Eastern Foundry, a business accelerator for companies supporting the federal government, and the Fayetteville Cumberland County Economic Development Corporation (FCEDC) have partnered to establish a technology-focused coworking space in Downtown Fayetteville. This facility will be Eastern Foundry’s first location outside of Northern Virginia.
Since 2014, Eastern Foundry has helped contractors grow by providing them with affordable office space, technology resources, and educational courses. All EF members are also given access to exclusive meetings with federal agencies, industry events, and a diverse network of over 200 partner companies. “We can’t wait to take the leap into Fayetteville and show the city what Eastern Foundry, and our community as a whole, can do for their business community,” said Andrew Chang, Co-founder of Eastern Foundry. “As an Army veteran, I know how important the units and contractors in and around Fort Bragg are to our nation. I’ve wanted to open a location here for years and we are so grateful to FCEDC for moving heaven and earth to make this happen.”
The new workspace will be part of FCEDC’s CORE Innovation Center at 201 Hay Street. Launched in 2018, The CORE provides resources for both established companies and entrepreneurs to create the next-generation of cybersecurity, augmented reality, digital healthcare, and other technologies. In addition to jobs created by developers, these sectors are an important source of secondary careers and economic growth. One new tech-related job is directly associated with the creation of 4 to 5 additional jobs in local goods and service industries. “Eastern Foundry is providing the last critical component of the CORE concept,” said Jack Rostetter, former Chair of the FCEDC Board of Directors. “Through the vision and support of state legislators like Rep. John Szoka and Sen. Kirk deViere, local leaders, and our business community, we are creating a collaborative ecosystem enabling new ideas to flourish.”
Companies joining Eastern Foundry at The CORE can network with members and utilize its office in Arlington, VA, less than ten minutes from the Pentagon. This instant teaming ability and government access can act as major catalyst for businesses looking to grow. “Fayetteville is home to incredibly talented and forward-thinking people,” said Fayetteville Mayor Mitch Colvin. “We’re excited to see more cutting-edge advances for the military, healthcare, and other industries developed in our community.”
Eastern Foundry chose Cumberland County because of its proximity to Fort Bragg, the most populated military installation in the world. Cumberland also leads North Carolina in defense spending, with more than $1.3 billion in prime federal contracts performed in 2018. “Our public sector has worked with the US military for over 100 years,” said County Commissioner Chair Jeannette Council. “This partnership will ensure that local businesses have the resources they need to equip, train, and support our armed forces for the next hundred and beyond.”
Learn more about Eastern Foundry at www.eastern-foundry.com
Learn more about The CORE Innovation Center at www.corefayetteville.com