Many cities are now providing space in buildings that were previously vacant.
(Mountain Lakes, NJ, May 5, 2016) — Providing incubator space for start-up businesses is a trend that will grow stronger as those first start-ups attain independence and fill downtown vacancies, says Michael Burayidi, in an article in the May issue of Downtown Idea Exchange newsletter.
Burayidi, chair of the Ball State University Department of Urban Planning, notes that, "What will help in this approach is for community leaders to put together venture capital by working with financial institutions and community foundations.
"It can be difficult for new businesses to obtain funding from traditional sources, so providing a way for start-ups to access funding is very helpful, and in the long term, beneficial to the downtown, and to the city as a whole."
The article looks at incubator programs in Plymouth, NH, Huntsville, AL, and Memphis, TN, where the MEMShop program is taking a non-traditional approach by incubating businesses in their potential long-term locations, as well as mobile locations, rather than at one dedicated facility.
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About the Downtown Research & Development Center
For over 50 years, the Downtown Research & Development Center has acted as the information clearinghouse on practical strategies and tactics for revitalizing the hearts of our cities and towns.
The Group\'s main activities include publishing the widely influential Downtown Idea Exchange and Downtown Promotion Reporter newsletters; publishing relevant books and reports; and operating the DowntownDevelopment.com website.
Website: http://www.DowntownDevelopment.com