The Economic Development Partnership of North Carolina has recieved full approval from the General Assembly. Governor Pat McCrory signed the bill into law on Tuesday, June 24 at a special ceremony in the Old House Chambers of the State Capitol. The public-private partnership will start operations this month.
The Economic Development Partnership will operate as a private, non-profit corporation that will contract with the Department of Commerce to handle many of the state’s job recruitment and retention functions. The EDPNC will operate as the sales and marketing arm of the state responsible for business recruitment, existing industry and small business support, import and export assistance, marketing, tourism, film and sports development. All grant-making responsibilities will remain public within the Department of Commerce.
“We are thankful for the cooperative effort to pass the enabling legislation to establish the Economic Development Partnership of North Carolina,” said N.C. Commerce Secretary Sharon Decker. “My special thanks go to Senator Harry Brown and Representative Tom Murry for their leadership. Our Commerce Department is well prepared to make this important transition for the continued growth of North Carolina’s economy.”
The new partnership will allow North Carolina to work more quickly and be more flexible in recruiting new business and in retaining existing ones.