Minutes 03-22-2018 Chapel Hill - Laserfiche WebLink

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11 Commissioner Price referred to Commissioner Marcoplos’ comment that Durham and Orange County are receiving equal share for the light rail, and asked if he meant just the for the Gateway Station, or for the whole project. Commissioner Marcoplos said just for the Gateway Station. 4. Collaborative Economic Development Efforts & Challenges a) Launch Dwight Bassett, Chapel Hill Economic Development Director, said 35,000 square feet of co-working space was added last year, and is beginning to fill up. He said this operation is five years old. He said the Town and the County have invested about $400,000 over the last five year, with a return of $12 million. He reviewed the following statistics: • 1124 jobs created • $12.75 million in funding in 2017, $20 million in annual revenue from the 62% of the companies that continue to operate • Graduated 75 companies, and 46 continue to be in operation – 10 of these companies are in downtown Chapel Hill, and are contributing about $100,000 to the downtown economy • 5 years of success have brought national attention • Entrepreneur magazine designated Chapel Hill as one of the top 5 entrepreneurial cities in the US • Chapel Hill is one of the top 5 university-facilitated accelerators in the US Dwight Bassett said he meets with every cohort, and encourages the businesses to remain in Orange County and to contact and work with the Economic Development offices directly. Mayor Hemminger said the Town has an Innovation Council for entrepreneurs, and there is a great deal of entrepreneurship in the community that is not connected to the University. Commissioner Price said she hopes the Town and the County can continue to work together to keep these growing businesses in Orange County, as opposed to moving elsewhere. Mayor Hemminger said Dwight Bassett and Steve Brantley, Orange County Economic Development Director, encourage this. b) Arts Background: The nationwide Arts and Economic Prosperity Survey 5 confirmed that the nonprofit arts sector of Orange County is an annual $130 million industry that generates $5 million for local government and draws almost two million attendees each year. Despite this impact and the large number of artists who call Orange County home, the local arts industry is missing key components needed to grow and sustain a thriving, authentic arts culture. The Orange County Arts Commission (OCAC) has recently concluded research to determine these areas of need. By working in collaboration with town staff, local officials, and area arts organizations, the OCAC plans to begin work to address these identified challenges, resulting in a healthier arts industry and an even greater economic impact. Katie Murray, Arts Commission Director, made the following PowerPoint presentation: