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EDC proposes $2 million budget

By Rose Hooper
Taking what Jackson County Economic Development Chairman Tom McClure called "a bold move," the EDC is proposing a budget in excess of $2 million for the next fiscal year.

The exact amount is $2,061,650. Of that, $2 million is proposed for site acquisition and building construction of a business incubator and high technology building. As part of the $2 million, $200,000 would go for land purchase, with a minimum of 10 to 15 acres being considered, McClure said.

"We would want it in close proximity to Western Carolina University," he said. "We don't have any property in mind as yet - just wherever we can get the best deal."

He described the 50,000-square-foot building being proposed as similar to the new Biltmore Park in Buncombe County, which was built in partnership with AdvantageWest and the City of Asheville.

"Here in the mountains we could create a nucleus of software-related industries," he told the EDC board at its April 13 meeting."It would create an opportunity for our (CFS) and (computer information systems) graduates to stay in this area."

"For years, we've talked about being able to do this, to attract high-tech jobs to the area and to provide an incubator facility," Boyd Sossamon, chairman of the EDC's new industry committee, said. "Our committee wholeheartedly endorses it."

Eric Brinke, a representative of the N.C. Department of Commerce's western regional office said that his department is also "very much behind the concept." McClure said he envisions the center working closely with WCU's new High Technology Center.

In an incubator facility, like the Small Business Incubator in Haywood County, about 10 new businesses can be served, with their rent calculated by square footage of space they occupy. The businesses share other amenities, including computers, restrooms, conference room, administrative assistance and loading dock.

The EDC board approved the idea for the project and the proposed budget for fiscal year 2001. According to that budget, the site development fund could come from an EDC balance of $237,366, $200,000 from Jackson Development Corp., $200,000 from AdvantageWest, $100,000 from Appalachian Regional Commission and $1 million from the federal Economic Development Association.

The EDC is also expected to receive a $82,087 grant reimbursement from the Jackson Industrial Park water project.

In addition to the $2 million site acquisition/building construction, other expenses are proposed at $2,000 for travel/professional development; $7,500 for marketing; $10,000 for Buster Brown building renovation; $12,000 for contracted services/operations; $3,550 for industry appreciation; $25,000 from its grant program; and $1,600 for office supplies and materials.

Funded in part through its partners, revenue is anticipated at $250,000 from Jackson County; $38,016 from Sylva; $2,000 from Dillsboro; $500 from both Webster and Forest Hills; and $8,000 from investment income.

Back to Archive: 04/20/00.