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ORANGE COUNTY <br />BOARD OF COMMISSIONERS <br />1 <br />ACTION AGENDA ITEM ABSTRACT <br />Meeting Date: December 6, 2010 <br />Action Agenda <br />Item No. "~ - e <br />SUBJECT: Potential Framework To Support Future Business Investment and Job Creation <br />DEPARTMENT: Economic Development <br />County Manager <br />PUBLIC HEARING: (Y/N) No <br />ATTACHMENT(S): <br />1) Summary of Select Incentive Policies <br />2) Analyzing the Benefits and Costs of <br />Economic Development Projects - <br />April 2010 UNC School of <br />Government Community and <br />Economic Development Bulletin <br />INFORMATION CONTACT: <br />Dottie Schmitt, Economic Development, <br />245-2325 <br />Willie Best, Assistant County Manager, <br />245-2308 <br />Frank Clifton, County Manager, 245- <br />2306 <br />PURPOSE: To discuss a potential framework to encourage and support the expansion of <br />existing businesses and the location of new businesses within Orange County. <br />BACKGROUND: For several years, local governments have been actively encouraging the <br />expansion of existing businesses and the location of new businesses within their jurisdictions. <br />While these efforts have utilized numerous tools, the primary frameworks to encourage <br />business development have focused on potential benefits available to businesses based on 1) <br />capital investments leading to an enhanced tax base; and 2) jobs created for local residents. <br />Orange County has not previously pursued such a framework in its economic development <br />program. <br />Recent developments both within the County and outside indicate that now would be an <br />opportune time for the Board of Commissioners to discuss additional tools for Orange County's <br />business development efforts. An investment program could allow the County to establish <br />specific parameters for financial benefits to expanding existing businesses as well as new <br />businesses based on capital investments and the creation of new jobs for Orange County <br />residents. Having such a program in place would add a measure of certainty as businesses <br />look at Orange County for relocation and expansion projects. <br />Provided at Attachment 1 are examples of frameworks/policies/programs from other local <br />governments to support business investment and job creation in their jurisdictions. These <br />examples are provided as a springboard for Board discussion on a potential framework for <br />Orange County. Staff is not making a recommendation regarding a framework other than to <br />