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Statewide business development programs highlights Wilmington’s innovative climate

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Business leaders in Wilmington showed off the region’s qualities as an innovative business climate this week when they hosted a statewide economic development initiative based out of a North Carolina State University program focused on expanding 21st century industry within the state.

“It’s a discussion we’ve been having for quite some time, about transforming from a 20th-century economy to the 21st century. How are we going to do it?”  Wilmington Mayor Bill Saffo asked the group during an event at Ironclad Brewery on Monday, April 11. “It’s difficult to compete in a high-tech economy. I want the infrastructure in place to attract a 21st-century entrepreneur.”

Selected as “Wilmington/Carolina Coast” to represent the larger region, the city was chosen along with Asheville, Greensboro, Pembroke and Wilson to participate in the InnovateNC program, organized by NC State’s Institute for Emerging Issues to boost the state’s “overall innovation capacity well beyond the Triangle and Charlotte.”

Business leaders from around the state toured sites in Wilmington on Monday, including technology-incubator TekMountain, Cape Fear Community College and MARBIONIC, the University of North Carolina Wilmington marine science technology incubator. The group visited Brunswick County Community College and businesses in that county on Tuesday.

One of the keywords throughout the event was “inclusivity,” with focus on the area’s ability to draw from a diverse range of industries, ideas and talent.

Sean Ahlum, director of business development at TekMountain and an organizer behind the event, said the recent report on Wilmington business development by Garner Economics identified life and marine science research and development, along with technology, as prime target industries for the region. Local entrepreneurs are working to make the area compelling for the widest range of businesses within these industries, creating a “hub” of resources here for entrepreneurs in this sector.

“When we talk about marine biology and technology, those can be narrow industries,” Ahlum said. “What would a hub in Wilmington look like? When talking about inclusivity, which will mean sector diversity.”

New Hanover County Board of Commission Chair Beth Dawson said the unique position of being the state’s second-smallest county by land, but also one of the fastest growing, meant that creating a climate for economic innovation meant working with neighboring counties.

“We don’t have much room to grow, that’s why it’s good for us to work in a regional plan for recruiting, planning and other efforts,” Dawson told the group. “We want our students to stay here after graduation.”

Saffo said the top source of new residents to the Wilmington area was Wake County. Perhaps not coincidentally, the No. 1 county losing residents to Wake County was New Hanover. The difference, Saffo said, is “the people coming from Wake County have more money,” noting that the statistic reflected the area’s trend to send graduates to Raleigh to work, where new residents are retirees.

The area’s education was one strength that could draw in new businesses in innovative fields, along with better broadband infrastructure, speakers at the event said.

Mark Lanier, assistant to the University of North Carolina Wilmington chancellor, said the school tailored its instruction of nursing students to meet the specific needs of locally based clinical research company PPD.

“We developed the program and they hired every one of the graduates,” he said.

However, developing an environment for innovative entrepreneurship will take more investors. Merrett Moore, of Raleigh-based Lookout Capital, said the Triangle area attracts 50 times the investments that the Wilmington area does. However, the solution might not be from outside investment, but local resources, he said.

“There’s a lot of money in Wilmington. I see asset management offices every 10 feet,” Moore said, referring to Mayfaire and nearby areas. “There’s untapped wealth for venture capital here.”

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