This is great news for Northern Virginia, read their release below.
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Loudoun County is joining with the Town of Leesburg and George Mason University’s Mason Enterprise Center to create the Leesburg Business Incubator. The Board of Supervisors voted unanimously Tuesday to appropriate $100,000 to support the first three years of the incubator’s operational costs.
A business incubator is a collection of office space for small businesses that allows for and encourages collaboration and innovation. In an environment where entrepreneurs and innovators can work together and share ideas, small businesses have the opportunity to grow stronger and more quickly. Also, by combining common administrative functions, such as reception, copy/fax services, and conference rooms, overall costs can be reduced.
The Mason Enterprise Center will manage the incubator and offer additional support services such as training, access to George Mason University resources, and business expansion assistance. The incubator is also expected to have space for teleworkers.
It is anticipated that future tax revenue and business growth from the incubator will offset the initial costs to operate the facility. As businesses need to expand further, staff from the town and county Departments of Economic Development will assist in finding suitable space for the businesses.
The incubator is expected to begin operating in the next few weeks. It will be located temporarily at 15 N. King Street, Leesburg, before moving to its eventual location of 202 Church Street, S.E., Leesburg. Town staff members have indicated that there is already significant interest in the incubator and that the temporary space may be expanded to accommodate additional tenants.
Leesburg District Supervisor Kelly Burk, the Board’s appointed liaison on the business incubator initiative, commented: “I am excited about this great partnership and opportunity for both the town and county. The location in downtown Leesburg is ideal for small business development and growth. Further, Loudoun and Leesburg are well-positioned to house these companies as they grow and need to expand into permanent spaces of their own.”
County Administrator Tim Hemstreet remarked, “Small businesses have traditionally been the linchpin behind economic recoveries, and this is an important step in Loudoun’s and Leesburg’s history in further supporting the growth of our homegrown small businesses.”
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Chesapeake Regional Tech Council presents “Mobile Apps as/for a Business!” with the following Panel:
