Agenda - 01-16-2002 - 8e - Laserfiche WebLink

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' ORANGE COUNTY BOARD OF COMMISSIONERS ACTION AGENDA ITEM ABSTRACT Meeting Date: January 16, 2001 Action Agenda Hem No. R-e SUBJECT: Small Business and Technology Development Center(SBTDC)2001-2002 Contract DEPARTMENT: Economic Development PUBLIC HEARING: (YIN) No ATTACHMENT(S): INFORMATION CONTACT: SBTDC Contract Dianne Red,ext 2326 TELEPHONE NUMBERS- Hillsborough 7324181 Chapel Hill 968-4301 Durham 688-7331 Mebane 336-227-2031 PURPOSE: The purpose of this contract is to continue support of small business development services for Orange County aboard,as stated! in the Economic Development Strategic Plan adopted May 14, 1996, and reaffirmed by the Economic Development Commission in its strategic planning season in August 2000. BACKGROUND: A primary goal of the Economic Development Commission since its inception has been providing assistance to small businesses to enable main to grow and prosper In Orange County. The Small Business and Technology Development Center(SBTDC) provides significant services to local businesses and has operated under contract with Orange County since 1990. The contract provides for$10,000 to be paid in two installments of$5,000 each. The first is to be paid on or about December 31, 2001 and the second on or about April 30, 2002. For the first six months of 2001, the SBTDC served! 55 Orange County them for a total of 1,107.5 hours of counseling time: • 10 were pre-venture Gients representing 43.25 houm of counseling • 41 were existing businesses representing 341.55 hours of counseling • 4 were High Growth/High Impact businesses representing 632.75 hours of counseling During the same six-month period, SBTDC staff helped eight businesses secure$1,277,010 in financing. The financing enabled these companies to create 2 part-time and 11 full-time jobs, and retain 5 part-time and 16 full-time jobs. For calendar year 2000, the SBTDC served 108 Orange County clients for a htlal of 1,165 hours of counseling time: 17 were considered pre-venture clients(in the process of stating their business) representing 52.25 hours of counseling.