Governor Stein invites input on recovery plan for Western North Carolina
RALEIGH N.C. (WNCT) — Governor Josh Stein invites North Carolinians to participate in the development of an Action Plan to address housing and economic hurricane recovery needs in Western North Carolina.
The $1.4 billion proposed plan, published by N.C. Commerce's new Division of Community Revitalization will be submitted to the U.S. Department of Housing and Urban Development (HUD) for approval once the draft plan is finalized.
The Action Plan is a required step for receiving federal funds from a Community Development Block Grant Disaster Recovery (CDBG-DR) award, which Governor Stein announced at a January 7th press conference in Asheville. Today marks the opening of a formal, 30-day comment period when people can offer input through email, online, by postal letter or fax, or through a series of public meetings being scheduled this month in least six Western North Carolina communities.
'Western North Carolina is going to build back stronger than ever, but it's going to take work and planning,' said Governor Stein. 'I am grateful to everyone who offers constructive feedback and works with us to turn this plan into reality and spur action in the region's economy.'
The state's Action Plan draft can be found online at commerce.nc.gov/recovery.
Several options are available for submitting comments about the state's proposed CDBG-DR Action Plan.
Go online to commerce.nc.gov/recovery-comments
Mail your comments to:
North Carolina Department of Commerce
4346 Mail Service Center Raleigh, North Carolina 27699-4301
Attention: CDBG-DR Public Comment
Fax your comments to: (919) 715-0096
Email your comments to: helene.recovery@commerce.nc.gov
In addition, a series of in-person public hearings are scheduled in the month of February in six western North Carolina locations. Details of these meetings can be reviewed at the N.C. Commerce website.
More information about N.C. Commerce's new Division of Community Revitalization and its role in the western North Carolina recovery can be found online at commerce.nc.gov/recovery.
Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Newsweek
a day ago
- Newsweek
The Bulletin June 3, 2025
The rundown: The Chinese foreign ministry spelled out what it said were the three violations of the tariff-slashing China-U.S. agreement reached in Geneva, and accused Washington of taking "extreme measures" based on "defamatory accusations". Get more details. Why it matters: Lin Jian, spokesman for the ministry, listed "controls on chip exports to China, halting the sales of chip design software to China, and announcing revocations of Chinese student visas" as having "severely violated the common understandings reached in Geneva". "China firmly opposed this and made strong protests," Lin said at a press briefing on Tuesday morning. "Let me stress once again that this pressuring and coercion is not the right way to engage with China. We urge the U.S. to respect the facts, stop peddling misinformation, correct relevant wrongdoings, and take concrete moves to uphold the common understandings reached by the two sides." Read more in-depth coverage: Ex-Trump Official Lays Out Why China Might Be 'Worried' To Cut Tariff Deal TL/DR: "Let me stress once again that this pressuring and coercion is not the right way to engage with China.' What happens now? President Trump had earlier accused China of having violated the agreement, and that he would soon speak to Chinese President Xi Jinping to try to resolve the issues that have arisen. Deeper reading China Says US Violated Trade Truce With Three Moves
Yahoo
2 days ago
- Yahoo
Broadcom Gets Mixed Reactions As Modest Earnings Beat Sparks Profit-Taking
Wall Street analysts rerated Broadcom Inc (NASDAQ: AVGO) after it reported second-quarter financial results on Thursday. The company reported second-quarter revenue of $15 billion, up 20%, beating analyst estimates of $14.99 billion, driven by continued momentum in AI semiconductor solutions and VMware. The semiconductor company reported second-quarter adjusted earnings of $1.58 per share, beating analyst estimates of $1.56. The second-quarter AI revenue grew 46% to over $4.4 billion, driven by robust demand for AI networking. Broadcom Tomahawk 6 Flexes AI Muscle, Hyperscalers Are Buying In Broadcom expects third-quarter revenue of approximately $15.8 billion, versus estimates of $15.79 billion. JP Morgan analyst Harlan Sur maintained Broadcom with an Overweight and raised the price target from $250 to $325. Truist Securities analyst William Stein reiterated Broadcom with a Buy and raised the price target from $267 to $295. Rosenblatt analyst Kevin Cassidy maintained Broadcom with a Buy and raised the price target from $223 to $340. Cantor Fitzgerald analyst Matthew Prisco reiterated Broadcom with an Overweight and a $300 price target. Benchmark analyst Cody Acree maintained Broadcom with a Buy and raised the price target from $255 to $315. JP Morgan analyst Sur is encouraged by the Broadcom team's strong line of sight to fiscal 2026 AI revenue profile driven by strong cloud/hyperscaler capex spending trends with continued focus on AI training combined with accelerating AI inference workloads, continued ramp of Alphabet Inc (NASDAQ:GOOGL) Google's next-gen TPU v6/v7 3nm AI accelerator ASICs, ramp up of Meta Platforms (NASDAQ:META) 3nm, and continued strong adoption of ethernet networking. The continued substantial AI revenues underscore Broadcom's strong design win pipeline and confirm Sur's belief that internally developed custom ASIC silicon programs offer opportunities for differentiation, efficiency gains, and improved silicon economics. The analyst said that the fundamentals of cyclical semiconductor businesses are stabilizing across most areas. He stressed that Broadcom continues successfully converting and upselling to its VCF full-stack solution in the infrastructure software business. Even during macro volatility, the team drives a solid revenue growth profile. Sur estimated that Free Cash Flow generation will be $26 billion this year, up 34% year over year, implying a substantial dividend raise at the end of this fiscal year. Broadcom remains his top pick in semiconductors. Broadcom delivered only a modest upside to calendar first-quarter results and the calendar second-quarter guide. Still, Truist Securities analyst Stein noted investors were expecting a more significant beat, considering results from Nvidia Corp (NASDAQ:NVDA) and capex outlooks from hyperscale companies. Stein stated Broadcom's long-term position in AI is stable or potentially improving, with significant customer additions (3 current and 4 potential additions) suggesting meaningful potential upside. He also anticipated long-term upside at VMWare. Broadcom's non-AI semi-sales in the calendar first quarter aligned with Stein's estimate. Still, management guided to flat quarter-on-quarter growth, implying $4 billion in the calendar second quarter and a ~5% miss compared to his model (not surprising to him, considering that he noted excess channel inventory). AI computes (custom accelerators) made up ~60% of total AI sales in the calendar first quarter, implying ~$2.6 billion (14% below his estimate of $3.1 billion). However, Stein remarked that AI networking delivered $1.8 billion in sales, up 170% Y/Y and 33% above his estimate of $1.3 billion. He said that Broadcom expects to shift back to 70/30 compute/networking going forward, implying a double-digit quarter-over-quarter decline in AI networking revenue and an acceleration in custom silicon. Rosenblatt analyst Cassidy writes in the analyst note that Broadcom reported a mostly inline quarter with AI revenue up 46% Q/Q and guided to 60% Y/Y growth. The analyst said that based on good visibility from its three XPU customers, management believes this growth rate can continue into 2026. He was interested in adopting Broadcom's Ethernet products to scale up connectivity and scaling out. Scale-up unit volumes are 5x to 10x higher than scale-out, Cassidy said. The analyst noted that the applications are for both LLM training and inference. He said that with three hyper-scale customers ramping up production, management discussed the other four XPU prospects. Cassidy continued recommending the stock for its strong custom ASIC capabilities. While the second-quarter results and third-quarter guide may be viewed as only a 'skinny beat,' underneath the covers was a very bullish outlook from Broadcom management, Cantor analyst Prisco stated. Broadcom remains Prisco's top pick. AI Semi revenues were guided at +16% Q/Q and 60% Y/Y for the third quarter, with management then suggesting improved visibility today that gives them confidence that the AI semiconductor business can grow at this ~60% rate for all of fiscal 2025 and 2026, the analyst said. He said that AI semiconductor revenues are projected to reach $20 billion+ in fiscal 2025 and $30 billion+ in fiscal 2026, delivering meaningful upside to consensus into calendar 2026. Prisco remarked that non-AI Semiconductor revenues continue to bounce along the bottom while the cash cow Infrastructure Software grows modestly. On a relatively modest beat and raise, Broadcom's shares are off about 4% after hours as investors grapple with results that were closer to the small upside that pummelled Marvell's shares last week versus the stronger outperformance delivered by Nvidia when adjusting for their Chinese exposure, analyst Acree stated. The analyst writes that he understands investors taking profits, particularly considering the company's $120-plus run since its recent early April lows of about $139. He continues to believe Broadcom represents an attractive opportunity as the number two provider of advanced accelerated compute and networking solutions to the AI industry, with direct leverage to the steadily increasing capex budgets of a growing number of the market's largest hyperscale investors. Price Action: AVGO stock is trading lower by 5.25% to $243.28 at the last check Friday. Read Next:Photo by Ken Wolter via Shutterstock Date Firm Action From To Mar 2022 Truist Securities Maintains Buy Mar 2022 JP Morgan Maintains Overweight Mar 2022 Morgan Stanley Maintains Overweight View More Analyst Ratings for AVGO View the Latest Analyst Ratings UNLOCKED: 5 NEW TRADES EVERY WEEK. Click now to get top trade ideas daily, plus unlimited access to cutting-edge tools and strategies to gain an edge in the markets. Get the latest stock analysis from Benzinga? BROADCOM (AVGO): Free Stock Analysis Report This article Broadcom Gets Mixed Reactions As Modest Earnings Beat Sparks Profit-Taking originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved.
Yahoo
2 days ago
- Yahoo
Get ready for hunger to skyrocket in North Carolina
At a farm market in St. Petersburg, Florida, SNAP recipients were able to use their Electronic Benefits Transfer cards for food. (Photo by Lance Cheung/USDA). It's hard to fathom in a proposal that includes billions upon billions of dollars in tax cuts for the wealthiest Americans, but one of the most significant changes included in the massive budget bill approved by the U.S. House late last month was this: big cuts to the nation's main anti-hunger program. Under the legislation, millions of people would lose SNAP food assistance benefits. Meanwhile, states would be saddled with 14 billion dollars in new costs. And the impacts will be felt in the stomachs of families across the nation. As Raleigh-area Congresswoman Deborah Ross explained last week, in her district – one of the state's more affluent ones – 20,000 of her adult constituents will lose all of their SNAP benefits. Statewide, a total of almost half a million people will lose benefits and the cuts will ripple through grocery stores and the economy as a whole. The bottom line: Rep. Ross is right. The Republican budget will cause irreparable harm to the people of our state. All caring and thinking North Carolinians should support her effort to push back. For NC Newsline, I'm Rob Schofield.
