Why?

According to the National Business Incubation Association:

"Experts are calling business incubators a 'best value' in economic development, based on low program costs and high return in investment to communities. In addition, studies show that technology incubators created more jobs than other types of incubators and that business incubation is a successful economic development strategy." The following is a summary statement from one of these studies:

"While a variety of development strategies are aimed at attracting existing firms to a region, business incubation is geared primarily to creating new firms and new jobs. In an economy where new businesses are creating far more jobs than existing corporations, it's important for communities to have business strategies in place."

Larry Molnar, Director
EDA University Center for Economic Diversification
University of Michigan Business School, Ann Arbor

NBIA Statistics (1997):

  • Incubator companies experience a sales increase of more than 400%.
  • 87% of incubated companies that fulfilled program graduation requirements are still in business.
  • Business incubation programs create new jobs for a low subsidy cost and a good return on investment.
  • 84% of Incubator graduates remain in the community.
  • Incubation programs improve the local community's image.
  • Incubators contribute to their client company's success and expand community resources, increasing early-stage capital, access to entrepreneurial education, and other sources of help to young companies.
 
 

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