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