Orange County NC Website
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no identified industrial parks. Orange Comity must provide the sites and buildings that are <br />in demand. Orange County has limited real estate product compared to nearby <br />counties. Furthermore, the available product does not have needed infrastructure and the <br />cost of development is higher. <br />High Cost of Living and Taxes <br />Orange County has significantly higher home prices, taxes, and general cost of living (see <br />Appendix). Not only will this result in higher property taxes for businesses, but workers <br />compensation requirements will be higher. <br />Regulatory Process <br />Orange County has a reputation for a long, unpredictable regulatory process. This often <br />discourages development by increasing entitlement risk (US General Services <br />Administration, 2008). While specific data on this barrier to development is not available, <br />multiple articles have referenced the slower process. <br />Orange County: Advantages <br />Orange County has numerous advantages that can be marketed and used to attract <br />desirable development. <br />University <br />The University of North Carolina at Chapel Hill is the center of Orange County. It is the <br />largest employer, and is a center of research and development. The University has created <br />a robust medical research sector. The Carolina Entrepreneurial Initiative boasts twenty <br />ventures started in 2008 and 27 patents issued to UNC faculty (CEI, 2009). <br />Workforce <br />Orange County boasts the highest level of working adults with a bachelor's degree, at <br />53.9%. While most of these workers work outside the county, the workforce can still be an <br />important draw to certain companies. Creating jobs within the county may, in and of itself, <br />draw many workers back to the county. Furthermore, job creation could lead to more <br />retention of UNC graduates. <br />In addition to Bachelor degreed workers, the Durham Technical Community College <br />satellite campus in Hillsborough offers training programs that can provide the skilled labor <br />necessary for many high tech industries. <br />Quality of Life <br />Orange County has a comparatively high tax rate. Median home prices are also significantly <br />higher. Yet, the majority of working residents work outside the county and chose to pay <br />these higher rates to live in Orange County. This statistic alone is an indication of the <br />quality of place and services within Orange County. Further analysis of quality of life has <br />been completed concurrently with this study. <br />