Agenda - 06-05-2012 - 5a - Laserfiche WebLink

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5 1 regain more of these spinoff companies. This report is a follow-up to an earlier review 2 leveraging UNC to promote entrepreneurship and business expansion in Orange County. 3 Since 2000, 51 companies have originated from UNC through its Office of Technology 4 Development (OTD), with even more companies started outside the OTD. While approximately 5 90% of these companies remain in the Triangle region, few of these companies are located in 6 Orange County. To enable Orange County to attract and retain a subset of these companies, a 7 clearer understanding of their space requirements and rent levels is necessary. Dr. Malizia 8 documented the space needs of UNC's spin-off companies, interviewed representatives from 9 current spin offs, documented the existing real estate climate, and proposed recommendations 10 on how Orange County can better position itself to retain these companies. 11 12 Dr. Malizia's recommendation from the report includes: 13 14 - Orange County could focus on more specialized niches in the startup landscape. 15 - Until UNC's Carolina North develops to where it can more directly support life 16 science entrepreneurs, Orange County could develop office/flex space for life i7 science companies, particularly in the NC Highway 54 corridor, possibly through a i8 public/private partnership. 19 - The potential for UNC's Odum Village (former married student housing apartment 20 complex) to support campus startups could be evaluated. Odum Village is located 21 on south campus near the UNC Medical School. 22 - At some future point, as Orange County eventually utilizes more of the southern 23 campus properties in Chapel Hill and potentially shifts some operations to that 24 location, the Economic Development Department could evaluate using various 25 available County spaces in downtown Chapel Hill, such as the County-owned "Jobs 26 Link" building at 503 West Franklin Street, as an incubator center. 27 - Orange County could evaluate the potential for Carr Mill Mall to house startups, with 28 short term, reasonable rental rates. 29 - Orange County could evaluate the potential to incorporate an incubator in the 30 proposed mixed use project being developed at 300 East Main Street in Carrboro. 31 - Orange County could evaluate the potential for Hillsborough to accommodate 32 product-oriented spinoffs in existing industrial/warehouse space (such as 33 Hillsborough Business Center) as well as County-owned facilities in Hillsborough. 34 - Target the County's existing small business loan program to focus on startups, to 35 include incorporating rent subsidies in the program. 36 - Leverage existing County resources by inviting the participation,of high net worth 37 residents to support entrepreneurship growth and incubator facility operations. 38 - Evaluate the potential successes of other emerging sectors such as green 39 companies, contract research organization and defense contractors. 40 - Evaluate the export potential of prepared foods. 41 - Form a working group to include representatives from UNC Chapel Hill and Orange 42 County to coordinate partnerships. 43 44 Dr. Malizia said that what this study involved was to look at the companies that 45 demanded real estate and locations that would supply this. He said that they wanted to find the 46 appropriate place where Orange County fit in this regional area and a location where Orange 47 County would not be in competition with Wake or Durham. Orange County needs to look at 48 startup companies whose employees live in Orange County. The most attractive niche would 49 be young companies that are beyond the startup stage. He said that the demand is in life 50 science groups as well as information technology groups. The life science segment has high-