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nl 1', e <br />SA. <br />Financial Impoet <br />The total financial impact of these investments affects not only the Economic Development Department's <br />budget, but also the Planning Department's budget and the County's Capital Budget. Also, to achieve <br />long -term sustained success, investments beyond FY 2010 -2011 will be required for each of these <br />recommendations. <br />• The EDC recommends that an additional $525,000 be invested in economic development functions in <br />FY 2010 -2011 over and above last year's funding. (Figure 1). <br />• The EDC estimates that over a six -year period' the entire investment in research, strategic planning, <br />and a robust economic development tool kit will be approximately $2,200,000, excluding the cost of <br />bringing water and wastewater treatment capacity to the Buckhonr and Eno EDDs. (Figure 2). <br />C'onelrrsiorl <br />With these investments Orange County will begin to respond effectively, compete successfully, and <br />compare favorably within our region for engaging economic development opportunities. We will be <br />rewarded with more commercial property tax revenues, more local jobs, and more locally-owned <br />businesses. <br />Without these investments, Orange County will continue to rank in the low - bottom tier in private <br />commercial investment and job creation among the 13- county Research Triangle Regional Partnership <br />region and the lowest in private commercial investment and job creation as compared to the four <br />surrounding counties of Alamance, Chatham, Durham, and Wake. <br />' The six -year period was chosen to approximate how long it will take to get 100% water and wastewater treatment capacity to <br />both the Buckhom and Eno EDDs. <br />4 1 Page <br />