North Carolina Unveils Plans for Defense Related Business Incubator

The rapid increase in federal spending for defense and homeland security has led a number of states to establish initiatives targeting potential economic development from these activities. North Carolina becomes the latest of those states, with its proposed Defense Technology Innovation Center.

The North Carolina Technology Association (NCTA), in collaboration with MCNC, has presented a formal plan to develop the incubator/accelerator in Cumberland County. The plan aims to convert North Carolina's technology and R&D assets into products and companies, emphasizing the state's military presence to enhance economic development in the region, said NCTA.

Planning for the incubator began in 2004 when the idea was validated by the General Assembly during its legislative session. The plan centers on a business incubation model and is designed to bridge the military and business communities, providing business start-up services and flexible facilities to accelerate the formation of growth of early-stage technology ventures. Start-up costs would be approximately $5 million over three years.

The nonprofit NCTA serves as the primary voice of the North Carolina's information technologies industry. More information is available at http://www.nceita.org/index.asp.

MCNC, developed by the state government, is a nonprofit organization designed to drive innovation and create jobs through tech-based economic development. More information is available at: http://www.mcnc.org/