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Lunch with Grant Recipients: <br /> Mark Overbay from Big Spoon Roasters spoke about how the small business investment grant program <br /> helped his company up fit their new warehouse space in Hillsborough and hire additional staff. <br /> Dan Green of Woodcrest Farm and Forge was able to continue operating his family's farm and shared <br /> how the Agricultural Investment Grant funds they received made it possible to expand their workshop <br /> space to help grow their classes and camps over the last year. <br /> Role of Economic Development Board and Department: <br /> Dr. Jonathan Morgan, Professor of Public Administration and Government at the UNC School of <br /> Government gave a presentation about implementing an effective Economic Development Program. <br /> High Performing Economic Development Programs will have and operate a sound strategic plan, adapt to <br /> changing conditions, invest in local assets (people, infrastructure, amenities), strive to be"business- <br /> friendly", support grant programs, innovate and take risks, build alliances and networks and use <br /> incentives wisely. The program needs to have several important components like visioning, planning, <br /> strategy, structure, leadership, funding, performance measurements and evaluation. So not just goal <br /> setting and preparing a plan but emphasis on implementation. Overall, the two questions he proposed to <br /> the board was 1. What does success look like? 2. What does it mean to be "effective" in Economic <br /> Development? <br /> Tom White, Director of Economic Development, N.C. State University, summarized what the guest <br /> speakers presented and said that we need to look at the bigger picture and numbers. He mentioned how <br /> North Carolina State University is involved in Local Economic Development and he encouraged the board <br /> to move forward with purposing a new Strategic Plan. <br /> Retreat Recap and Priority& Goal Setting <br /> The Board was asked two questions to think about: If we are successful what will we have accomplished <br /> and 2. If we focus on three things this year what do you think those areas should be? <br /> The retreat adjourned at 3:00 and a few members and staff took a brief tour at Innovate Carolina's new <br /> space <br />