HomeMy Public PortalAboutTOL PR 2010-09-24 County supports incubator
Town of Leesburg
News Release
For Immediate Release
Contact:
Marantha Edwards
Economic Development Manager
medwards@leesburgva.gov
703-737-7019
Leesburg Business Incubator Gains County Support
Loudoun County pledges $100,000 over three years to help underwrite
operational costs for new Mason Enterprise Center in Leesburg
Leesburg, VA (September 24, 2010) – The Loudoun County Board of Supervisors voted
unanimously on Tuesday, September 21, 2010, to appropriate $100,000 to support the new
Mason Enterprise Center in downtown Leesburg. This funding represents half of the local
dollar support needed to underwrite the incubator’s initial operating costs. The Town of
Leesburg will provide the other half, for a total of $200,000. After the first three years of
operation, the incubator is expected to be financially self-sustaining.
The Leesburg Business Incubator is expected to begin operating at the beginning of October
and will be managed by the Mason Enterprise Center (MEC). The Mason Enterprise Center is a
major outreach program of George Mason University’s School of Public Policy, supporting the
University’s goals of regional economic development and job creation/retention. According to
Marantha Edwards, Leesburg Economic Development Manager, she and MEC director Keith
Segerson have begun interviewing potential client companies for the incubator.
“Target companies for the incubator are businesses that are in a growth mode,” Marantha
explained. “They’ve established themselves, they have cash flow and their product or service is
scalable. These businesses are in a position to benefit most from the services offered by the
business incubator.”
In addition to the client company space, the Leesburg Business Incubator will have telework
stations that offer companies and federal agencies the opportunity to allow employees to work
closer to home in a secure environment.
(more)
TOL PR 2010-09-24 County funding for incubator
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The Leesburg Business Incubator will be
temporarily located at 15 North King Street,
while its permanent home at 202 Church Street
SE is under construction. Once the building at
202 Church Street is completed, the incubator
will occupy 7,140 square feet and will include
the offices of the Leesburg Economic
Development staff. The Town is in discussions
with the Loudoun Small Business Development
Center about co-locating with the incubator.
“We are thrilled with the support from Loudoun
County on this project,” said Ara Bagdasarian,
chair of the Leesburg Economic Development Commission. “Now, it’s time to get this incubator
rolling and make Leesburg and Loudoun County the BEST place to do business in the country!”
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