Elections

Republican Dale Folwell next NC Treasurer

Dale Folwell
Dale Folwell AP

Republican Dale Folwell is North Carolina’s next treasurer, defeating Democrat Dan Blue III.

“It tells me that the people of North Carolina understand the magnitude of the challenges we’re facing,” Folwell said Tuesday evening. He added: “Four years from now, we’re going to be talking about results.”

“It looks like the lead Dale has is too much for me to come back on,” Blue said. “I just got off the phone conceding the loss.”

“I think,” Blue said of the outcome, “that the Trump dynamic was more than we had predicted.”

 

The incumbent

Treasurer Janet Cowell, a Democrat, did not seek a third term.

The candidates

Blue is an attorney and former investment banker. He is the son of Dan Blue Jr., the state’s first African-American House speaker and current state minority leader. Folwell, a certified public accountant, is a former state House Speaker pro-tem and former head of the state Division of Employment Security.

About the office

The treasurer manages the $90 billion state pension fund and the state health plan.

What shaped the race

Blue pointed to his high finance and legal background and promoted proposals to cut costs in the $3 billion state health plan, including a focus on preventive medicine. Folwell touted his CPA credentials and his experience as a reformer in state government and promised to reduce the fees the pension plan pays to outside money managers by $100 million.

A legislative proposal that would have permitted Robeson County to apply state funds saved from school staff reductions on lease payments for new schools became an issue. Folwell opposed the plan and criticized Blue for taking campaign money from Robeson County businessmen pushing the measure. Blue countered he wouldn’t be influenced by campaign contributions and said that although he wanted to help local government find ways to build schools, he wasn’t committed to any particular approach.

Results

Dan Blue III, D 46.67%

Dale Folwell, R 53.33%

2,531 of 2,704 precincts reporting.

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