NC H1029

Requires nonprofit corporations with contracts under G.S. 143B-431.01 to submit annual reports by September 1 including jobs anticipated to result from efforts, including project leads not submitted for discretionary incentives.

Requires nonprofit corporations to develop performance metrics of economic development functions including detailed marketing plans and criteria to measure progress, itemized by county, development tier area designation, and Collaboration for Prosperity Zones.

Creates the North Carolina Workgroup on Economic Development for Distressed Communities consisting of 11 members (5 appointed by Senate President Pro Tempore, 5 by House Speaker, and the Secretary of Commerce) to study and recommend strategies for assisting economically distressed communities.

Requires the Workgroup to examine economic development programs from other states and create a measurement plan with goals, objectives, and timelines to assess progress toward reducing economic distress in North Carolina, with a final report due to the General Assembly by March 1, 2017.

Mandates the Department of Commerce have at least one employee from the Rural Economic Development Division Main Street and Rural Planning Center physically located in each Collaboration for Prosperity Zone office to assist communities with economic development strategic planning, downtown revitalization, and technical support.