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1 COUNTY Staff: Steve Brantley; TOWN Staff: Shannan Campbell <br /> 2 Steve Brantley, Orange County Economic Development Director, said Orange County <br /> 3 and Hillsborough were both involved in the various topics listed below. He said much of this <br /> 4 activity involved Article 46 taxes. He reviewed the following information: <br /> 5 <br /> 6 County/Town Updates (Strategies; Collaboration; Concerns; Questions) <br /> 7 Throughout 2015, Orange County and the Town of Hillsborough have benefited from a number <br /> 8 of successful economic development initiatives which supported the growth and retention of <br /> 9 area small businesses, the promotion of agriculture, arts & tourism, an increase in business <br /> 10 recruitment & investment prospect activity, and greater mutual collaboration between the <br /> 11 County's & Town's economic development partners in government and the Chamber of <br /> 12 Commerce. A significant portion of this effort has been funded from the 2011 referendum that <br /> 13 created the 1/4 cent sales tax proceeds to benefit economic development and education, called <br /> 14 "Article 46" funding. Examples are as follows: <br /> 15 <br /> 16 Financial Assistance Provided to Small Businesses in Hillsborough <br /> 17 Since the creation of the Orange County Small Business Loan Program several years ago, up <br /> 18 until the current period, Hillsborough small businesses have received approximately $500,000 <br /> 19 in total loans to retain and support their growth. This lending activity within the Town represents <br /> 20 almost 80% of all loans approved Countywide for small business borrowers. Recent loan <br /> 21 activity includes the following Hillsborough firms: <br /> 22 o MasterPeace Barber Shop - home-based barber shop <br /> 23 o Accidental Baker- gourmet cracker food processing <br /> 24 o Beau Catering - upscale special events catering <br /> 25 o Bacon Meat Market - deli &fresh local meat market (opening soon) <br /> 26 o Seal The Season — Piedmont Food & Agricultural Processing Center <br /> 27 o tenant (frozen blueberries & vegetables) <br /> 28 o Mystery Brewery & Tap Room - microbrewery & retail store <br /> 29 <br /> 30 • The Article 46-funded Orange County Small Business Investment Grant Program began <br /> 31 to make operational business grants of up to $10,000 per applicant in 2015. County- <br /> 32 wide, the new grant program awarded $245,840 to 39 total growing firms. Of this <br /> 33 amount, a total of nine (9) Hillsborough small businesses received $65,352 in total grant <br /> 34 support, which was 26.5% of all small business grants made last year. Those firms are <br /> 35 as follows: <br /> 36 o 360 Degree Health - health care provider <br /> 37 o Kyookz - food processing <br /> 38 o Music Maker Relief Foundation - nonprofit <br /> 39 o Q Garden - retail store <br /> 40 o MasterPeace Barber Shop - home-based barber shop <br /> 41 o Regulator Brewing Company - microbrewery <br /> 42 o Seal The Season - Piedmont Food & Agricultural Processing Center <br /> 43 o tenant (frozen blueberries & vegetables) <br /> 44 o Accidental Baker- gourmet cracker food processing <br /> 45 o Beau Catering - upscale special events catering <br /> 46 <br /> 47 • Also in 2015, the Orange County Agriculture Economic Development Grant Program <br /> 48 provided a total of 20 awards exceeding $157,178 for area farms and related agricultural <br /> 49 food systems businesses. Approximately eight (8) of those recipients have a <br /> 50 Hillsborough mailing address and received 60% of all agricultural grants County-wide. <br />