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Table of Contents <br />Introduction ................................................................ ............................... 1 <br />Summary of Recommendations ......................................................................... ..............................1 <br />The EDC's Research Rationale and Key Data Sources .................................... ..............................1 <br />The Orange County Paradox ......................................... ............................... 2 <br />Facing Our Challenges .................................................. ..............................4 <br />Current Trends in Business Needs ............................... ............................... 5 <br />Entrepreneur and Small Business Needs .......................................................... ..............................6 <br />Supporting Access to Capital ............................................................................. ..............................7 <br />Lowering Site Selection Risk ............................................................................. ..............................7 <br />The Role of Incentives in Economic Development ............................................ ..............................9 <br />Meeting Business Needs: A Look at State and Regional Economic <br />Development ................................................................ ............................... <br />9 <br />StatePriorities .................................................................................................... ..............................9 <br />Orange County and the RTRP Advantage ........................................................ .............................10 <br />The Four Pillars of Regional Economic Competitiveness ................................. .............................11 <br />Understanding Industry Clusters and the Opportunities for Orange Countyii <br />Green Economy Business Growth ............... ................ -- .............. ......................................... :...... <br />11 <br />E- Learning, Digital Gaming, and Training Innovation ....................................... .............................12 <br />Reality Check (Regional Population and Job Growth) ...................................... .............................12 <br />Leveraging Opportunity: The Role of Local Government in Economic <br />Development .............................................................. ............................... <br />12 <br />County -Level Economic Development Best Practices Detail .......................15 <br />AlamanceCounty .............................................................................................. .............................15 <br />ChathamCounty ............................................................................................... .............................16 <br />DurhamCounty ................................................................................................. .............................16 <br />WakeCounty ..................................................................................................... .............................17 <br />Adapting Accepted Practices and a Data - Driven Programmatic Approach to <br />Economic Development ............................................... .............................18 <br />The First Leg: Infrastructure .............................................................................. .............................18 <br />The Second Leg: Economic Development Toolkit Tailored to Current Market Conditions ..........19 <br />The Third Leg: Current Data, Analysis, and Knowledge ................................. ............................... <br />20 <br />Conclusion ................................................................. ............................... <br />20 <br />Appendix I. Research Scope Requested of UNC DCRP Interns ................... 22 <br />Appendix IL The Role of Research Universities in Industry Cluster <br />Development .............................................................. ............................... 24 <br />Appendix III. Comparative Funding of County Economic Development .... 25 <br />ilPage <br />