2008-105 EDC - 2007-08 Small Business and Technology Development Center Contract Renewal

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.' ORANGE COUNTY BOARD OF COMMISSIONERS • ACTION AGENDA ITEM ABSTRACT Meeting Date: November 15, 2007 ti' ~~-lCi J Action Agenda Item No. ~- - K SUBJECT: 2007-2008 Small Business and Technology Development Center (SBTDC) Contract Renewal DEPARTMENT: Economic Development PUBLIC HEARING: (Y/N) No ATTACHMENT(S): SBTDC Contract INFORMATION CONTACT: Willie Best, 245-2308 Yvonne Scarlett, 245-2325 PURPOSE: To consider renewal of a contract with SBTDC to continue support of small business development services for Orange County, as stated in the Economic Development Strategic Plan adopted May 14, 1996, and reaffirmed by the Economic Development Commission in its new strategic plan, Investing in Innovation: 2005- 2010. • BA D' rima oal of the Economic Develo ment Commission since its CKGROUN A p ry g p inception has been providing assistance to small businesses to enable them to grow and prosper in Orange County. The Small Business and Technology Development Center (SBTDC) provides significant services to local businesses and has operated under contract with Orange County since 1990. The contract provides for $10,000 to be paid on or about November 15, 2007. As of October 22, 2007, the SBTDC had served 206 Orange County clients for a total of 2,077 hours of counseling time with an additional 64 hours of travel time. Nearly 25 percent of clients were non-white and nearly 31 percent were women-owned businesses. Businesses were evenly split between existing businesses and those just forming their enterprises, and 35 were home-based businesses (up from 10 the previous year). Additionally, the SBTDC helped 24 Orange County businesses secure $20.7 million in capital (the majority of this from Small Business Administration technology grants to small businesses doing innovative research). FINANCIAL IMPACT: The annual budget for the Economic Development Commission approved for Fiscal Year 2007-08 includes $10,000 for professional contract services for the renewal of this contract with the SBTDC. • RECOMMENDATION(S): The Manager recommends that the Board approve the contract renewal and authorize the Manager and the Clerk to the Board to execute the contract.