Fayetteville State University is gearing up to open its Innovation and Entrepreneurship Hub this fall. But first, it's looking for additional funding from the City of Fayetteville and Cumberland County.
The historically Black university is seeking $500,000 from the city and county, according to a proposal the university sent to Fayetteville. The city considered the matter during a May 2 City Council Work Session.
"To date, the university has already invested approximately $600,000 of the $1.7 million total investment required to bring this responsive, inspiring, and impactful Hub space to life," FSU said in its proposal. "To help enable expedited completion, FSU seeks $500,000 collectively from the City of Fayetteville and from Cumberland County to go toward additional renovation expense requirements."
The hub is expected to be fully operational by this fall, the proposal said. A university spokesperson did not return a request for comment on the funding proposal.
In October 2021, FSU announced it had acquired the Bronco Square Commercial Development and was repurposing the 6,500-square-foot bookstore into the Innovation and Entrepreneurship Hub.
The goal of the hub is to become a catalyst for regional economic development in the Sandhills and Fayetteville by providing resources for entrepreneurs to start and grow existing businesses and increase job opportunities for residents. The Small Business Technology Development Center, the Veterans Business Outreach Center, the EDA University Center, and the Construction Resource Office will all be consolidated at the hub.
The hub will feature spaces for collaboration and be equipped with technology such as desktops, laptops, conference rooms with video conferencing capabilities and maker spaces with 3D printing.
Innovation centers are becoming increasingly common throughout the Greater Triangle as regions look to bring their economies into the 21st century.
Up north in Vance County, for example, the local school system recently opened the Center for Innovation in Henderson. Cindy Bennett, superintendent for Vance County Schools, said the center will give students the chance to work with robotics, mixed reality and other high-tech elements to better aid in getting students ready for the workforce of the future.
Evan Hoopfer covers real estate and economic development in the Greater Triangle, focusing on the counties outside Wake and Durham. Have a tip? Reach him at ehoopfer@bizjournals.com or (919) 327-1012.
