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

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2 The final report from Dr. Malizia is included as Attachment 1. The proposal outlining the scope of work is included as Attachment 2. Dr. Malizia's recommendations from the attached report include: • Orange County could focus on more specialized niches in the startup landscape. • Until UNC's Carolina North develops to where it can more directly support life science entrepreneurs, Orange County could develop office/flex space for life science companies, particularly in the NC Highway 54 corridor, possibly through a public/private partnership. • The potential for UNC's Odum Village (former married student housing apartment complex) to support campus startups could be evaluated. Odum Village is located on south campus near the UNC Medical School. • At some future point, as Orange County eventually utilizes more of the southern campus properties in Chapel Hill and potentially shifts some operations to that location, the Economic Development Department could evaluate using various available County spaces in downtown Chapel Hill, such as the County-owned "Jobs Link" building at 503 West Franklin Street, as an incubator center. • Orange County could evaluate the potential for Carr Mill Mall to house startups, with short term, reasonable rental rates. ~ Orange County could evaluate the potential to incorporate an incubator in the proposed mixed use project being developed at 300 East Main Street in Carrboro. • Orange County could evaluate the potential for Hillsborough to accommodate product-oriented spin offs in existing industrial/warehouse space (such as Hillsborough Business Center), as well as County-owned facilities in Hillsborough. • Target the County's existing small business loan program to focus on startups, to include incorporating rent subsidies in the program. • Leverage existing County resources by inviting the participation of high net worth residents to support entrepreneurship growth and incubator facility operations. • Evaluate the potential successes of other emerging sectors such as green companies, contract research organization and defense contractors. • Evaluate the export potential of prepared foods. • Form a working group to include representatives from UNC Chapel Hill and Orange County to coordinate partnerships. FINANCIAL IMPACT: The cost of the study ($12,200) was paid from Orange County Economic Development funds in mid-2011. There is no direct financial impact associated with receiving the report. The financial impact of pursuing one or more of the report recommendations will vary. RECOMMENDATION(S): The Manager recommends that the Board receive and review the attached report, and provide comments to Economic Development staff.