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• <br />* vacancy rates in Orange County have improved significantly <br />despite the national recession <br />* The county's three largest multi - business buildings, the <br />Europa Center, Carr Mill Mall and the Hillsborough Business <br />Center have all filled up in the past 2 years absorbing over <br />300,000 sq. ft. <br />* Although the EDC operating budget has remained the same for 3 <br />years the county's commitment to Economic Development has <br />increased through contributions to SBTDC, the visitor's Bureau <br />and the Sewer Bottleneck. SBTDC and the Bottleneck are already <br />producing results. <br />* Several major efforts are currently underway which will <br />prepare the county for planned growth in the future. <br />I hope this information meets your needs. I recognize <br />that some citizens are unbelievers in the county's recent <br />success in Economic Development or do not believe a good <br />business climate exists. The numbers do not support their <br />criticism. Our unemployment rate remains the lowest in the <br />state. Our average wage is fifth among the 100 counties, and <br />wage growth has been in the top ten counties over the past <br />decade. Home sales, starts and value are near the top among <br />the counties. Rental rates for commercial property are <br />to other urban areas and our downtown vacancy <br />comparable all <br />rates are very low. Although we do no advertising the EDC <br />continues to get about 20 new clients each month and currently <br />have 150 active clients. <br />The EDC would welcome in ideas on ways to get this message <br />to the citizens. I have proposed some ideas. <br />[7 <br />