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ORANGE COUNTY <br />BOARD OF COMMISSIONERS <br />ACTION AGENDA ITEM ABSTRACT <br />Meeting Date: December 14, 2004 <br />Action Agenda <br />Item No. 5-,.ya <br />SUBJECT: 2004-2005 Small Business and Technology Development Center (SBTDC) <br />Contract Renewal <br />DEPARTMENT: Economic Development PUBLIC HEARING: (Y/N) No <br />ATTACHMENT(S): <br />A. SBTDC Contract <br />B. Orange County Success Stories <br />INFORMATION CONTACT: <br />Dianne Reid, ext 2326 <br />TELEPHONE NUMBERS: <br />Hillsborough 732-8181 <br />Chapel Hill 968-4501 <br />Durham 688-7331 <br />Mebane 336-227-2031 <br />PURPOSE: To consider renewal of a contract to continue support of small business <br />development services far Orange County residents, as stated in the Economic Development <br />Strategic Plan adopted May 14, 1996, and reaffirmed by the Economic Development <br />Commission in its strategic planning session in August 2000. <br />BACKGROUND: A primary gcal of the Economic Development Commission since its inception <br />has been providing assistance to small businesses to enable them to grow and prosper in <br />Orange County„ The Small Business and Technology Development Center (SBTDC) provides <br />significant services to local businesses and has operated under contract with Orange County <br />since 1990. The contract provides for $10,000 to be paid in two installments of $5,000 each. <br />The first is to be paid an ar about January 15, 2005 and the second on or about Aprill5, 2005. <br />During fiscal year 2003-2004 (July 2003 - .tune 2004), the SBTDC staff (which included one bi- <br />lingual counselor) served 185 Orange County clients for a total of 2,425..5 hours of counseling <br />time: <br />• 101 clients were considered Emerging Businesses (pre-venture clients - in the process <br />of starting their business -and start-up companies). These businesses received 645.5 <br />hours of counseling and represented 26.6% of all cases in the County. <br />• 56 were Traditional Businesses (more than 3 years in business and less than $1 million <br />in revenues). These firms received 1,020,25 hours of counseling and represented 42.1% <br />of cases in the County. <br />• 17 were Small-Medium Size Enterprises (mare than 3 years in business and more than <br />$1 million in annual revenue).. These firms received 467.25 hours of counseling and <br />represented 19.3% of all cases in the County. <br />• 5 companies were Venture Track companies and received 127 hours of counseling. <br />