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ORANGE COUNTY <br />Economic Development <br />Commission <br />Action Azenda Item Abstract <br />Meetinr Date• <br />18 May 2010 <br />Subiect: <br />Approval of Investing in Our Future, the Economic Development Commissions' Recommended Six-Year <br />Implementation Strategy <br />Department: <br />Economic Development <br />Public HearinjZ: <br />N <br />Attachment(0: <br />(a) Investing in Our Future: Strategic Recommendations: Places, Tools, and Knowledge, Orange County <br />Economic Development Commission Estimated Financial Impact: Fiscal Years 2010/2011— 201512016 <br />and Budget Request. Fiscal Year 201012011 <br />(b) Letter from the Chair, Orange County Economic Development Commission <br />(c) Private Investment, Jobs, and Wealth Creation: An Overview of Economic Development Strategies, Best <br />Practices, and Activity Driving Orange County Economic Development Outcomes <br />a. Introduction <br />i. Summary of Recommendations <br />ii. The EDC's Research Rationale and Key Data Sources <br />b. The Orange County Paradox <br />c. Facing Our Challenges <br />d Current Trends in Business Needs <br />i. Entrepreneur and Small Business Needs <br />ii. Supporting Access to Capital <br />iii. Lowering Site Selection Risk <br />iv. The Role of Incentives in Economic Development <br />e. Meeting Business Needs: A Look at State and Regional Economic Development <br />i. State Priorities <br />ii. Orange County and the RTRP Advantage <br />iii. The Four Pillars of Regional Economic Competitiveness <br />f. Understanding Industry Clusters and the Opportunities for Orange County <br />i. Green Economy Business Growth <br />ii. E- Learning Digital Gaming, and Training Innovation <br />iii. .Reality Check (Regional Population and Job Growth) <br />g. Leveraging Opportunity: The Role of Local Government in Economic Development <br />h. County-Level Economic Development Best Practices Detail <br />i. Alamance County <br />ii. Chatham County <br />iii. Durham County <br />iv. Wake County <br />i. Adapting Accepted Practices and a Data - Driven Programmatic Approach to Economic <br />Development <br />i. The First Leg: Infrastructure <br />ii. The Second Leg: Economic Development Toolkit Tailored to Current Market Conditions <br />iii. The Third Leg: Current Data, Analysis, and Knowledge <br />j. Conclusion <br />PO Box 1177 a Hillsborough, NC 27278 <br />(919) 245 -2325 . FAX: (919) 644 -3008 <br />EMAIL: edanail(aco.oranae.nc.us • WEB ADDRESS: www.co.orange.nc.us /ecodev <br />5 <br />