Why an Innovation Corridor?

We Encourage innovation

Internet of Things (iOT)

BIG Data

Advanced Manufacturing

Security applications

Operate Your Entire Business from the Cloud

AgTech

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We Power the US Economy

Businesses < 1 year old = 2.5 million new jobs EVERY YEAR (since 1994)

Firms 1 year old = 1 million new jobs // Firms > 10 years old = 300,000 jobs (on Average)

Small businesses generate 16X more patents than larger businesses.

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Successful Story

Greenville, SC

145 startups/small businesses // 552 new direct & indirect jobs // Average salary of $70,000 // $64 Million in payroll

Launched a STEM High School & Spawned a Computer Programming Academy called The Iron Yard

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Why is The Core an Innovation Corridor?

We Power the US Economy

Businesses < 1 year old = 2.5 million new jobs EVERY YEAR (since 1994)

Firms 1 year old = 1 million new jobs // Firms > 10 years old = 300,000 jobs (on Average)

Small businesses generate 16X more patents than larger businesses.

We Encourage innovation

Internet of Things (iOT)

BIG Data

Advanced Manufacturing

Security applications

Operate Your Entire Business from the Cloud

AgTech

Successful Story

Greenville, SC

145 startups/small businesses // 552 new direct & indirect jobs // Average salary of $70,000 // $64 Million in payroll

Launched a STEM High School & Spawned a Computer Programming Academy called The Iron Yard

What is an Innovation Corridor?

VISION

Greater Fayetteville will grow a research, creative, innovation, and entrepreneurship ecosystem anchored in Downtown Fayetteville into an innovation corridor connecting Fayetteville State University, Fayetteville Technical Community College, Cape Fear Valley Health Systems and Fort Bragg.

Mission

Make Fayetteville a collaborative hub of innovation by

- Aligning loosely connected efforts to
- Inspire idea creation
- Cultivate new and existing business innovation, and
- Build the eco-system to identify and support viable outcomes

Measuring Success

- Participation

- Innovation-based company creation [Internet of Things (iOT); BIG Data; Advanced Manufacturing; Digital Healthcare; Security applications (ie Cyber, etc); Drone Technology; Augmented Reality Solutions; AgTec]

- Economic activity – investment, GDP growth, diversity distribution, jobs

Economic Impact Potential

Higher-Wage Jobs

Creation of new higher-wage jobs through innovation in Internet of Things (iOT); Big Data; Advanced Manufacturing; Cyber Security; Drone Technology; Augmented Reality Solutions; AgTec, and others emerging sectors.

Recent Studies

Recent studies have shown that these types of technology and innovation jobs are also an important source of secondary jobs and local economic development – resulting in a local multiplier. One job created in these high technology sectors is associated with the creation of 4 to 5 additional jobs in the local goods and services economy.

New Industry Sectors

Creation of new industry sectors will result in the expansion of new revenue generation through taxes and fees directly from businesses and jobs created in the innovation corridor and community, but also indirectly from the secondary businesses and jobs created as a result of the local multiplier.

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