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ORANGE COUNTY <br />BOARD OF COMMISSIONERS <br />ACTION AGENDA ITEM ABSTRACT <br />Meeting Date: August 23, 2011 <br />Action Agenda <br />Item No. 8 - h <br />SUBJECT: UNC Department of City & Regional Planning Proposal on UNC-CH Spin-Off <br />Companies <br />DEPARTMENT: Manager's Office PUBLIC HEARING: (Y/N) No <br />Economic Development <br />ATTACHMENT(S): INFORMATION CONTACT: <br />Proposal from UNC-CH Department of City Frank Clifton, 245-2306 <br />& Regional Planning Economic Development, 245-2325 <br />PURPOSE: To approve a proposal from the UNC Department of City & Regional Planning to <br />complete a study documenting the real estate needs of entrepreneurial companies originating <br />from the University and provide concrete recommendations on how to better retain spin-off <br />companies in Orange County. <br />BACKGROUND: An integral component of the County's economic development plan is to <br />maximize the economic impacts of the University of North Carolina at Chapel Hill. In <br />partnership with Dr. Emil Malizia, Chair of UNC's Department of City and Regional Planning, a <br />scope of work has been developed to analyze the entrepreneurial companies that originate from <br />UNC and establish a company presence outside the University. While a portion of these 'spin- <br />off companies locate within Orange County, many choose to locate initially outside Orange <br />County. The study will focus on identifying the real estate needs of these fledgling companies. <br />The work is proposed to be completed by the end of October 2011. <br />The final report will document the space needs of these entrepreneurial companies with the <br />intent of enabling Orange County to more precisely target this market segment. In addition, the <br />report will provide recommendations to ensure that these entrepreneurs view Orange County as <br />an attractive location to both establish and grow their start-up businesses. <br />FINANCIAL IMPACT: The proposed cost of the study is $12,200, which has been included in <br />the approved 2011-2012 budget. <br />RECOMMENDATION(S): The Manager recommends that the Board authorize the Manager to <br />execute the contract for the study. <br />