The Nussbaum Center for Entrepreneurship announces Economic Impact of $124 million

1241 jobs created with average wage of $38,169.

Greensboro – The Nussbaum Center today announced its economic impact on Guilford County for the year ending 2005. The total impact of The Nussbaum Center is estimated at $124.4 million, with the creation of 1,241 net new jobs equaling $46.4 million in additional labor income. The jobs created had an average annual wage of $38,169 which was 4.1 percent above the county-wide average. The operations of the Nussbaum Center, it’s Associate and graduate companies generated an estimated $4.0 million in additional city and county tax revenues.

“We commissioned this economic impact study to demonstrate the effect The Nussbaum Center has in turning entrepreneurs into business owners, ”says Nussbaum President and CEO Sam Funchess. “As the need to create jobs continues to expand, The Nussbaum Center has stepped up to assist local entrepreneurs. This effort has created over 1,241 new high-paying jobs. These numbers reflect the great leadership The Nussbaum Center has had over the last 20 years.”

The Nussbaum Center affects the economy of Guilford County in three ways. First are the direct expenditures for the Nussbaum Center and its administration. Second are the expenditures of the Associates currently residing and operating within the business incubator. And third are the expenditures of the firms that have graduated from the incubator but continue to operate in Guilford County. This last category represents the most important and lasting contribution of the Center to the local economy. The continued success of these companies demonstrates the benefits The Nussbaum Center for Entrepreneurship offers through its focus on business foundations.

About the Nussbaum Center for Entrepreneurship:

The Nussbaum Center for Entrepreneurship, Inc. is a private non-profit corporation whose mission is to enhance economic development in Greensboro and the surrounding area through creating successful business owners.

The incubator is designed to support non-retail, new or emerging businesses. The Center provides shared support services such as business counseling, receptionist, copier, fax, mail boxes, and word processing along with office and light manufacturing space.

For information: http://www.nussbaumcfe.com or Contact: director@nussbaumcfe.com Phone: 336.379.5001