The North Carolina Technological Development Authority was created in 1983 by the New Technology Jobs Act to boost job creation by stimulating small business development and growth statewide.
The TDA has undertaken a range of mechanisms to support job creation, from supporting the development of 23 business incubators to investing seed-stage venture capital in technology startups to providing loans to rural companies.
Here are some facts and figures about the TDA:
Founded: 1983 as part of the N.C. Department of Commerce. Became independent nonprofit in 1991.
Address: First Flight Venture Center, 2 Davis Drive, Research Triangle Park, NC 27709
Phone: (919) 990-8558
Website: www.nctda.org
President: David Emmett
Board of directors: John McConnell, chairman; Randy Overton, vice chairman; Gloria Faulk, secretary; Janice Beatty, treasurer; Frank Baird; Harlan Boyles; James Cresimore; Robert Freeman; Howard Hunter; Orlan Johnson; Russ Lea; Jim Martin; Charlie Moreland; James Overton; and Michael Youngblood
2001-02 budget: $3 million, including $1.4 million from operations, $600,000 in state appropriations and $1 million from reserves
Projected 2002-03 budget: $2.5 million, including $1.5 million from operations and an anticipated deficit of $1 million
State funding: Almost $19 million total since 1991
Assets: Almost $17 million, including ownership of two incubators and an equity stakes in 15 technology startups
Value of venture portfolio: About $4 million
Estimated jobs created: More than 1,700
Estimated total economic impact: More than $900 million
Notable incubator graduates: Aurora Funds, Ganymede Software, Orologic, Silicon Semiconductor, United Therapeutics
