THE VIRGINIAN-PILOT 
              Copyright (c) 1997, Landmark Communications, Inc.

DATE: Thursday, January 16, 1997            TAG: 9701160314
SECTION: LOCAL                   PAGE: B1   EDITION: NORTH CAROLINA 
SOURCE: BY MASON PETERS, STAFF WRITER 
                                            LENGTH:   48 lines

ECONOMIC COMMISSION DISCUSSES WAYS TO BECOME SELF-SUFFICIENT

Members of the Northeast North Carolina Economic Partnership spent their first 1997 meeting Wednesday demonstrating to the General Assembly that they can pay their own way without relying on a $1.2 million a year legislative handout.

At the last session of the General Assembly, the legislators set up seven regional pump-priming commissions and gave each panel $1.2 million annually to get started.

But before the new General Assembly convenes Jan. 29, Commerce Secretary Davis Phillips, who oversees the panels, expects assurance from each commission that it can earn its own funds, at least in part, and not remain on legislative support any longer.

``I think we can do that convincingly,'' said Jimmy Dixon, an Elizabeth City bottling company executive who is chairman of the Hertford-based panel. The Partners held their Wednesday meeting at the Halifax County Community College in Weldon.

``State Sen. Marc Basnight (D-Dare) told us the other day that he doesn't expect trouble getting us more legislative financing this year because of our efforts to help ourselves,'' Dixon said.

Basnight is president pro tempore of the state Senate and wields a lot of power in Raleigh.

The annual funds from the legislature to the northeast Partners is supposed to be used to help business ventures and shore up local and private infrastructure where needed.

Percentagewise, very little is used for commission salaries, Dixon said.

``We need to build up our own bankroll,'' Dixon continued. ``If we run into a company that is about to fail because of cash flow problems, we need to be able to advance survival funds if the business deserved it,'' Dixon added.

So, in a speedy effort to demonstrate progressive solvency, the Partners hired a Columbus, Ohio, fund-raising company.

``We're confident we can bring in at least $750,000 a year for five years from Northeastern business executives we've contacted,'' said Robert A. Radcliff, who operates Capital Funding Strategies Inc. in Columbus.

The Partners agreed, but qualified the contract with Capital Funding that they approved Wednesday.

``We'll start out by paying them $17,500 every three months,'' Dixon said. ``That will give them a chance to show us how good they are without committing us to a long-term contract.

``Remember this a company that has agreed to come up with $750,000 each year for five years,'' Dixon said.