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IV. Ii,~ ORDER TO DECREASE THE BURDEN UPON P, ESIDENTIAL T~P(. PAYERS ~'~O iN ORDER TO CP~ATE MORE EI~fPLOYi~NT OPPORTUNITY WITHIN THE COUNTY, AN ECONOMIC DEVELOPI~NT STUDY SHOULD BE DONE AND USED AS A GUIDE TOWARDS ACTIVE GOVERNb~MTAL PARTICIPATION IN THE ENCOORAGE~NT OF ~_~EW AND DlPq~RSE CO!~.fi~.RCE B2~D iNDUSTRY. THIS DATA BASE SHOULD ALSO BE USED AS A GUIDE TO RESOURCE DEVELOPI~ENT NEEDED TO SUPPORT NEW COb_~,fERCE. II,~LEb~NTATION: A. Research indicates that industrial and commercial development significantly decreases residential tax burden within a jurisdiction even though residential growth rates are high. With this in mind the County should adopt a policy no actively encourage industrial development (of both capit~fl and diversifi- ed and labor intensive industry) within the County. B It has been recognized that a lack of industrial diversifica- tion exists within the County, therefore, an economic slump in certain industries could cause harm to the Cabarrus County employment rate and tax base. An Economic Base Study should be performed to identify specific diversification needs within the County. The study should also address resource needs of desireable types of new industry. Within an industrial corridor these needs could be planned for and provided for in the most efficient manner. C Through Capit~fl Improvements Programming, development of services required by industry (i.e. sewer, water, etc,) could be more cost effectively provided. Fiscal Impact Analysis for such new industrial services would be possible using Economic Base Study data. Wherever such an analysis indicates that particular industrial developments will be beneficial to the community, priority should be given to capit~-t improve- ments necessary to service the industry.