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LICE <br />lm achmeo-+ -I- <br />3 <br />Action Agenda Item Abstract <br />Meeting Date: <br />18 May 2010 <br />Subject: <br />Approval oflnvesting in Our Future, the Economic Development Commissions' Recommended Six -Year <br />Implementation Strategy <br />Department: <br />Economic Development <br />Public Hearing: <br />N <br />Attachment(s): <br />(a) Investing in Our Future: Strategic Recommendations: Places, Tools, and Knowledge, Orange County <br />Economic Development Commission Estimated Financial Impact: Fiscal Years 2010/2011— 201512016 <br />and Budget Request: Fiscal Year 201012011 <br />(b) Letter from the Chair, Orange County Economic Development Commission <br />(c) Private Investment, Jobs, and Wealth Creation: An Overview ofEconornic Development Strategies, Best <br />Practices, and Activity Driving Orange County Economic Development Outcomes <br />a. Introduction <br />i. Summary of Recommendations <br />ii. The EDC's Research Rationale and Key Data Sources <br />b. The Orange County Paradox <br />c. Facing Our Challenges <br />d Current Trends in Business Needs <br />L Entrepreneur and Small Business Needs <br />ii. Supporting Access to Capital <br />iii. Lowering Site Selection Risk <br />J v. The Role oflncentives in Economic Development <br />e. Meeting Business Needs: A Look at State and Regional Economic Development <br />L State Priorities <br />ii. Orange County and the RTRP Advantage <br />in. The Four Pillars of Regional Economic Competitiveness <br />f. Understanding htdushy Clusters and the Opportunities for Orange County <br />i. Green Economy Business Growth <br />ii. E- Learning, Digital Gaining, and Traininglmovation <br />iii. Reality Check (Regional Population and Job Growth) <br />g. Leveraging Opportunity: The Role of Local Government in Economic Development <br />h. County-Level Economic Development Best Practices Detail <br />I. Alanrance County <br />ii. Chatham County <br />iii. Durham County <br />iv. ii'ake County <br />i. Adapting Accepted Practices and a Data - Driven Programmatic Approach to Economic <br />Development <br />i. The First Leg: Infrastructure <br />ii. The Second Leg: Economic Development Toolkit Tailored to Current Market Conditions <br />iii. The Third Leg: Current Data, Analysis, and Knowledge <br />j. Conclusion <br />PO Box 1177 • Hillsborough, NC 27278 <br />(919) 245 -2325 . FAX: (919) 644 -3008 <br />EMAIL: edcmaH0co.orange.nc.us • WEB ADDRESS: w"v.co.oranpe.nc.vs/ecodev <br />