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21 <br /> 1 - Annual measure of residential/non-residential tax ration <br /> 2 - Total value of private capital invested in Orange County <br /> 3 - Total number of private sectorjobs created <br /> 4 - Number of private sector jobs by Orange County socio-economic strata <br /> 5 <br /> 6 <br /> 7 Investment Commitment <br /> 8 FY 2010—2011 Economic Development Department <br /> 9 The EDC shares the goal of increasing the County's non-residential tax base. As such, we <br /> 10 unshakably believe that the County must commit to investing in economic development not as a <br /> 11 single year but as an ongoing permanent investment. To assist the BOCC in implementing <br /> 12 specific, measurable, attainable, and realistic actions in a timely manner, the EDC is <br /> 13 requesting line item budget allocations in the upcoming year's budget. In addition, we have <br /> 14 provided a six-year estimate to help the BOCC and County Manager anticipate and ptan for the <br /> 15 general investment levels that will be required moving forward. <br /> 16 <br /> 17 FY 10-11 Budget: <br /> 18 Economic Development Department <br /> 19 •$500,000 request for economic development tools over and above last year's funding of$0 in <br /> 20 this category. <br /> 21 •$25,000 request for economic development research over and above last year's funding of 0$ <br /> 22 in this category. <br /> 23 ' <br /> 24 Over the past 12 months, Orange County's $75,000 small business fund was sufficient to '� <br /> 25 support two local businesses: Santosa, a local commercial cleaning service company and PhD, <br /> 26 I <br /> a ocal recreational flying disc company that the Economic Development Department was able <br /> 27 to leverage into international recognition by MSNBC. However, the funds are fully allocated, <br /> 28 with numerous local businesses eager to participate whenever additional funding becomes <br /> 29 available. Based on this history as well as the experience of small business funds available in <br /> 30 Durham and Chatham counties, we recommend Orange County's small business fund be <br /> 31 recapitalized. However, Orange County also needs a retention and recruitment fund designed <br /> 32 to meet the needs of established local businesses who are expanding or incoming businesses <br /> 33 who want to locate here and who likely will end up employing county residents or whose <br /> 34 managers/executives will call Orange County home. Equally important, these funds must be <br /> 35 administered with flexibility without lengthy, complex, or onerous procedures. Lastly, quality <br /> 36 research capable of supporting cluster, R&D, gap, or revenue stream analyses requires both <br /> 37 faculty and student involvement. Unlike this past year's student papers, which was pro bono <br /> 38 and involved limited scope and time investment, cluster/R&D/gap/and funding stream analysis <br /> 39 substantive research effort is provided only on a fee basis ranging from $25,000 to $250,000 or <br /> 40 more. <br /> 41 <br /> 42 The total financial impact of this investment is <0.04% of the total county budget for FY 2010- <br /> 43 2011. <br /> 44 <br /> 45 Although Streamlined Permitting and the UDO are under the auspices of the Planning <br /> 46 Department, the EDC views it as a critical path requirement for economic development, thus we <br /> 47 recommend that the county invest staffing and resources necessary to achieve these in a <br /> 48 timeframe that inspires confidence and trust among investors, site selection decision-makers, <br /> 49 and the development community. Secondly, while extending full water/wastewater <br /> 50 infrastructure into Buckhorn and Eno EDDs and satisfying all criteria required for NC <br />