RALEIGH – For the third time this year, the State Budget Office has revised revenue figures upward above May projections by $95 million.

According to state officials, the state is projecting a final revenue surplus of $425 million, mainly driven by more people working and earning more money.

“North Carolina has posted record revenue surpluses driven by strong economic growth, job creation and responsible financial management,” said Governor Pat McCrory in a press release. “At a time when neighboring states are revealing steep revenue deficits, North Carolina’s economy is firing on all cylinders.”

The state's strong economy continues to receive national recognition. North Carolina improved to the No. 5 Top State for Business by CNBC, up from No. 9 last year. Access to capital, workforce quality, and technology and innovation contributed to improving this year's ranking.