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WHEREAS, the Board of Commissioners of Cabarrns County recognizes the <br /> necessity of industrial growth and diversification to the continued econorrfie health and <br /> vitality with{n Cabarrns County and its benefits to.the citizens of Cabarrus County; and <br /> <br /> WHEREAS, Cabarrus County has agreed to participate in the funding of the <br /> economic development programs of the Economic Development Corporation and the <br /> Economic Development Corporation has agreed to provide a program of econornlc <br /> development within Cabarrus County ig accordance with the terms of this agreement. <br /> <br /> NOW, THEREFORE, in consideration of the mutual covenants and conditions <br /> herein contained and pursuant to the authority contained in the North Carolina General <br /> S!atutes, the parties do hereby contract and agree as follows: <br /> <br /> 1. The Economic Development Corporation agrees to pursue an economic <br /> development program for Cabarms County in which it shall: <br /> <br /> (a) Formulate projects for canying ou.t the economic development program, <br />through attraction of new industries, encouragement of existing industries, encouragement <br />of new business and industrial ventures by local as well as foreign capital, and other <br />activities of a similar nature; <br /> <br /> (b) Conduct industrial surveys as needed, advertise in periodicals or other <br />communications media, furnish advice and assistance to business and industrial prospects <br />which may locate in Cabarrus County, furnish advice and assistance to existing businesses <br />and industries, furnish advice and assistance to persons seeking to establish new <br />businesses or industries, and engage in related activities; and <br /> <br /> (c)' Encourage the formation of private business development corporations <br />or associations which may carry out such projects as securing and preparing sites for <br /> <br /> <br />