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19 <br /> 1 Tools: <br /> 2 Time, Expense Reduction, Predictability <br /> 3 <br /> 4 •Time and Predictability <br /> 5 <br /> 6 •Capitalize a $250,000 business recruitment and retention fund <br /> 7 <br /> 8 •Re-capitalize the small business loan fund with 250 000 <br /> 9 <br /> 10 •Identify dedicated fundina source for recurrina annual investments in the local economic <br /> 11 development tool kit. <br /> 12 <br /> 13 •Adopt a Unified Development Ordinance <br /> 14 •Within a timeframe that establishes confidence with developers, investors, and <br /> 15 business owners <br /> 16 •results in less time from application to permit approval in a time-frame that is <br /> 17 comparable with neighboring jurisdictions <br /> 18 <br /> 19 Unfortunately, it takes more effort and resources to overcome a negative reputation than to <br /> 20 build up an unknown or neutral reputation. After years of charting our own course counter to <br /> 21 industry standards, Orange County's unwanted, but not undeserved, business-unfriendly <br /> 22 reputation is formidable BUT it can be overcome with decisive, speedy, highly-visible, direct <br /> 23 investment into the three things that any business requires, regardless of industry, size, or <br /> 24 scale requirements. These three things are time, reduced expenses, and predictability. The <br /> 25 tools that can deliver these and which are under the control of local governments are clear: <br /> 26 consistent regulations facilitating streamlined permitting and fund allocation, small business <br /> 27 loan funds, recruitment and retention funds for established businesses, and a long-term reliable <br /> 28 funding source dedicated to endowing these finro funds on an annuat basis. <br /> 29 <br /> 30 Knowledge: <br /> 31 Current Data, Expert Analysis, Best Practices <br /> 32 •Increase collaboration and engagement with the Research Trianple Reqional Partnership <br /> 33 <br /> 34 •Invest in value-adding economic development-related research performed by UNC, NC <br /> 35 State, Duke, NC Biotechnology Center <br /> 36 <br /> 37 •Enter into a one-year research contract with economic devefopment specialists at UNC-Chapel <br /> 38 Hill in 2010, with annual follow-on data acquisition, analvsis and stratepic planninp <br /> 39 research contracts each year through FY 2016 <br /> 40 <br /> 41 One of Orange County's least-recognized assets is being in the heart of a region that is in the <br /> 42 planet's top 3, 5, and 10 in 11 major industry clusters and even more sub-clusters. Another <br /> 43 under-utilized asset is our proximity to RTRP, RTP, and UNC; organizations comprised of some <br /> 44 of the world's most successful, innovative, and cutting edge leaders whose expertise is based <br /> 45 on data, analysis, and experience. Whereas the state of North Carolina and many of its <br /> 46 counties have taken advantage of RTRP's, RTP's, and UNC's world-class economic <br /> 47 development expertise, Orange County has not. As a result, policy makers have not had <br /> 48 consistent and thorough access to key data and metrics nor have we utilized benchmarks to <br /> 49 monitor results or studied best practices to inform our policies. None of this data collection or <br />