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35 <br /> Economic Development <br /> GOAL 1:ACHIEVE MONTHLY OCCUPANCY TAX REVENUE AVERAGE OF$128,333 THROUGH SALES AND <br /> MARKETING PROGRAMS. <br /> Board Goal: Implement planning and economic development policies which create a balanced,dynamic local <br /> economy,and which promote diversity,sustainable growth,and enhanced revenue while embracing community <br /> values <br /> Social Justice Goal: Ensure economic self-sufficiency <br /> Revenue ——— Target Projected <br /> $190,000 <br /> $170,000- <br /> v $150,000 <br /> X $130,000 ---- — — -- `------------ <br /> .r <br /> $110,000 ` <br /> $90,000 <br /> cL $70,000 <br /> v $50,000 <br /> 1 1 1 y L 1 L L L L L L L L L L L L <br /> ,lp'L �,O'1' •LOT •y0'1' ,LOT `l,0'1' �,O'1' •LOT .y0'1' ,LOT ,L�'L .LOT .y0'1' .1,0'1' .x,0'1' ,t,0'L <br /> Sed Oox,�o�, Oec, dao Few Oo�,�o, Oec, <br /> Performance Assessment:Tourism spending in Orange County continues to increase as a result of both demand <br /> and increased rates at lodging units,event spaces and restaurants.October will see more than a 120%increase <br /> over last year. November, December and January are"off season"months and revenues will increase <br /> approximately 25%as a result of rate increases(not occupancy).To encourage visitation,the Visitors Bureau has <br /> embarked on a multi tiered campaign to reach NC,VA,SC visitors. Restaurants and live music venues are the <br /> focus of the campaign.The Bureau has a separate campaign to reach meeting planners who book midweek <br /> business. Hotels report a strong 2023. <br /> GOAL 2:CREATE AN ONLINE BUSINESS DIRECTORY AND A LIST OF ORANGE COUNTY BUSINESSES AND <br /> RELEVANT SERVICES TO ASSIST ORANGE COUNTY AND OUR ALLIED ECONOMIC DEVELOPMENT PARTNER <br /> ORGANIZATIONS TO NOTIFY BUSINESSES OF FINANCIAL PROGRAM AVAILABILITY. <br /> Board Goal:Implement planning and economic development policies which create a balanced,dynamic local <br /> economy,and which promote diversity,sustainable growth,and enhanced revenue while embracing community <br /> values <br /> Social Justice Goal: Ensure economic self-sufficiency <br /> Milestones and Tasks Start Progress End <br /> Utilize prior Grant Applicants and existing contracts Jul 22 Sept 22 <br /> through County financial assistance programs <br /> Collect and review existing Town/Chamber of <br /> Oct 22 0% Dec 22 <br /> Commerce lists <br /> Gather and review Orange County Register of Deeds <br /> Jan 23 0% Mar 23 <br /> database <br /> Retrieve and review Business Incorporation records Apr 23 0% <br /> Jun 23 <br /> from NC Secretary of State <br /> Performance Assessment:On a quarterly basis,the Economic Development Department will review,research and <br /> record into a new database subsequent businesses that are identified. As of October 1,2022 we have gathered <br /> and collected current contact information for all of the Business Investment,Agricultural and COVID-Emergency <br /> grant applicants to our document. <br /> 35 <br />