The multi-function business incubator provides direct support to businesses within the northeast Louisiana delta region. Business incubators offer shared spaces, affordable services, access to office equipment and technology, flexible leases, and room for expansion.
The grant marks the fourth significant investment in the center. The LBIA/LED awarded the NLBCDC $50,000 grants in October 2011 and 2012, both of which were used to create the incubator.
The funding received this year is significant to the success of the project, said Susan Duggins, director of the NLBCDC.
“We appreciate the continued support from the Louisiana Business Incubator Association and Louisiana Economic Development,” she said. “It comes at a significant juncture in the growth of our incubator and will allow us to continue development of a great economic advancement tool for our region.”
The original space filled rapidly and the $25,000 award received in September 2014 enabled expansion of the existing space, thus enabling additional business owners to become tenants.
The current award will allow for renovations to the first floor of the incubator, housed in Stubbs Hall, resulting in more office space for new tenants. Technology will be installed in the conference and training rooms for tenant use in conducting seminars, workshops, and hosting meetings.
The incubator’s available resources, mentors, and networking opportunities allow business owners to create a solid foundation and prepare for the move into their own facility, increasing their chances for long-term survival.
To learn more about the NLBCDC, visit http://www.ulm.edu/nlbcdc/