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Brookdale. Located in the Town of Harrisburg near the 1-485 interchange, Brookdale, a
<br />mixed -use development, includes a shopping center anchored by a Harris Teeter grocery store
<br />and several retail stores. Residential construction is currently underway for the project.
<br />The County's rapid growth, largely attributable to the County's position in the Charlotte
<br />metropolitan region, slowed as a result of the global recession, but is expected to resume, albeit at a
<br />slower pace, as the global economy recovers. The County believes that its short-range and long -range
<br />planning has provided the necessary infrastructure to accommodate anticipated growth, and the County
<br />cooperates with its municipalities in economic recruiting and development efforts. The Cabarrus
<br />Economic Development Corporation ( " CEDC'), which operates with a full -time staff, serves as the primary
<br />recruiting and marketing entity. Local jurisdictions approved a newly- structured CEDC two years ago that
<br />is administered by the Cabarrus Regional Chamber of Commerce. The structure greatly enhances efforts
<br />in business retention and expansion, entrepreneurship and new business recruitment. Given these
<br />changes, combined with the availability of sites within commercial and industrial parks with all municipal
<br />services available located near major highways and interstates, the County expects continued strong
<br />economic development in the area. The CEDC has been accredited by the International Economic
<br />Development Council which is an independent verification of the status of the organization. The CEDC is
<br />one of only 24 economic development organizations worldwide which have been accredited by the
<br />International Economic Development Council.
<br />The following table lists the 10 largest manufacturing and non - manufacturing employers in the
<br />County as of 2010:
<br />Source: Cabarrus County Economic Development Corporation (2010)
<br />Long -term financial planning
<br />The County's operating budget (which is comprised of the General Fund, Cabarrus Arena and Events
<br />Center Fund, Landfill Operations Fund, 911 Emergency Telephone Fund, Workers Compensation Fund,
<br />Health Insurance Fund and Fire District Fund) for the fiscal year ending June 30, 2011 totals
<br />$210,016,714 with a tax rate of $0.63 per $100 of assessed value, based on a total valuation of
<br />$20,958,572,000.
<br />As part of the annual budget development process, the County re- examines and updates the Capital
<br />Improvements Plan (CIP). The CIP is a five -year plan which projects capital needs and expenditures. It
<br />details estimated costs, project descriptions and funding sources for capital projects. The CIP generally
<br />addresses capital assets with a value greater than $100,000 and a useful life longer than one year. The
<br />CIP is readopted annually.
<br />The County also develops a Five Year Financial Plan — a forecast of revenues and expenditures for a five
<br />year period beginning with the proposed budget for the upcoming fiscal year. The purpose of the Five
<br />Year Financial Plan is to ensure that the County's commitments, obligations and anticipated needs are
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<br />Approximate
<br />Number of
<br />Employees
<br />Employer
<br />Service
<br />Carolinas Medical Center
<br />-
<br />Northeast
<br />Medical Center
<br />4,500
<br />Concord Mills Mall
<br />Retail
<br />4,000
<br />Cabarrus County Schools
<br />Education
<br />3,800
<br />Cabarrus County
<br />Government
<br />975
<br />City of Concord
<br />Government
<br />925
<br />Connextions
<br />Business Solutions
<br />900
<br />State of North Carolina
<br />Government
<br />771
<br />Kannapolis City Schools
<br />Education
<br />750
<br />Shoe Show
<br />Shoe Distributor
<br />700
<br />Hendricks Motorsports
<br />Automotive Racing
<br />500
<br />Source: Cabarrus County Economic Development Corporation (2010)
<br />Long -term financial planning
<br />The County's operating budget (which is comprised of the General Fund, Cabarrus Arena and Events
<br />Center Fund, Landfill Operations Fund, 911 Emergency Telephone Fund, Workers Compensation Fund,
<br />Health Insurance Fund and Fire District Fund) for the fiscal year ending June 30, 2011 totals
<br />$210,016,714 with a tax rate of $0.63 per $100 of assessed value, based on a total valuation of
<br />$20,958,572,000.
<br />As part of the annual budget development process, the County re- examines and updates the Capital
<br />Improvements Plan (CIP). The CIP is a five -year plan which projects capital needs and expenditures. It
<br />details estimated costs, project descriptions and funding sources for capital projects. The CIP generally
<br />addresses capital assets with a value greater than $100,000 and a useful life longer than one year. The
<br />CIP is readopted annually.
<br />The County also develops a Five Year Financial Plan — a forecast of revenues and expenditures for a five
<br />year period beginning with the proposed budget for the upcoming fiscal year. The purpose of the Five
<br />Year Financial Plan is to ensure that the County's commitments, obligations and anticipated needs are
<br />G -2 Page 490
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