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Economic Developrfient Corporation has agreed to provide a program of economic <br />development within Cabarrus County in accordance with the terms of this agreement. <br /> <br /> NOW, THEREFORE, in consideration a~ the mutual covenants and <br />conditions herein contained and pursuant to the authority contained in the North <br />Carolina General Statutes, 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 Cabarrus County in which it shall: <br /> <br /> (a) Formulate projects for carrying out the economic development <br />program, through attraction of new industries, encouragement or' existing industries, <br />encouragement o[ new business and industrial ventures by local as well as foreign <br />capital, and other activities of a similar nature; <br /> <br /> (b) Conduct industrial surveys as needed, advertise in periodicals <br />or other communications media, furnish advice and assistance to business and <br />industrial prospects--which may locate in Cabarrus County, furnish advice and <br />assistance to existing businesses and industries,-furnish advice and assistance to <br />persons seeking to establish new businesses or industries, and engage in related <br />activities; and <br /> <br /> (c) Encourage the formation of private business development <br />corporations or associations which may carry out such projects as securing and <br />preparing sites for industrial development, constructing industrial buildings, or <br />rendering financial or managerial assistance to businesses and industries; and furnish <br />advice and assistance to such corporations or associations. <br /> <br /> 2. in furtherance of its economic development program, Economic <br />Development Corporation may employ full and part time staff including a manager or <br />economic developer, a secretary, and other personnel, purchase, rent, or lease an <br /> <br /> <br />