The purpose of this committee is to oversee activities of the Town’s economic development program. The committee will consider economic development initiatives that fit within the approved economic development program that can be jointly implemented by the Town and Chamber.
After the Cary Town Council voted to formulate an economic development strategy on Sept. 8, 2005, the Town of Cary contracted with The Sanford-Holshouser Business Development Group to develop this strategy. Council adopted the resulting Economic Development Action Plan on June 6, 2006. The plan recommended a strategic focus on:
1) existing business and industry support,
2) business recruitment,
3) small business/entrepreneurial development,
4) downtown development,
5) sports development,
6) travel and tourism development and
7) business park development.
At its 2014 Council/Staff Retreat, Council reviewed the Action Plan and reaffirmed the strategies, noting that emphasis should be placed on small business/entrepreneurial development, downtown development and development of employment centers (an updated version of business park development.
On Oct. 18, 2006, the Town of Cary entered into a contractual agreement with the Cary Chamber of Commerce. Under the terms of this agreement, the Town provides funding to the Cary Chamber and the Chamber is responsible for implementing the economic development action plan, which includes the development of a business plan and budget. The business plan addresses action plan implementation, strategic planning, product development, and internal marketing and incorporates action steps, timelines and estimated funding.
An economic development governing board was initially organized to oversee the activities of the economic development program. This governing board was in addition to the council-appointed Economic Development Commission. In 2012, at the recommendation of a council committee tasked with reviewing how the Town is organized for economic development, Council eliminated its citizen advisory Economic Development Commission, renamed the governing board the “Economic Development Committee” and increased its membership to include three citizens.
The membership of the Economic Development Committee includes the Town of Cary mayor, two Cary Town Council members, the Cary town manager, the Cary Chamber’s executive director, the chair of the Cary Chamber’s board of directors and three citizens.
Citizen members must be Town of Cary residents and must apply as part of the annual boards and commissions recruitment process (May 1 - June 30). Appointment of the citizen members is made annually in September. Appointment of the two Town Council members will be made at each Council organizational meeting, which is in December following each Council election.
This committee is a public body. Meeting notices are given in accordance with state law, are listed on the Town of Cary meeting calendar and are open to the public.
Visit the Cary Chamber of Commerce Economic Development web site to learn more about economic development activities.