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Agenda - 05-18-2010 - 8b
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Agenda - 05-18-2010 - 8b
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11/3/2015 9:08:50 AM
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5/14/2010 4:02:24 PM
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BOCC
Date
5/18/2010
Meeting Type
Regular Meeting
Document Type
Agenda
Agenda Item
8b
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Minutes 05-18-2010
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\Board of County Commissioners\Minutes - Approved\2010's\2010
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economy jobs between 2006 and 200720. Supported by the North Carolina Department of Commerce, the <br />state is positioned to benefit from these green initiatives. Moreover, opportunities in promoting green - <br />related economic development abound for Orange County. In addition to a growing solar energy sector, <br />RTP is home to numerous companies — ranging from large and small; global to local— engaged in green <br />enterprise, embracing green practices via LEED certification or other environment- friendly initiatives, <br />and /or implementing green- related policies. Many of these companies are at the forefront of innovation <br />and change. In addition, because pharmaceutical, nutraceutical, and biotechnology companies tend to be <br />earl), adopters of energy conservation and renewable energy policies21, the region's established life <br />sciences cluster combined with the emerging clean/green technologies cluster represent significant <br />economic development opportunity for jurisdictions attuned to the needs of these sectors' constituent <br />businesses. <br />E- Learning, Digital Gaming, and Training Innovation <br />Harnessing additional job - creation and business - growth opportunities associated with new technologies <br />and techniques in digital games and learning environments useful in a wide spectrum of adult education <br />and training. <br />The Digital Economy <br />RTP is home to several leading R &D centers in digital gaining, including N.C. State University's Digital <br />Games Research Center, Wake Technical Community College's Simulation and Game Development Lab, <br />and UNC's Department of Computer Science's Graphics and Analysis Research. As a result, RTP is <br />home to 30+ gaming - related companies, which account for 1000+ jobs, where average salaries exceed <br />$80K. Federal funding for R &D in this arena is available via the National Science Foundation and the <br />Departments of Defense, Energy, and Education, particularly in the areas of artificial intelligence, <br />gaming, graphics and visualization, and education teclnology22. Although Wake County has taken the <br />lead on marketing the region as a top national player, Orange County has the opportunity to retain start- <br />ups emanating from UNC with the potential of generating strong growth and revenue. <br />Reality Check (Regional Population and Job Growth) <br />Reality Check encompasses expectations that the region will need to acconnnodate more than I million <br />people and 700,000 additional jobs over the next 20 years. <br />Managing Residential Growth <br />Orange County has nurtured the development of many quality of life factors that attract residents. In <br />addition, with the Orange County Visitors Bureau expanding an already successful marketing program to <br />reach a wider audience, it is likely that more will take up residence in the County. If current patterns <br />persist, Orange Count}, could see the volume of rural residents grow significantly, placing even greater <br />burden on County first responder and school systems. Without increased economic development and <br />associated increases in the commercial tax base, Orange County's commuter rates will increase, as well as <br />the associated impacts, and, so will our ever - increasing reliance on residential property taxes. <br />Leveraging Opportunity: The Role ofLocal Government in Economic Development <br />Both public and private sectors acknowledge that local governments have a role to play in economic <br />development and the manner and extent of that role significantly impacts private investment decisions. As <br />articulated in the North Carolina Economic Developers Associated Economic Development Handbook, <br />the role of local government is summarized as follows: <br />20hfo /hA rn mmer comten1Pr R IPr R lea 1 6152009PeaepQdShowsN CaLeadednGreeoEconomyhtm <br />2' Trade and Industry Development, January/February 2010 <br />22 Extension Operations Council Meeting Minutes, October 10, 2007 <br />121Page <br />
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