North Carolina JOBS Act of 2013 Enables Investment Crowdfunding

Contact: Andrew Johnstone

Murryla@ncleg.net

NEWS RELEASE

For Immediate Release- 4/10/13

North Carolina JOBS Act of 2013 Enables Investment Crowdfunding

Morrisville, NC - Representative Tom Murry, working with local business owners and investors, has filed legislation to help local small businesses raise capital through crowdfunding.

Start-up companies and small businesses play a critical role in creating new jobs and growing the economy. Crowdfunding, or raising money through small contributions from a large number of investors, allows smaller enterprises in North Carolinato have access to the capital they need to initiate new business ventures as well as to expand operations and hire additional staff.

Crowdfunding legislation is one part of Rep. Murry’s commitment to North Carolinasmall businesses and entrepreneurs. “I think this idea is long overdue. Crowdfunding received bipartisan support in Congress, and I expect it will get the same here in North Carolina. I’d like to thank my co-sponsors and look forward to seeing the Governor sign this into law this session,” said Rep. Murry.

“As an angel investor, I see this as the future of funding for all kinds of business startups and new products and services, not just technology business, but small business of many types” said local Morrisville investor Mark Easley.

By facilitating investment with appropriate disclosures to protect the interests of North Carolinainvestors, the General Assembly can promote the formation and growth of smaller businesses, allowing North Carolina residents to invest in North Carolinacompanies unencumbered by excessive government regulation.

"We have the opportunity to bring this powerful method of capital formation to North Carolina now, and to do so in a way which will put North Carolina ahead of the pack" said local entrepreneur Steve Reaser.

Click here to read the full text of the bill.

Kansas and Georgia have already passed similar investment crowdfunding exemptions.

Representative Tom Murry is serving his second term representing parts of Cary, Apex, Morrisville, and New Hill. Rep. Murry is Chair of the House Commerce and Job Development Committee. Rep. Murry was ranked as the “most effective freshman” in 2011 by the nonpartisan North Carolina Centerfor Public Policy Research. Tom and his wife Tamara live in Morrisville’s Breckenridge neighborhood and have two daughters. The Murrys attend College Park BaptistChurch in Cary.

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