SCRA’s SC Launch and Barnwell County Economic Development Corporation form Memorandum of Understanding
April 1, 2010
CHARLESTON, SC – April 1, 2010 – SCRA, a global leader in applied research and commercialization services, and the Barnwell County Economic Development Corporation (BCEDC) announce the signing of a Memorandum of Understanding (MOU) to jointly leverage the expertise of the companies and to explore a wide range of collaborative opportunities.
The MOU creates new initiatives for cooperative, sustainable, knowledge-based economic development and the advancement of job creation through start-up companies in Barnwell County, South Carolina, with the support of research, government and economic development partners in the area.
SCRA brings deep domain expertise in technology-based economic development and applied research to the MOU. The MOU combines the strengths of SCRA, its affiliate, SC Launch, and the BCEDC. The BCEDC will establish and operate a business accelerator in Barnwell County which will house knowledge-based, light production start-up companies that require unique facilities, such as wet laboratories and local commercial support. SC Launch will initially qualify and nominate potential companies who are interested in establishing businesses in Barnwell County.
The BCEDC may independently provide follow-on funds that match SC Launch investments in qualified companies forming or locating in Barnwell County, both within and outside of the County business accelerator.
To further leverage local assets, the BCEDC and SC Launch will provide priority support to start-ups which are effecting technology transfers from Savannah River National Laboratory, and locating in Barnwell County.
“We are pleased to collaborate with the BCEDC to expand commercialization of important technologies in Barnwell County through industry, government and professional cooperation,” said Bill Mahoney, SCRA CEO. “This new initiative with Barnwell County demonstrates how the SC Launch program successfully reaches beyond South Carolina’s major metropolitan areas to support entrepreneurs and benefit citizens throughout the state.”
“The collaboration of our organization and SCRA’s SC Launch is the culmination of months of working together with SC Launch’s Stewart McKenzie to form this agreement,” said Pete Grady, President of the Barnwell County Economic Development Corporation. “We are confident this partnership will result in additional capital investment and jobs for Barnwell County.”
About SC Launch
SC Launch, an SCRA collaboration, assists entrepreneurial start-up companies with up-front counseling, seed-funding, and access to a powerful resource network. The SC Launch mission is to help generate knowledge economy jobs in South Carolina, enhance the state’s quality of life and provide opportunity for all South Carolinians in the new economy. http://www.sclaunch.org.
About SCRA
SCRA is a global leader in applied research and commercialization services with offices in South Carolina, Ohio and in McLean, Virginia. SCRA collaborates to advance technology, providing technology-based solutions with assured outcomes to industry and government, with the help of research universities in the US and around the world. http://www.scra.org.
About Barnwell County Economic Development Corporation
BCEDC facilitates and fosters an environment in which community development takes place, jobs are created and capital investment is made in Barnwell County.
Barnwell County’s rural setting and low cost business environment has proven to be an excellent business location for new and expanding industry. Our industrial community includes such companies as Crane Merchandising Systems, Dayco Corporation, Energy Solutions, Unitech, Kronotex, USA and, most recently, Horsehead Corporation.
