manufacturer of solid state lighting. Cree Inc was selected to receive a $39 million tax credit to purchase new equipment to add capacity and capability to lower production costs of LED chips and fixtures. Cree has used existing cash to purchase the equipment. The tax credit will offset Cree’s next round of equipment purchasing, which will help the company stay ahead of competitors in Korea, China and Japan.

North Carolina's Numbers

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Number of jobs created or saved by the Recovery Act:

90,000

Recover Act funds made available to support jobs:

$10.4 billion

Recovery Act funds that have already been spent:

$6.6 billion

Number of working families receiving tax relief that can be put to use immediately:

3.4 million

Number of Recovery Act-backed small business loans :

1,337

Miles of highway improved across the state:

370

Number of clean energy projects :

Number of homes that will be weatherized :

12,243

Number of students getting Pell Grants to help pay college tuition:

40,412

Number of education jobs funded by the Recovery Act:

16,438