Plymouth- A recent grant has brought a business incubator in Plymouth one step closer to reality. The Grafton County Economic Development Council (GCEDC) received a $225,000 grant to help fund renovations at 149 Main Street, scheduled to be the home of the Enterprise Center at Plymouth, a partnership between the GCEDC and Plymouth State University. The grant, from the Northern Border Regional Commission, will be used to leverage federal funds that could complete the project by mid-2013. Since 2010, the GCEDC has partnered with Plymouth State University and others to develop a business incubator in Plymouth. The incubator will provide support services to new and growing entrepreneurial companies from central New Hampshire. 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 services and staffing to assist the companies. The GCEDC will be responsible for providing flexible space for companies as they grow. Incubators typically provide space and assistance for up to three years or until a company is financially viable. The Northern Border Regional Commission funds will be used to redevelop 149 Main Street, Plymouth, which is currently vacant. It’s location near Interstate 93 and downtown Plymouth as well as its proximity to PSU’s Small Business Institute makes this location especially attractive for the partnership to help develop new and innovative companies. The Commission’s funding makes it possible for the GCEDC to apply for federal funds that, if successful, will allow the organization to add a second floor to 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 (DRED) 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,” says 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.
For more information about this release, contact Tim Kershner, PSU Chief Public Relations Officer, (603) 535-2476 or firstname.lastname@example.org