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<br /> <br />AGREEMENT <br /> <br />This Agreement made and entered into this24th day of January, 2005 by and between <br />the County of Cabarrus (hereafter called County), a subdivision of the State of North <br />Carolina, and Cabarrus Economic Development Inc., a North Carolina non-profit <br />corporation (hereafter called the EDC), <br /> <br />WITNESSETH <br />THAT WHEREAS; County acknowledges that the EDC already provides "core <br />economic development services" as defined below to Cabarrus County to secure quality <br />economic growth in the private sector. "Quality economic growth" is defined as growth <br />that improves the County's tax base, provides jobs at or above current Cabarrus County <br />mean hourly wages for the specific industries, enhances the quality of life and does not <br />adversely affect the el1vironment; and <br /> <br />WHEREAS; the EDC has requested financial support to establish a more <br />extensive marketing and business recruitment program and that these funds be solely <br />for the public good to further a public purpose; and <br /> <br />WHEREAS; the services, goods and programs offered by the EDC constitute a <br />public purpose offered to benefit the citizens and residents of Cabarrus County; and <br /> <br />WHEREAS; the County desires that funds be appropriated to the EDC so that it <br />may provide theservices,gbods and programs stated below; <br /> <br />NOW THEREFORE; for and in consideration of the sum of up to $36,500 per <br />month to be paid by the County as described below, the EDC agrees to provide the <br />following services to the County: <br /> <br />I. DUTIES AND SERVICES PROVIDED BY THE EDC TO THE COUNTY <br /> <br />The EDC will continue to function as the primary marketer and prospect-servicing <br />agency for Cabarrus County's economic development program to assure continued <br />growth and viability in the County and its muncipalities. <br /> <br />A. CORE SERVICES <br />The central purpose of the EDC will be to build strong relationships with key decision- <br />makers in targeted industries and to leverage relationships with these decision-makers <br />to cause them to expand existing facilities if here, or to relocate to Cabarrus County if <br />not. Since Cabarrus County benefits from all economic development 'successes within <br />its borders, it funds the EDC to provide this basic level of economic development <br />services. The EDC will also serve as the primary marketer and prospect-servicing <br /> <br />17-1 <br />