• Chamber urges study of economic development tier system

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    March 27, 2015
    The Greater Smithfield-Selma Area Chamber of Commerce is requesting that the North Carolina General Assembly study the state's economic development tier system. The current system for distributing economic and job creation assistance from the State of North Carolina was established in 1996 and is based on a county’s unemployment rate, median household income, population growth and assessed property value per capita. Because of significant demographic variations and other unique circumstances, many counties have become segmented economically, and
    In Johnston County, most of the western part has seen residential growth due to its proximity to Raleigh, however, much of the central and eastern parts of the county are still rural and have seen little population change. Currently, Johnston County is classified as a Tier 3 county which puts it in with Wake, Mecklenburg and Guilford.
    The Chamber asks that the legislature evaluate and change the Tier System to maximize return on investment and make strategic county investments more streamlined and equitable, particularly for underdeveloped areas with a county.

    The Board of Directors adopted the following resolution:

    A RESOLUTION OF SUPPORT FOR CHANGING THE ECONOMIC DEVELOPMENT TIER SYSTEM IN NORTH CAROLINA
     
    WHEREAS, the state of North Carolina is going through a number of new and exciting changes in the way services are delivered to communities and,
     
    WHEREAS, North Carolina, its counties and municipalities need to be positioned as competitive as possible and,
     
    WHEREAS, the current Tier System for distributing economic and job creation assistance from the State of North Carolina was established in 1996 and is based on a county’s unemployment rate, median household income, population growth and assessed property value per capita and,
     
    WHEREAS, because of significant demographic variations and other unique circumstances, many counties have become segmented economically, and
     
    WHEREAS, while western Johnston County has seen residential growth due to its proximity to Raleigh, most of the central and eastern parts of the county are still rural and have seen little population change, and
     
    WHEREAS, the North Carolina Economic Development Board made several recommendations in 2014 to help North Carolina counties become more competitive.
     
    NOW, THEREFORE BE IT RESOLVED, the Greater Smithfield-Selma Area Chamber of Commerce Board of Directors asks that the North Carolina General Assembly evaluate and change the Tier System to maximize return on investment and make strategic county investments more streamlined and equitable, particularly for underdeveloped areas with a county.
     
    FURTHER, steps should be taken to ensure that tier status does not disadvantage any county that is competing solely with an out-of-state location.
     
    Crystal Roberts
    2015 Board Chair
    March 6, 2015
     
    Contact:
    Rick Childrey, President
    (919) 934-9166

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