The regional partnerships and commissions focus their economic development efforts on local needs; this approach is vital for North Carolina, especially in rural areas of the state. To achieve a more unified approach to economic development, there needs to be increased consistency among regions by requiring non-profit, tax-exempt status, regional representation on the Economic Development Board, and required performance measurement and reporting. Recurring funding is recommended for the regions so they can leverage investment from other sources, with 15% of the existing state appropriation directed to performance-based funding. Receipt of this incentive will be conditional on certification of willingness to participate in the performance measurement system developed by the Economic Development Board. Future regional shares of performance funding would be conditional on complete and accurate annual reporting.
Agency Actions:
- The regional partnerships have implemented a set of uniform accountability standards to assure consistency in institutional behavior, administrative practices, and other key areas. The partnerships worked with the Department of Commerce to develop a comprehensive list of performance measures, which was approved by the Board of Directors of the North Carolina Partnership for Economic Development. The Department of Commerce has become a member of this partnership organization to formalize the collaborative and coordinative work between the partnerships and the department.