About 18 months have passed since North Carolina shifted its economic development functions out of the N.C. Department of Commerce and into a new nonprofit group: the Economic Development Partnership of North Carolina.

Partnership CEO Christopher Chung outlined the group’s purpose during a presentation to the John Locke Foundation’s Shaftesbury Society. In the video clip below, he describes one key difference between EDPNC operations and those of state government.

4:50 p.m. update: Click play below to watch the full presentation.