2023-24 Economic Development Year in Review

LAUNCHLAB CELEBRATES 10 YEARS The Greensboro Chamber of Commerce’s Launch Greensboro celebrated a decade of the LaunchLab accelerator program, which helps city entrepreneurs and small business owners start and grow their businesses. With financial support from the City, the program has served nearly 500 companies, more than 55% of which remain in business. The program boasts 71% minority and women representation among participants across its three educational experiences:

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LaunchLab 101, LaunchLab Growth, and LaunchCamp.

Launch Greensboro also hosted its inaugural Startup Week of business seminars and special events such as an A.I. Hackathon, an E-Sports Tournament, and the annual Capital Connects pitch competition. To learn about or apply for a LaunchLab program visit: https://greensboro.org/launch. STEELHOUSE IN GREENSBORO TO BE REDEVELOPED

The Nussbaum Center for Entrepreneurship broke ground on the $40 million redevelopment of The Steelhouse in June. Once Carolina Steel’s main production plant, the site was donated to the Center in 2014. Plans call for a transformation of the building on Elm-Eugene Street that will provide a hub for innovative and scalable startup manufacturing, workspaces for artisans and food entrepreneurs, and community amenities like an indoor farmer’s market and healthcare clinic. The City designated $2 million to support the project, which could create 600 jobs. The funding will support the project’s first phase, which is a multi-tenant manufacturing space.

ECONOMIC DEVELOPMENT PROJECTS ANNOUNCED IN 2024

COMPANY

INVESTMENT JOBS CREATED

IQE*

$305M

109

James M. Pleasants Company, Inc.* Banknote Corporation of America Core Technology Molding Corporation*

$30M $28M

40 50 26 80

$27.85M $26.94M

Clearly Clean Products*

PartnerHero

$7M

200

Gilero Total

$6.4M

37

$431.19M 542

*incentivized by the City of Greensboro