I am really proud of our Town Council, as well as our Town Manager and all of the town staff who made an amazing thing happen at the meeting on Wednesday, May 30th. Our Council by a unanimous vote authorized the Town Manager and Town Attorney to develop and execute agreements in support of an economic development initiative to create a small business incubator/joint working space at 321 W. Rosemary St. to attract startup companies looking to work with others in a collaborative atmosphere.
The economic development initiative arose when 3 Birds Marketing, a local marketing firm, outgrew its current space on Rosemary Street and needed new space to accommodate their future growth. Key to the plan is 3 Birds’ relocation to Franklin Street and their use of the new public parking lot on Graham Street from 6 a.m. to 6 p.m. Monday through Friday and during other hours, the parking lot would be open to anyone. Sounds complex? Yes, it is, and that’s why I’m proud of our council for being willing to move in unfamiliar territory and take a risk to keep a business, and in partnership with Orange County and UNC, create a space to help incubate new businesses.
We will see a cash contribution from 3 Birds and they will engage in mentoring. This is exactly what we discussed in Chapel Hill 2020, and when we are successful in growing new businesses, we will benefit from the taxes that they will pay. I believe we are moving in a very positive direction, and as many of you have heard me say here on WCHL, “Chapel Hill economic development; open for business to business!”