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18 <br /> 1 can increase revenues from the commercial tax base and the longer before the county can set <br /> 2 itself on a healthy fiscal course. <br /> 3 <br /> 4 Before ANY economic development can occur, there must be a place for it to occur and the <br /> 5 space must meet the needs of investor funding the business' growth or expansion. With there <br /> 6 being a greater supply of sites and facilities than businesses demand, shovel-ready sites are <br /> 7 seen as a given, with certified sites becoming the norm, more and more. Therefore, the sooner <br /> 8 Orange County converts the unimproved land in the EDDs to certified sites, the sooner it will be <br /> 9 transformed into a revenue-producing asset. <br /> 10 <br /> 11 The needs of individual businesses starting up, expanding, and coming into the area vary <br /> 12 widely. To engage investors funding these start-ups, expansions, and relocations, local <br /> 13 governments must have the tools and flexibility to retain and recruit. Again, there are more <br /> 14 locations than sites and from a business point of view, economic development is a buyer's <br /> 15 market, especially in our region. <br /> 16 <br /> 17 Third, our region is home to some of the most innovative, progressive businesses and leaders <br /> 18 in the world. The State of North Carolina, the Research Triangle Regional Partnership, and <br /> 19 local universities offer a wealth of data, analysis, best practice, lessons learned, expert, and <br /> 20 creative knowledge—and the resources to take them from idea to implementation. <br /> 21 Accordingly, we recommend that the county systematically and regularly engage with this <br /> 22 readily available knowledge and expertise. <br /> 23 ' <br /> 24 The next few slides address specific actions Orange County should take to accelerate <br /> 25 this critical path towards prosperity and economic health. <br /> 26 <br /> 27 Places: <br /> 28 Shovel-and Business-Ready <br /> 29 •Available, Pre-Designated Land <br /> 30 —3 Economic Development Districts Totaling 2,450 Acres along the I-85 Corridor <br /> 31 <br /> 32 •Core Recommendation <br /> 33 —Commit the county to bringing water and wastewater infrastructure to the Buckhorn <br /> 34 and Eno EDDs <br /> 35 —Within a timeframe that establishes confidence with developers, investors and <br /> 36 business owners <br /> 37 <br /> 38 PLACES — Proximity to air and interstate transportation, proximity to a skilled work force, <br /> 39 proximity to university R&D centers, proximity to residential and cultural amenities are highly <br /> 40 prized assets that Orange County shares with our contiguous and regional counties, making <br /> 41 Orange County one of many possible locations for a business to start, grow, or locate to. <br /> 42 Moreover, Orange County is surrounded by an abundance of shovel-ready and certified sites <br /> 43 located outside of our borders, for Orange County's EDDs to be seen on part with available <br /> 44 sites in Alamance, Chatham, Durham, and Wake counties, Orange County must invest in <br /> 45 bringing water and wastewater infrastructure to the Buckhorn and Eno Economic Development <br /> 46 Districts (EDDs) within a timeframe that establishes confidence with developers investors and <br /> 47 business owners. The county cannot continue to expect developers to invest in basic <br /> 48 infrastructure when there are so many shovel-ready sites availabte with attractive proximities <br /> 49 and 90 days or fewer permitting processes. <br /> 50 <br />