The partnership to develop a business incubator in Plymouth received a hearty boost upon the news that the Grafton County Economic Development Council (GCEDC) received $225,000 for construction purposes. The grant, from the Northern Border Regional Commission, will be used to leverage federal funds that could complete the project by mid-2013.
GCEDC Executive Director Mark Scarano
Since 2010, the GCEDC has partnered with Plymouth State University and others to develop a business incubator in Plymouth. The incubator, called the Enterprise Center at Plymouth, will provide support services to new and growing entrepreneurial companies from around central New Hampshire. The services include networking with other companies and equity funders, mentoring, technical assistance, and, in many cases, leased space to launch businesses.
As its role in the partnership, Plymouth State University will provide the services and staffing to assist the companies. The GCEDC will be responsible for providing flexible space for companies as they grow. Typically, incubators will provide space and assistance for up to thee years, or until a company is financially viable.
The Northern Border Regional Commission funds will be used to redevelop 149 Main Street, Plymouth. Currently vacant, the building holds promise, because of its location and proximity to PSU’s Small Business Institute, to continually develop new innovative companies. Thanks to the Commission’s funding, the GCEDC can now apply for federal funds that, if successful, will allow the organization to create a second floor on the one story structure.
“We’re extremely pleased that the Northern Border Commission joins us in seeing the strong economic development potential in the Enterprise Center at Plymouth,” stated GCEDC Executive Director Mark Scarano. “These funds were crucial in allowing us to move forward with the project.”
PSU President Sara Jayne Steen was also pleased to hear the news. “The partnership to develop the Enterprise Center at Plymouth is an important step for expanding PSU’s award winning entrepreneurial education capacity in the region. PSU’s Small Business Institute has assisted hundreds of businesses over its 30 year history. Now, thanks to our partnership with the GCEDC and support of the Northern Border Regional Commission, we are closer to being able to offer a real estate component to its services.”
The New Hampshire Department of Resources and Economic Development took an early lead in promoting the Enterprise Center at Plymouth project to the Commission. “Governor Lynch strongly supports efforts to develop programs that support entrepreneurs as they start and grow,” stated DRED Commission George Bald. “I’m glad that we could play a part in helping this economic development project move forward to completion.”
Created by Congress in 2009, the Northern Border Regional Commission is a federal-state partnership that provides funding to economic development, transportation, infrastructure and conservation projects in the northeast’s northern forest region.