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OVERVIEW lob Capital <br />In 2008, the Research Triangle Regional Partnership creation Investment <br />(RTRP) welcomed more than $1.2 billion in capital 104 $142,000,000 <br />investment from new and expanding firms, adding 6,535 Chatham 1,310 $762,000,000 <br />new jobs.' The majority of that investment was centered orange o $0 <br />within The Triangle itself— Durham and Wake added wake 4 0 $165,000,000 <br />$762 million and $165 million respectively. <br />RTRP 6,535 $1,204,000,000 <br />Orange County announced no new jobs or investment Figure 1: Announcements, 2008 <br />that year. <br />As of August 2009, Durham and Wake counties had each announced the addition of more than <br />$2o million in investment and 400 jobs. Orange County had announced $2 million in <br />investment and twelve jobs. <br />The numbers speak for themselves: Orange County is not keeping pace with its neighbors. <br />This report will explore what can be done to improve economic development outcomes in <br />Orange County. It begins with an exploration of how the economic development function is <br />structured and funded in counties across the Research Triangle Region, looking at the <br />advantages and disadvantages of public and private organizations. it then explores how change <br />could be approached in Orange County. <br />It concludes with one primary recommendation: if Orange Count's Board of Commissioners <br />are serious about economic development, financial resources should be made available to <br />support the creation of a comprehensive, policy- driven economic development strategic plan. <br />if the level of commitment is not sufficient to support the investment in a strategic plan, I <br />recommend the Board assess the feasibility of transitioning economic development <br />responsibilities to a private entity such as the Chapel Hill - Carrboro Chamber of commerce. <br />GURRENTSTATE <br />The Orange County Economic Development Commission ( OCEDC) operates somewhat <br />autonomously from county government. The OCEDC's Economic Development Advisory Board <br />provides support and direction for the EDC, while the County Board of Com <br />ti cal level, this <br />determines overall economic development priorities and funding. From a p <br />structure creates a challenge for the OCEDC staff as it tries to set organizational goals and <br />mmissioners to <br />ems to <br />priorities. The Economic Development Advisory Board looks o be waiting for the Board o r the Advisory <br />f Co <br />state its priorities, while the Board of Commissioners se <br />Board to give them direction. The end result of this is the limited effectiveness of the OCEDC as <br />1 "August 2009 County Profiles," North Carolina <br />t commerce Economic <br />Development intelligence System. https: // <br />1 <br />