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ORANGE COUNTY <br />BOARD OF COMMISSIONERS <br />WORK SESSION AGENDA ITEM ABSTRACT <br />Meeting Date: February 12, 2006 <br />Action Agenda <br />Item No. CIZ <br />SUBJECT: Economic Development Commission 2007-08 Goals Update <br />DEPARTMENT: Economic Development PUBLIC HEARING: (Y/N) No <br />ATTACHMENT(S): INFORMATION CONTACT: <br />A. EDC 2007-08 Priorities Dianne Reid, 245-2326 <br />B. 2007-08 Goals and Tasks Table <br />PURPOSE: To update the Board on the recently adopted goals of the Economic Development <br />Commission for the upcoming fiscal year. <br />BACKGROUND: In late Fall 2006, the Economic Development Director met individually with <br />members of the Economic Development Commission and collectively with staff to discuss what <br />each would like to see the Commission accomplish in 2007-08. Each strategic plan work group <br />met to develop its proposed goals as well. All ideas were presented to the EDC Board at its <br />December meeting. In January, the EDC .prioritized the goals and is currently seeking BOCC <br />support for the plan of work. <br />The mission of the Orange County Economic Development Commission (EDC) is: <br />...to make Orange -County a smart, innovative place — a great place in which to <br />live and work. We encourage public-private investments to provide jobs for <br />county residents and to increase the non-residential tax base. Through these <br />investments, we enhance the financial well-being and quality of life of county <br />residents, and the ability of their local governments to provide high-quality <br />services. <br />The Economic Development Commission's Five-Year Strategic Plan, Investing in Innovation, <br />has an overall goal to create 5,000 new private sector job ' s in Orange County and add <br />$125,000,000 in new commercial property by June 2010. There are four work groups actively <br />pursuing the overall goal. Attachment A details the adopted priorities of the Economic <br />Development Commission for the fiscal year ahead. The priorities include the specific goals <br />and objectives for: <br />• the four work groups; <br />• research; <br />• business retention and development; <br />• benchmarking success; <br />• EDC Board development; and <br />