News
State-Owned Ports, Rail Draw Interest
RALEIGH — In any look at real property owned by the state, the North Carolina State Ports Authority and the North Carolina Railroad Co. occupy special niches. There has been little serious talk about privatization, even though the enterprises represent millions of dollars worth of assets that could potentially be realized by the state. The ports are self-sufficient for operating expenses, but major capital improvements depend on federal and state money. Meanwhile, since the NC Railroad it is one state enterprise that actually makes money, it proved an inviting target during the recent budget crunch. In 2001, $19 million of its earnings were diverted to nonrail uses by the General Assembly.
