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Core Economic Development Activities— Recruitment Tools <br /> - New web page—www.GrowlnOranqeNC.com <br /> - Creation of collateral marketing materials <br /> - Prepare site and building data sheets <br /> - Continuing our existing Industry visits with major businesses <br /> - Outreach to key stakeholder and economic development allies <br /> Small Business Loan Proaram Update <br /> - 6 active loans, approved by a volunteer Board of Directors, totaling $235,000 <br /> - Diverse loan recipients—toy maker, fine hardwood furniture designer, a commercial <br /> cleaning service & a micro brewery <br /> - Loan repayments are current; no defaults <br /> - $115,000 currently remains for 3-5 loans to future clients in this fiscal year <br /> Outreach Efforts with UNC <br /> ■ Continue to build ties with various departments. <br /> � Seek technical assistance to assist with prospect recruitment. <br /> � Recent collaboration with the Department of City& Regional Planning —Rea/Estate <br /> Analysis of UNC Spin-Off Companies' <br /> � UNC's new 505 W. Franklin Street incubator and wet lab space are set to open this <br /> month. <br /> ■ Building and strengthening ties with various University of North Carolina departments is <br /> a top priority, such as those involved in applied research, sustainability, life sciences, <br /> software & information technology, and UNC agencies such as the Institute of <br /> Government, the Kenan Institute, and City & Regional Planning. <br /> ■ We're seeking assistance in technical fields, such as for a recent business prospect <br /> lead we received last week which is involved in medical products, where UNC can help <br /> us in business recruitment and sell this area's technology and talent. We plan to identify <br /> specific departments and individuals whose involvement, for example, in software <br /> development, pharmacy, medicine and IT, can be most beneficial to ideally helping us <br /> land a specific project. I am personally aware of North Carolina State University's very <br /> active engagement with the NC Dept. of Commerce to jointly recruit high tech prospects <br /> to the state, due, in part to that university's industrial extension legacy. I want to help <br /> UNC and Orange County partner in a similar manner, and so we will be meeting with <br /> UNC on a regular basis. <br /> ■ As one example, our department contracted earlier this year with Dr. Emil Malizia, who <br /> is Chairman of the Dept. of City and Regional Planning, who completed a study on the <br /> real estate needs of spin-off companies coming out of the university. The goal of his <br /> study was to be able to assist and retain UNC's entrepreneurial start-ups. <br /> ■ He found that the majority of the UNC's past entrepreneurial startups began with a <br /> Chapel Hill presence, but have since departed for Durham and other locations as those <br /> start-ups grow in size and employment. We are not holding onto our home-grown <br /> technology firms. <br /> ■ As a result, Dr. Malizia recommends that Orange County focus its' assistance primarily <br /> toward helping Information Technology-related startups which he feels require less <br /> capital and expensive equipment needed to grow, and are more likely to value the <br /> Chapel Hill/Carrboro area in particular and will remain and thrive. <br /> ■ One upcoming example is UNC's 505 W. Franklin Street incubator and wet lab space, <br /> which is soon set to open. <br /> Economic Development Work Plan —A Summarv <br /> ■ Website launch by end of December 2011. <br /> ■ Develop collateral material on existing inventory. <br /> ■ Conduct NC Department of Commerce visits. <br /> Hold regular economic development partner meetings with municipalities, UNC &others. <br />