In This Issue

• Spotlight: EDA’s University Center Economic Development Program
• Success Story: University of North Carolina Home Grown Tools Give Local Leaders Across the Nation Access to Development Strategies Used by Peers
• Highlight: UC-Supported Business FANTASTIC55 Helping People Plan an Encore Career

Spotlight: EDA’s University Center Economic Development Program

EDA's University Center Economic Development Program makes the vast resources of universities available to the economic development community. The University Center Program allows institutions of higher education to establish and operate University Centers (UCs) specifically focused on helping to build regional economic ecosystems that support innovation and high-growth entrepreneurship.

The UCs, which EDA considers long-term partners in economic development, are required to devote the majority of their funding to respond to technical assistance requests originating from organizations located in the economically distressed portions of their service regions.

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Success Story: University of North Carolina Home Grown Tools Give Local Leaders Across the Nation Access to Development Strategies Used by Peers

Say you are an economic developer or local leader and you want to develop a way to revitalize your downtown. Where do you go? Local practitioners in this position would generally rely on their past experiences or personal connections to get examples of activities that may be appropriate. And while these practices may yield insightful information, constraining future possible action based on the bounds of an individual’s experience or LinkedIn Profile is usually not the most prudent way to facilitate robust economic development.

Enter Kenan Center for Private Enterprise at the University of North Carolina at Chapel Hill. As an EDA-funded University Center (PDF), the organization saw first-hand through work with communities the need for accessible, compelling, and detailed information that local leaders could use to help them shape local economic development projects. While the need was present, there did not seem to be an easy answer.

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Highlight: UC-Supported Business FANTASTIC55 Helping People Plan an Encore Career

Nearly one in four new entrepreneurs nationally are between the ages of 55 and 64. A few factors play into this: the age group is well-educated, they have strong professional networks, they have access to capital (usually funded with savings instead of personal loans), are digitally savvy and can withstand risk.

Ann O’Meara, age 62, fits the bill for such an entrepreneur. She saw a gap, used her deep experience and long career in marketing and created Fantastic55, a website aimed at those over 55. The site offers how-to’s and interesting finds on the internet that inspire and educate. She even sells some swag in her online store.

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