North Carolina § 158-13 - Powers and duties.

§ 158-13. Powers and duties.

Any economic development commission created pursuant to this Article shall: Receive from any municipal, county, joint, or regional planning board or commission with jurisdiction within its area an economic development program for part or all of the area; Formulate projects for carrying out such economic development program, through attraction of new industries, encouragement of existing industries, encouragement of agricultural development, encouragement of new business and industrial ventures by local as well as foreign capital, and other activities of a similar nature; Conduct industrial surveys as needed, advertise in periodicals or other communications media, furnish advice and assistance to business and industrial prospects which may locate in its area, furnish advice and assistance to existing businesses and industries, furnish advice and assistance to persons seeking to establish new businesses or industries, and engage in related activities; Encourage the formation of private business development corporations or associations which may carry out such projects as securing and preparing sites for industrial development, constructing industrial buildings, or rendering financial or managerial assistance to businesses and industries; furnish advice and assistance to such corporations or associations; Use grant funds to make loans for purposes permitted by the federal government, by the grant agreement and in furtherance of economic development; the economic development commission may delegate to another organization or agency the implementation of the grant's purposes, subject to approval by the federal agency involved and the commission's board of directors. Carry on such other activities as may be necessary in the proper exercise of the functions described herein. History (1961, c. 722, s. 2; 1979, c. 775; 2013-360, s. 15.28(a); 2013-363, s. 5.7(a).) Editor's Note. - Session Laws 2005-276, ss. 13.8(a)-(e), provides: "(a) By February 15 of each fiscal year, the seven regional economic development commissions shall report to the Joint Legislative Commission on Governmental Operations and the Fiscal Research Division the following information: "(1) The preceding fiscal year's program activities, objectives, and accomplishments. "(2) The preceding fiscal year's itemized expenditures and fund sources. "(3) Demonstration of how the commission's regional economic development and marketing strategy aligns with the State's overall economic development and marketing strategies. "(4) To the extent they are involved in promotion activities such as trade shows, visits to prospects and consultants, advertising and media placement, the commission shall demonstrate how they have generated qualified leads. "(b) Each of the commissions shall provide to the Fiscal Research Division a copy of their annual audited financial statement within 30 days of issuance of the statement. "(c) The reporting requirements for regional economic development commissions, as provided in subsection (a) of this section, shall be reviewed annually by the North Carolina Partnership for Economic Development, and recommendations for changes to the reporting requirements shall be made to the Fiscal Research Division, the President Pro Tempore of the Senate, and the Speaker of the House of Representatives. "(d) Regional economic development commissions shall receive quarterly allocations of the funds appropriated in this act to the Department of Commerce for regional economic development commissions. "(e) Regional economic development commissions shall remain in the Department of Commerce's Budget Code 14601 with other State-aided nonprofit entities." For prior similar provisions, see Session Laws 2003-284, s. 12.8 (a)-(f). Session Laws 2013-360, s. 15.28(a), repealed this section, effective June 30, 2014. However, Session Laws 2013-363, s. 5.7(a), amended Session Laws 2013-360, s. 15.28(a), so that this section was no longer included in the repeal.