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August 16, 2004 Page 601 their entirety, as shown in Option 2 of the proposed amendments referenced above. Adoption of the federal rules will ensure that North Carolina remains economically competitive with other states in the Southeast. Fair and consistent NSR rules are crucial to maintain and grow our state's economy. The regulatory clarity and operational flexibility provided by the federal NSR rules will encourage industry to upgrade, modernize, and improve their facilities in environmentally and economically beneficial ways that are currently hindered by the burdensome NSR permitting process. For these reasons, EPA predicts an overall decline in air emissions as a result of implementation of these new NSR rules. Adoption of the federal NSR rules will not negatively impact North Carolina's air quality. Health-based National Ambient Air Quality Standards, and the programs and requirements to protect those standards Will not be affected by the NSR revisions. In fact, air quality in North Carolina and the United States is improving due to federal and state emissions reductions programs, and that trend will continue. Adoption of the federal NSR rules will complement those efforts. The federal NSR rules represent a proper balance of the environment and the economy. Adopting limitations that are not required by any federal regulation sends the wrong message to current and prospective business and industry and will place North Carolina at an economic disadvantage. Therefore, the Cabarrus County Board of Commissioners urges the North Carolina Environmental Management Commission to adopt the federal version of the NSR rules. Sincerely, /s/ Robert M. Freeman Chairman, Board of Commissioners (~) NEW BUSINESS (G-8) New Structure of the Economic Development Corporation E. K. "Toby" Prewitt, Chairman of the Cabarrus Regional Chamber of Commerce Board of Directors and Chairman of the restructured Cabarrus Economic Development Corporation (EDC) Board, discussed a new approach to economic development in Cabarrus County. He stated a study earlier this year by James Johnson of the Business School at the University of North Carolina at Chapel Hill had suggested that the scope of economic development be broadened, that the business community be involved and that there be greater participation and cooperation among all governmental entities. The study had also identified a number of needs such as comprehensive land use planning, an aggressive branding campaign, a business retention program and a professional industrial recruiter. Mr. Prewitt outlined changes that had been made to the structure of EDC in response to that study. In June 2004, the EDC Board-of Directors had voted themselves off the board and created a new board that included the County Manager, Concord City Manager, Kannapolis City Manager, Harrisburg Town Administrator, Chairman of the Chamber of Commerce and the Chief Executive Officer of the Chamber. Also, the following Chief Executive officers (CEO's) were named to the EDC Board with each company agreeing to contribute $15,000.00 per year for three years to EDC: H. A. ~Humpy" Wheeler of Lowes Motor Speedway; Lawrence Kimbrough of First Charter National Bank; Mike Coltrane of CT Communications; Larry Hinsdale of NorthEast Medical Center; Lynne Scott Safrit of Atlantic American Properties; Troy Day of Day Enterprises and Jeff Turner (General Manager) of Hendrick Motorsports. Mr. Prewitt reported the proposed initial EDC budget of $638,000.00+ would be funded with the following contributions: Cabarrus County - $438,000.00; cities - $100,000.00 ($1.00 per capita); and Investor - Directors $100,000.00. Further, Mr. Prewitt reviewed plans to create an investor-based ~Committee of 100" that would be comprised of representatives from local businesses making a contribution of a specified amount to the EDC. Those Committee members would be allowed to sit on and lead retention, expansion, recruitment and development and other committees. Mr. Prewitt also discussed the proposed creation of the Cabarrus Regional Partnership, which was described as a virtual, umbrella organization