The City of Greensboro and the U.S. Economic Development Administration recently finished hosting a contest looking for the best plan to revive the city's economy.
Out of six finalists, judges selected the plan submitted by a team from University of North Carolina at Greensboro.
Prince John Gaither-Eli of Greensboro's Strong Cities, Strong Communities challenge said the UNC-G team proposed building a Global Opportunities Center that would capitalize on the city's manufacturing history and university presence.
"Greensboro, based on their research, already has a place in the supply chain of exports. Their goal is to expand that by linking existing businesses to the global economy, and then growing new ones," he said.
The 20 total proposals covered a range of economic development themes including:
- workforce development
- alternative energy
- small business development
Gaither-Eli said the top prize for the second and final phase is $500,000. Now the City of Greensboro can pick ideas from the proposals when considering its economic future.
"What other model offers you this type of efficiency, you only pay for what works based on your criteria, and generates this kind of excitement and gets people you wouldn't otherwise get?" Gaither-Eli said.