Agenda - 05-18-2010 - 8b - Laserfiche WebLink

Browse Search

• Business /industrial use designation Phase I enviromnent audits Geo- technical studies Topographical analysis and maps • Aerial photography • Availability of public utilities Water system extension engineering design • Sewer system extension engineering design Industrial quality infrastructure • Engineered site development plans Detailed analysis of development cost Complete information on pricing Boundary survey Wetlands delineation map Archeological findings Rare /endangered plant and/or animal report • 100 year flood evaluations UDOs have been established in every municipality in the county as well as at the county level. In addition, almost, if not every municipality implements defined incentive policies, many of which are based on that adopted by Wake County. It was to Cary that Orange County lost an opportunity in which a knowledge company headquarters employing more than 80 highly skilled white collar workers with salaries of $75,000+ because Cary was willing to match state incentives at a cost of less than $100,000 to the city. Adapting Accepted Practices and a Data - Driven Programmatic Approach to Economic Development We recommend that the Board of County Commissioners adopt a data - driven programmatic approach. We believe when our recommendations are endorsed and fully funded, in their entirety, Orange County will begin change its mix of commercial and residential property tax revenues by encouraging local business necessary for community health while also attracting established business capable of employing residents who now must leave the county to work. Providing financial and personnel resources in the sequence and timeline identified by the EDC will encourage both public and private investment, tax revenue, and jobs to Orange County residents. Failing to enact these recommendations will prevent Orange County from meeting its economic development objectives and make the resulting public financing climate even more challenging in the upcoming decade. The First Leg: Infrastructure We believe any step taken without the funding and completion of water and sewer infrastructure to the Buckhorn and Eno economic development districts will continue to eliminate Orange County from consideration by the majority of site selection specialists and business owners looking to expand or relocate. Recalling RTRP's 2009 banner year, Orange County's lack of cost-competitive commercial real estate product is one reason why it failed to increase private investment and jobs. Orange County has several hundred thousand square feet of Class A office space, but its price point ($30 - $32 /sq. ft.) significantly exceeds the $18 - $25 /sq. ft pricing found in neighboring counties. In addition, the lack of Class B office space and wet lab space further hampers business establishment and expansion within the county. Although Orange County price points tend to be accepted by businesses such as wealth management firms or high -end restaurants, they are too high for incoming domestic and European companies already looking for Triangle locations. Ironically, it is Orange County where executives and many employees of these incoming companies choose to live, but its lack of cost - competitive site stock places the County at disadvantage. Orange County's lack of business -ready physical infrastructure is a dramatic disadvantage towards achieving any sizable growth in its commercial tax base. We applaud the efforts of the BOCC in supporting the drafting of engineering plans for the Buckhorn EDD and strongly urge that the BOCC provide the resources necessary to complete certification by the 181Page