GENERAL ASSEMBLY OF NORTH CAROLINA

SESSION 1993

S	1 

SENATE BILL 1359*

Short Title:  TDA Infrastructure Funds.	(Public)
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Sponsors: Senators Plexico; Albertson, Edwards, Gulley, Hoyle, Hyde, Parnell, and Warren..
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Referred to:  Appropriations.
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May 25, 1994

A BILL TO BE ENTITLED
AN ACT TO APPROPRIATE FUNDS TO THE NORTH CAROLINA TECHNOLOGICAL DEVELOPMENT AUTHORITY, INC., TO SUPPORT THE CONTINUED DEVELOPMENT OF THE TECHNOLOGICAL DEVELOPMENT AUTHORITY AS STATEWIDE ENTREPRENEURIAL INFRASTRUCTURE.
Whereas, North Carolina entrepreneurial companies make increasingly important contributions to the State's economic development and it is therefore imperative that our State identify and support successful efforts to promote entrepreneurial development statewide; and
Whereas, to date, the General Assembly, through the North Carolina Technological Development Authority (TDA), has joined with more than a dozen communities from across the State to develop business incubators which have demonstrated that innovative entrepreneurs can succeed anywhere across North Carolina, provided they have access to the essential resources –  information, technology, capital, and management – needed for their growth; and
Whereas, this experience of TDA and community-sponsored small business incubators from across North Carolina has demonstrated such initiatives to be very efficient tools for local economic development, already accounting for some 1,800 new jobs by 203 companies, 26% of which have been women-owned and 28% of which have been minority-owned; and
Whereas, the success of these incubators shows that entrepreneurs can succeed anywhere in North Carolina when they have access to the necessary resources and that by integrating current and future business incubators into developing statewide information networks, communities from across the State will be able to provide entrepreneurs in their areas with access to the information and technological resources that will fuel their growth; and
Whereas, in order to realize the economic potential