Agenda - 04-12-2007-1 - Laserfiche WebLink

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ORANGE COUNTY BOARD OF COMMISSIONERS WORK SESSION AGENDA ITEM ABSTRACT Meeting Date: April 12, 2007 Action Agen~ Item No. SUBJECT: Economic Development Commission FY 2007-08 Goals Update DEPARTMENT: Economic Development PUBLIC HEARING: (YIN) No ATTACHMENT(S): INFORMATION CONTACT: A. Desirable Business Matrix B. Targeted Businesses for EDDs Dianne Reid, 245-2326 PURPOSE: To receive a report from the Economic Development Commission reviewing progress to date on the EDC's FY2007-08 Goals. BACKGROUND: The Orange County Economic Development Commission adopted its 2007- 08 goals in January 2007 and shared them with the Board of County Commissioners at a work session on February 12. One of the highest priorities was to reorganize the Orange County Small Business Loan Program Company; the BOCC approved the reorganization plan on March 13. Another was to secure approval for the feasibility study for the agricultural processing center; the contract was approved on March 3, pending securing the remaining funds. Other immediate goals were: 1) to identify target industries for the County's three economic development districts; 2) to expand broadband and cell coverage throughout the county; 3) to reorganize the Quality of Place Work Group; 4) to move forward Agricultural Service Enterprises and other planning changes to enhance opportunities for economic development in rural areas of the county; and 5) to continue the move to Central Permitting and a facilitated development process. The remainder of this report outlines progress toward these goals. Target Industries for the Economic Development Districts Attachment A shows the Desirable Business Matrix developed by the Business Climate Work Group during the past year. The first part of the matrix ranks the importance of potential criteria in determining the desirability of target businesses. The last section shows which of the ten industry clusters identified in the Research Triangle Regional Partnership's competitiveness plan, Staying on Top, could be appropriate in Orange County. It is the recommendation of the Business Climate Work Group that businesses meeting the criteria (particularly those ranked high) would be welcomed into our community, would receive expedited review, and would be eligible for any incentives that might be created at the local level. Attachment B gives more detail on the RTRP clusters, and makes a first cut at identifying target industries for the three Economic Development Districts.