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2 <br />• SBTDC also assisted 6 "other" clients, primarily non-profits with 165,5,hours of service, <br />which represented 6,8% of cases and received 122 phone calls from Orange County zip <br />codes requesting information for a total of 31,65 hours of service. <br />• SBTDC also conducted 10 two-hour Pre-venture Orientation sessions totaling 132 client <br />counseling hours and serving 66 clients, <br />During the 2003-2004 fiscal year, the SBTDC helped seven Orange County businesses secure <br />$42,732,313 in capital (including debt financing, equity investment, and one refinancing), This <br />was disproportionately represented by three companies in the life science/technology cluster, <br />which received approximately forty million dollars in venture capital/federal funding. The <br />remaining clients received from $100,000 to $748,000 each, Attachment B describes several <br />local business success stories for last year. <br />Annual economic impact assessments undertaken at the state level (pertormed by an <br />independent assessment firm) show that SBTDC clients significantly outperform the average for <br />all North Carolina small businesses in both sales and employment growth. <br />FINANCIAL IMPACT: The annual budget for the Economic Development Commission <br />approved for Fiscal Year 2004-2005 includes $10,000 for professional contract services for this <br />contract with the SBTDC. <br />RECOMMENDATION(S): The Manager recommends that the Board approve the contract and <br />authorize the Manager and the Clerk to the Board to execute the contract subject to final review <br />by staff and the County Attorney, <br />