The Research Triangle region will lose more than 9,200 jobs and $486 million in lost labor income by 2013 as a result of the recent cuts in the state budget, according to a study by the N.C. Budget & Tax Center, a liberal-leaning Raleigh-based advocacy group.
The center computed the impact of $4.6 billion in cuts in education, health care and public safety and other services over the next two years on each region of the state.
Using what it said was industry-standard economic impact methods to measure the impact of spending on the state's economy, the center found that the budget cuts would destroy more than 14,000 jobs in the region, while creating only 4,700 jobs.
"At least 53 percent of these job losses will occur in the private sector, demonstrating the extend to which public-sector layoffs and spending cuts damage the private sector,” the report said.
“Based on this analysis, it is clear that the decision to “right-size” state government through deep spending cuts will only serve to downsize the Research Triangle economy,” the report said.