PNC Public Finance: Meeting Growing Infrastructure Needs in North Carolina

The future is bright in North Carolina, as the state is on the fast track to growth. The population is expected to total 11.7 million residents by 2030 and 15.4 million by 2060.¹ But with the growing head count comes growing infrastructure needs – and PNC Public Finance is committed to helping find solutions.

Through projects addressing everything from roads and schools to water and wastewater services, PNC Public Finance is making a significant investment in building, expanding, and improving the public institutions that serve the people of North Carolina. These investments have a dual purpose of sustainability and promoting economic growth, according to Kyle Huber, relationship manager in PNC Public Finance.

“The strength of the state’s infrastructure is an important factor for economic development initiatives,” said Huber. “Additionally, the local infrastructure contributes to the quality of life that makes North Carolina such an attractive place to live and work. That’s why PNC is committed to helping communities move forward with projects that deliver on this dual objective.”

One of the projects in which PNC is helping lead financing is the expansion of a regional water treatment facility that underpins the biotechnology industry surrounding Raleigh. A joint effort between multiple municipalities, this investment reflects the collaboration, master planning, and vision in North Carolina’s public sector that have helped the state achieve global prominence in multiple industries.

“When you think about some of the municipalities around the Research Triangle, for example, there are places that have more than doubled their populations over the past 15 years,” said Huber. “Today they are home to campuses of major corporations and thriving communities. This growth has ushered in a new host of demands, so the challenge becomes understanding when and how capital can most efficiently be deployed to meet the goals unique to each community.”

In other projects, PNC Public Finance is also involved in providing financing for the development of housing for ocean rescue staff and seasonal employees in the Outer Banks, as well as for several rural capital projects to replace community facilities that are in need of repairs or rebuilding.

Bringing these developments to life is not a simple or straightforward process. Financing solutions tend to be dynamic, often including a mix of bank financing and publicly issued bonds. PNC’s Public Finance group offers both, with PNC Capital Markets LLC also helping local governments access the capital markets for long-term, fixed-rate tax-exempt bonds.

The financings also involve a high level of collaboration between the bank and public sector entities, as well as a strong commitment to responsibly managing the financing of assets and resources. “As a state resident and taxpayer, I want to see public resources stewarded responsibly and deployed as strategically as possible,” Huber said. “As a banker, my goal is to help clients structure deals while navigating shifting markets and external factors of varying levels of complexity, in collaboration with colleagues and local decision makers. One of the most fulfilling aspects of financing a capital project, which can take several years to bring to fruition, is the opportunity to work closely with government finance officers who put great diligence into managing public interests.”

One important component adjacent to many of these financings is the adoption of treasury management solutions. In addition to helping public sector entities better manage funds and processes through automation and digital transformation, these solutions can be critical to the institutions’ resilience and productivity as they contend with the growing threat of cyber fraud.

“Each transaction represents a journey for these North Carolina communities,” said Huber. “Each project creates its own set of ripple effects, and I am humbled to play a role in helping finance infrastructure assets that will support the state’s brilliant future.”

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PNC Public Finance is committed to serving the financial needs of public sector entities of all types and sizes. Reach out to your Relationship Manager to learn more, or contact us.

Source

1. NC to Become 7th Most Populated State in Early 2030s

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PNC Capital Markets LLC (“PNCCM”) is providing the information contained in this document for discussion purposes only in anticipation of serving as an underwriter to the person to whom this document is addressed. The information provided herein is not intended to be and should not be construed as “advice” within the meaning of Section 15B of the Securities Exchange Act of 1934, as amended (“Exchange Act”), unless such information is provided (i) within the scope of an underwriting of an issuance of municipal securities for which PNCCM is acting or seeking to act as underwriter, (ii) to a person that is separately advised by an independent registered municipal advisor, pursuant to the requirements of Exchange Act Rule 15Ba1-1(d)(3)(vi), or (iii) in response to a written or oral request for proposals or qualifications. PNCCM is not acting as a municipal advisor, and is not subject to the fiduciary duty established in Section 15B(c)(1) of the Exchange Act, with respect to this communication or any related municipal financial product or issuance of municipal securities. PNCCM is not recommending any action to any municipal entity or obligated person and such entity should discuss any information and material contained in this communication with any and all internal or external advisors and experts that the municipal entity or obligated person deems appropriate before acting on this information or material.

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