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by Jordan Green

Monitoring the economic pulse of the Triad

Greensboro business incubator posts economic gains

Notwithstanding a dismal outlook for the Greensboro metro area as recently reported by the Brookings Institute, the Nussbaum Center for Entrepreneurship is highlighting some progress. Comparing 34 companies that were enrolled in the business incubator’s associates program in the third quarter of 2010 and third quarter of 2011, the center tracked a 29 percent increase in revenue to $4.2 million, an 8 percent increase in gross payroll with an average salary per employee of $48,296 and a 26 percent increase in the number of employees with the addition of 15 full-time employees.

“The results of this study reflect the hard work of our entrepreneurs, and the dedication of the Nussbaum staff and our strategic partners in helping these companies grow,” CEO Sam Funchess said in a prepared statement. “The growth of all entrepreneurial companies is key to the continued economic recovery and growth of the Triad, and the Nussbaum Center devotes every available resource towards this goal.”

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