AG 2004 01 26 - Laserfiche WebLink

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November 24, 2003 RAFT Page WHEREA~, the Economic Development~ Inc. is a non-profit corporation organxzed and empowered to promote the overall economic prosperity of Cabarrus County through programs and efforts to foster business growth such as the following: · Recruitment of new and exlstlng companies to Cabarrus County; · Encouragement of existing business enterprises to remain and to further expand their operations in Cabarrus County; Promotion of small business startup and entrepreneurshlp for the citizens of Cabarru~ County, as well as for those that would relocate to cabarrus County for the purpose of starting a New enterprise; and WHEREA~, the Board of Commissioners of Cabarrus County recognized the ~ecesslty of business growth and diversification to the continued econ~c health and vitality within Cabarrus County ~nd 1ts benefits to the catizens of Cabarrus County; and WHEREA~, County and Economic Development, Inc. have entered into a series of annual contracts for County to participate in the funding of the economic development programs of Economic Development, Inc.; and WHEREAS, Economxc Development, Inc. has proposed a three (3) year economm¢ development marketing program to ~ncrease exposure to Cabarrus County both within the recruitment community and the public as a whole, as part of 1ts overall economic development efforts, to be funded partially by annual appropriations from County and partially by privately raised funds; and WHEREAS, Economic Development, Inc. has concluded that in order to successfully solicit contributions from private, and possibly other governmental, sources it would be necessary ~ to assure such potential contributors of a stable base of funding from County for the three (3) year time frame of the proposed econom/c development marketing program; and WHEREAS, Economlc Development, Inc. and County have concluded that in order to ac. hxeve the desired impact and results from the proposed three (3) year marketing program of (1) increase in employment opportunities for Cabarrus County residents in career oriented employment, (11) creation of community wealth through the investment of capital end new business activity, (iil) expansion and diversification of the tax base, and (lv) development and maintenance of solld private business participation in economic development, that Economic Development, Inc. needs to be assured of sufficient funding from County over the three (3) year period to conduct such a marketmng program; end WHEREA~, County has been granted the authormty by the General Assembly in G.S. 153A-13 to enter lnto contlnulng contracts, some portlon or all of whmch are to be performed ~n ensu.%ng fiscal years; and WHEREAS, County has agreed to provide fundlng for three (3) fiscal years to enable Economlc Development, Inc. to provlde that effective three-year econc~/c development marketing program; end WHEREAS, County has agreed to partlclpate in the funchng of the economic development programs of Economic Development, Inc., and Economlc Development, Inc. has agreed to provide a program of economic development within Cabarrus County in accordance with the terms of this Agreement. NOW, THEREFORE, in consideration of the mutual covenants and condltlor~ hereLn contalned and pursuant to the authority contained the North Carolina General StatuteS, the parties do hereby contract and agree as follows: 1. This Agreement shall began July 1, 2004, and shall exist end continue through June 30, 2007. 2. Economlc Development, Inc. agrees to pursue an economic development program for County in which it shall: (a) Establish end maintaxn consistent contact with officials at the local, state, regional and natzonal level to ensure that Cabarrus County is considered when locatlng or ir~tlatlng an operation 1~ the State of North Carolina or the Charlotte regzon. (b) Foxmulate pro3ects for carryxng out the econom/c development program, through attraction of new business, retentzon and expansion of exxstlng businesses, encouragement of new buslnes~ and industrial ventures by local as well as foreign capital, function as a reliable source of l~lformatlon for entrepreneurs a~d small business enterprises wlshlng to establish viable busznesses in Cabarrus County, and other actlvltles of a similar nature~ 299