State lawmakers on Thursday heard an update from Commerce Secretary Sharon Decker on its massive reorganization, which will create public-private partnerships to boost the economy around the state.
Decker told the Joint Legislative Economic Development and Global Engagement Oversight Committee that the new entity will be in operation early next year. She is in the process of hiring a chief executive officer for what will be the Economic Development Partnership of North Carolina.
Legislators budgeted $1 million to set up the new entity. Programs will be split between public and private sector programs. The private sector programs will be overseen by a 15-member board, comprised of appointments by the governor and General Assembly.