Agenda - 03-13-2012 - 4b - Laserfiche WebLink

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ORANGE COUNTY BOARD OF COMMISSIONERS ACTION AGENDA ITEM ABSTRACT Meeting Date: March 13, 2012 Action Agenda Item No. ~{- ~ {~ SUBJECT: UNC Report on Entrepreneurship Opportunities in Orange County DEPARTMENT: Economic Development PUBLIC HEARING: (Y/N) No ATTACHMENT(S): 1) UNC Report -"Rea/ Estate Analysis of UNC Spin-Off Companies'; Emil Malizia, Principal Investigator 2) Report Proposal - "Proposed Study: Analysis of UNC Spin-Off Companies" INFORMATION CONTACT: Steve Brantley, 919-245-2326 PURPOSE: To present and receive Board comments on a report prepared by the University of North Carolina at Chapel Hill`s (UNC's) Department of City and Regional Planning that summarizes the current state of entrepreneurship activity originating from the University of North Carolina at Chapel Hill and identifies tangible options for Orange County to maximize its ability to retain some of these spin offs. BACKGROUND: As a follow up to a report completed in the Fall of 2010 by a graduate-level class at UNC's Department of City and Regional Planning ("Leveraging UNC to Promote Entrepreneurship and Business Expansion in Orange County, NC"), Dr. Emil Malizia proposed a more in depth study of spin-off companies originating from UNC. As a result, Orange County contracted with Dr. Malizia to prepare a focused study on this topic, with a specific emphasis on the space needs for these companies throughout their life span. Dr. Malizia is Professor and Chair of UNC's Department of City and Regional Planning, holds a professional degree in regional planning and has been a member of the American Institute of Certified Planners for 30 years with expertise in the related areas of real estate development, regional economic development, and urban redevelopment. For over four decades, Dr. Malizia has conducted research, taught graduate-level and in-service courses, and engaged in consulting for private, nonprofit, and public clients. Since 2000, 51 companies have originated from UNC through its Office of Technology Development (OTD), with even more companies started outside the OTD. While approximately 90% of these companies remain in the Triangle region, few of these companies are located in Orange County. To enable Orange County to attract and retain a subset of these companies, a clearer understanding of their space requirements and rent levels is necessary. Dr. Malizia documented the space needs of UNC's spin-off companies, interviewed representatives from current spin offs, documented the existing real estate climate, and proposed recommendations on how Orange County can better position itself to retain these companies.