Economic Development Advisory Board

Meeting recap

What happened, drawn from the records published after the meeting. Minutes

The board named its strengths as location, schools, a public university, medical facilities, the Article 46 quarter-cent sales tax, arts and talent. Against those it set cost of living and higher taxes, affordable housing, transportation, water and sewer, and a shortage of start-ups, labs and private sector companies. It listed as opportunities transportation, expanding the economic development districts to add tax base, the land use plan, UNC's new arena, an innovation centre and workforce development, and as threats development pressure, traffic, federal funding, cost of living, restrictions on the economic development districts, and schools that are old and not at capacity.

The consultant raised trends she is seeing elsewhere: water, schools, migration between states, remote work, retaining small businesses, online shipping, the value of a four-year degree, and artificial intelligence. She suggested the strategic plan might recommend an economic development summit, and asked members to put two questions to an AI tool, on why someone would move to Orange County and whether to start a company here or in a neighbouring county, to see what is being said about the area.

Members' goals for the county included a larger economic development budget, attracting high-technology companies, growing the commercial tax base, retaining stable labour, and confirming and expanding the economic development districts.