http://www.incubator.ucf.edu/Locations/stcloud.html
While communities across the nation seek new ways to generate local economic development and job growth without spending millions of dollars, St. Cloud and Osceola County took a big step forward recently with the formal dedication of the new UCF Business Incubator-St. Cloud facility at 3201 Budinger Ave. in St Cloud.
Gordon Hogan, director of operations for the UCF Business Incubation Program, said the launch of the new 14,000 square foot facility marks a new era of economic development activity in Osceola County.
Four incubation client companies are locating offices in the new facility immediately, Hogan said, and the UCF Business Incubation Program expects to name a full time site manager in less than 30 days. Eventually, the UCF Business Incubator-St. Cloud could accommodate as many as 20 client companies.
Business incubators rank among the most cost-effective ways to generate sustainable local economic growth. Since 1999, the UCF Business Incubation Program has helped more than 140 emerging companies generate more than $800 million in annual revenues and more than 1,600 new jobs with an average salary of $59,000.
Research has shown that 87 percent of incubator graduates are still in business five years after graduating from an incubation program, said UCF’s Business Incubation Program Founder Dr. Tom O’Neal.
“The UCF Business Incubator-St. Cloud will provide a wide range of services to accelerate the growth of promising young companies so they can play a greater role in economic expansion in the local area,” Hogan explained.
The UCF Business Incubation Program currently supports nearly 90 client companies, Hogan said, and ranks as one of the premier university-based incubation programs in the U.S.
“St. Cloud is very excited to have one of the premiere incubation programs in the country in St. Cloud. The UCF Business Incubator-St. Cloud will not only assist in growing our own companies, but will help to achieve the long-time goal of diversification in the local job markets and the overall economy,” said Ernie Gearhart, Economic Development Consultant for the City of St. Cloud.
The St. Cloud incubator facility is one of eight in the University of Central Florida’s Business Incubation program. Additional incubator facilities are located at UCF Campus, Research Park in east Orlando, and in Orlando, Sanford, Winter Springs and Leesburg.
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