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19 <br />export opportunities of prepared foods from local establishments that have national reputations <br />(A Southern Season, T'he Lantern, Mama Dips). <br />Finally, OCED should organize additional discussions to refine and expand its agenda. One <br />established avenue is to convene the economic development staff in the county which includes <br />those working for the towns of Chapel Hill and Carrboro. This group is best positioned to build <br />public support in Chapel Hill and Carrboro for capturing and retaining UNC spin-off companies. <br />Another avenue is to form a group representing IJNC, Chapel Hill and Orange County help <br />coordinate campus-based initiatives that impact the town and county such as discussions about <br />Odum Village. <br />After pursuing these avenues, OCED should be positioned to articulate how to promote <br />entrepreneurship and innovation in the county. This focus would align well with the one getting <br />legs at IJNC. The group should be able to formulate relevant activities that could foster <br />innovation and capture entrepreneurial companies in southern Orange County. Revenue from <br />the sales taY could be combined with resources from the university and towns to support these <br />activities. <br />Conclusions <br />Orange County would strengthen its economic base and diversify its t~ base by attracting and <br />retaining iJNC spin-off companies. OCED could facilitate the development of office/flex space <br />for the life-science companies in the Route 54 corridor, secure units at Odum Village, collaborate <br />with LJNC on its incubator at 505 West Franklin, identify expansion space on West Franklin and <br />at University Mall, assist startups seeking affordable space in Carrboro, help growing companies <br />transition to office or flex space in Hillsborough, and expand its loan program for new business <br />development. <br />The entrepreneurial environment being fostered at LTNC should generate more startups over time, <br />and OCED can increase their chances of success. Although many companies will fail or fail to <br />grow, some will succeed, add employees and generate property and sales tax revenue. A few <br />will become major contributors to the regional economy, representing the next generation SAS, <br />Quintiles, Cree and Red Hat. <br />16 <br />