Accomplishments

In mid-2008, the EDC and its consultants, UNC’s Center for Competitive Economies, completed Chatham County’s landmark Strategic Economic Development Plan. The plan lays a clear path for creating and improving economic opportunities in the county. Using a policy-driven approach, the EDC measures its annual success in three focus areas: attraction, retention, and entrepreneurship.

Overall, the EDC:

  • Worked with over 100 businesses to meet their economic development needs
  • Oversaw $143 million in capital investment by new and existing businesses
  • Helped attract and retain over 200 local jobs, worth $12.3 million in annual payroll
  • Completed and received public approval of a Strategic Economic Development Plan that involved:
    • Over a dozen public meetings
    • Over 100 citizen participants
    • And support from the elected boards of Chatham County, Goldston, Pittsboro, Siler City, and the Chatham County School System

As part of its Attraction efforts, the EDC:

  • Contacted 25 prospective businesses that were identified by the Research Triangle Regional Partnership and the North Carolina Department of Commerce
  • Attracted $142 million in capital investment by new companies
  • Announced 104 new jobs, with a total payroll of $3.7 million
  • Hired a nationally recognized commercial realtor and opened the Central Carolina Business Campus with two anchor tenants

As part of its Retention efforts, the EDC:

  • Conducted 30 industry visits for existing businesses in traditional industry clusters
  • Retained 146 jobs
  • Oversaw $1.2 million in increased capital investment by expanding businesses
  • Retained $7.6 million in annual payroll for new and existing jobs

As part of its Entrepreneurship efforts, the EDC:

  • Referred 40 entrepreneurs and small business start-ups to technical assistance providers
  • Oversaw the creation of 50 jobs, valued at $1 million in annual payroll
  • Completed a small business incubator viability study with the Small Business Technology and Development Center that involved two focus groups with almost 20 small business owners and service providers