Project Gives New Small Businesses a Running Start
DUNKIRK, N.Y. – Congressman Brian Higgins (NY-27) was joined by SUNY Fredonia President Dennis Hefner and City of Dunkirk Mayor Richard Frey to announce $150,000 in new federal funding to support the SUNY Fredonia Technology Incubator in Dunkirk, New York.
“This Incubator project recognizes the great growth and job potential that follows the development of innovative technology businesses,” said Congressman Higgins. “This forward-thinking partnership between the university and the community provides great economic development opportunities for this region and a strong foundation for pioneering entrepreneurs.”
President Hefner added, “I’m grateful for the support Congressman Higgins has provided for this unique economic development project. Normally only 20 percent of start-up companies survive their first five years in existence; however, when affiliated with a university incubator, the survival rate vaults to 87%. The dollars provided today will help strengthen the SUNY Fredonia technology incubator and our region’s economic vitality.”
The incubator is an economic development initiative undertaken by SUNY Fredonia and the City of Dunkirk with the aim of improving the long-term success rate of high-tech small business ventures in Western New York. It will enhance economic development by providing space, support, and mentoring services for approximately 30 start-up businesses. Through the incubator initiative, SUNY Fredonia will provide opportunities for graduates and other entrepreneurs from inside and outside the region who want to apply technology to a business or service. The funds secured by Congressman Higgins will support the incubator’s initial construction.
“We are confident that with the commitment from SUNY Fredonia, this technology business incubator will assist in creating a substantial number of employment opportunities and become an economic development catalyst for our downtown waterfront district,” stated Mayor Richard Frey. “This initiative will not only help clean up our key revitalization area, but will also help secure a bright future for economic development opportunities within the City of Dunkirk. I can’t thank Congressman Higgins and President Hefner enough for their continued commitment to the City of Dunkirk.”
The incubator is currently operating out of a temporary site in the Lorenzo Building at 314 Central Avenue. The permanent two-story, 21,000-square-foot incubator, to be constructed at the corner of West 2nd Street and Central Avenue in downtown Dunkirk, is currently in the design phase, with construction expected to break ground during the summer of 2008, and a completion date targeted for sometime in 2009.
For more information about the incubator, visit http://www.fredonia.edu/incubator.