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3 <br /> ARTICLE 46 <br /> Overview of Orange County's Key Economic Development Programs, <br /> Expenditures & Return on Investment Measures Tied to Article 46 <br /> Orange County Economic Development has prepared this summary of Article 46 expenditures, and <br /> noted success metrics,tied to our Department's key economic development programs: small business <br /> and agriculture grants, business recruitment, entrepreneurial start-ups, and collaboration with our <br /> municipal economic development partners. <br /> Assistance was also provided by the Orange County Planning & Inspections Department regarding <br /> the Buckhorn Economic Development District's utility infrastructure, and return on investment <br /> forecast. Information has also been provided by other County agencies (Arts Commission, Cooperative <br /> Extension) and other organizations (Durham Technical Community College, Piedmont Foor Processing <br /> Center, LAUNCH, Inc.)that also receive Article 46 funds supporting their respective economic <br /> development initiatives. <br /> The goal of this summary, updated as of 12/31/21, is to present the primary uses of Article 46 funds <br /> dedicated to economic development, and the positive results recorded in job creation, property and <br /> sales tax generation, and associated economic benefits to our local community. <br /> A. Special BOCC-Approved Funding in 2020 for the COVID Emergency Loan & <br /> Grant Financial Rescue Program (3 Rounds) <br /> During 2020, in response to the COVID-19 pandemic's severe financial challenge to the local <br /> economy, Orange County Economic Development staff administered 3 separate emergency COVID loan <br /> and grant financial rescue programs that received special funding from the Board of Commissioners. <br /> This Board action placed $647,131 million in emergency funding in 2020 into the local Orange County <br /> economy to assist small businesses. All funds were paid from Article 46 reserves. <br />