AN ACT to appropriate funds to the city of roanoke rapids for the purpose of developing an economic development strategy for a portion of the interstate 95 corridor located around exit 171.

The General Assembly of North Carolina enacts:

SECTION 1.  There is appropriated from the General Fund to the City of Roanoke Rapids the sum of X dollars ($X) in nonrecurring funds for the 2021‑2022 fiscal year to be used by the city to develop and implement an economic plan for job creation, increasing the tax base, accelerating public‑private investment, and positioning of the area surrounding Exit 171 off of Interstate 95 (subject area) as a business community, including synergizing connectivity and opportunities with the Exit 173 business community, the extension of Premier Boulevard, and the widening of North Carolina Highway 125. The plan should (i) address and advance, at a minimum, land use planning, maximizing underutilized local and regional resources, infrastructure development, and business recruitment for the subject area and (ii) have at least the following elements:

(1)        A business recruitment campaign. As part of the campaign, the city may employ a national business recruitment firm with expertise in economic research, entrepreneurship, and retail real estate.

(2)        A clearly defined statement (i) regarding the competitive advantages of the subject area for purposes of drawing traveler traffic and (ii) identifying marketable assets in the subject area.

(3)        An identification of key business sectors for which the subject area is compatible by use of target industry analysis and area retail leakage studies.

(4)        An effective branding and marketing strategy.

(5)        Identification of appropriate land uses and property management recommendations as those relate to zoning and other regulations under the authority of Roanoke Rapids.

(6)        Recommendations as to types of economic incentives likely to spur capital investment.

(7)        A demand model to estimate and predict the likelihood and habits of end users for potential retail and industrial businesses in the subject area.

(8)        Means by which to achieve economic stability in the infrastructure, physical development, and layout of the subject area.

SECTION 2.  This act becomes effective July 1, 2021.