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changes regarding how Article 46 is administered, such as defining the primary <br />expenditure categories or overall objective may require the Board Commissioners to <br />modify the existing Resolution. <br />Attachments A and C provide a summary table, pie chart and current balances of the key <br />sectors where Article 46 funds are used for economic development in Orange County. <br />Assuming an annual $1.25 million receipt in sales tax proceeds, the Article 46 program <br />and the Orange County Board of Commissioners' adopted Resolution identify seven (7) <br />main economic development expenditures, as follows: <br />Key <br />Sector <br />% of Total <br />$ Annually <br />• <br />Debt service on water, sewer & associated <br />60% <br />$750,000 <br />Infrastructure made in Orange County's three <br />(3) Economic Development Districts <br />(Eno, Hillsborough and Buckhorn) <br />• <br />Orange County's Small Business Loan Fund <br />16% <br />$200,000 <br />• <br />Entrepreneurial & Incubator Support <br />8% <br />$100,000 <br />• <br />Business Investment Grants <br />8% <br />$100,000 <br />• <br />Agriculture Investment Grants <br />5% <br />$60,000 <br />• <br />Marketing & Collaborative Outreach <br />1.5% <br />$20,000 <br />• <br />Advertising, Publishing & Collateral Materials <br />1.5% <br />$20,000 <br />100% $1,250,000 <br />Debt Service on Utilities - 60% of annual expenditures ($750.000 <br />Funding to cover debt service on utilities, as currently being installed in the Buckhorn <br />Economic Development District, was immediately put to use, and has already yielded a <br />significant economic development "win" for Orange County. This $4 million project, <br />initiated in late 2012, created a `backbone' sewer and water system to service or augment <br />over 1,000 acres of economic development lands, stretching from the Cheeks and Efland <br />areas westward toward the City of Mebane. This project included 2 miles of gravity sewer <br />(18" gravity in western zone and 12" gravity in eastern zone) and 3 miles of 16" water <br />system. Besides adding to the inventory of additional utility serviceable acres, the 16" <br />water system created a large loop to increase pressures, water capacity and fire flow to <br />many existing industrial businesses in Orange County's western economic development <br />zone. Other Capital Investment Plan (CIP) projects are underway to improve the <br />availability and reach of present utilities in designated economic development land use <br />areas. <br />The ability to have the County's western sewer system under construction enabled the <br />Morinaga project to consider its present location and select an area in Orange County for <br />the firm's new North America operation. In September 2013 the company announced the <br />creation of nearly 100 new manufacturing jobs, and an initial investment of $48 million. A <br />future plant expansion of similar size is anticipated in future years. With this new, clean <br />industry, Morinaga America Foods, Inc. became Orange County largest corporate taxpayer <br />(not counting the electric power utilities), and the County and City of Mebane formed an <br />even closer relationship. <br />