Special Programs to Foster Economic Development
Contents
- Economic Business Incubators
- Federal Economic Enterprise Zones
- Washington State Community Empowerment Programs
- International Service District
- HUBZone - Small Business Administration
- Related MRSC Pages
Economic Business Incubators
Small businesses are necessary to a viable economy, but small businesses sometimes fail because entrepreneurs lack management experience and/or capital. Incubator facilities help new companies survive the critical early stages of development and lower the failure rate. They encourage entrepreneurship and minimize obstacles to new business formation and growth. The incubator facility usually houses a number of new enterprises which share an array of services. These shared services may include: meeting areas, secretarial, accounting, round table discussions, FAX/copy machines, research/library, on-site financial and management counseling, and computer/word processing facilities. Generally, incubator facilities and programs are sponsored by one of four groups: public, private nonprofit, private for profit, and educational. Funding sources are drawn from foundations, venture capitalists, all levels of government or any combination thereof. [Sources: "Business Incubators -- A Valuable Tool for Developing and Retaining Businesses, Labor Area Summaries, 4-97 and Small Business Administration (SBA) Incubator Program]
The Washington Small Business Incubator and Assistance Act of 2004 (Chapter 43. 176 RCW – Small Business Incubator Program) created the Small Business Incubator (SBI) program which is administered by the Washington State Department of Commerce (formerly CTED).
Resources
- National Business Incubation Association - A clearinghouse of information on the business incubation industry
- Washington Association of Small Business Incubators
Incubator Programs in Washington
- Applied Process Engineering Laboratory (APEL) Eastern Washington technology business startup center with engineering and manufacturing scale space
- Auburn Project ASCENT (Auburn Scientific Center for Emergent New Technologies) A public-private partnership nurturing new green jobs for the Puget Sound region
- Clallam Business Incubators
- Economic Development Group of Kittitas County (Ellensburg Business Incubator)
- Forks Economic Development Opportunities (scroll down to Technology Center)
- William Factory Small Business Incubator (Tacoma)
- Cooking up a new business? Think incubator, by Tim Strege, Daily Journal of Commerce, February 27, 2003
Federal Economic Enterprise Zones
- Rural Community Empowerment Program, USDA Rural Development - Program expired on 12/31/09. All rural EZECs designations expired on 12/31/09 and USDA-Rural Development is not authorized to designate new Empowerment Zones, Enterprise Communities or Champions.
- Washington Rural EC/EZ Communities (Program expired)
- USDA Rural Champion Communities (Program expired)
- Community Renewal Initiative - HUD Community Planning and Development
- Urban Renewal Communities (HUD)
- Additional Information Resources
Washington State Community Empowerment Programs
- Community Empowerment Zones - Washington State Department of Commerce (Bremerton, Seattle, Spokane, Tacoma, King County (White Center neighborhood), Yakima)
- RCW 43.31C - Community Empowerment Zones
- Bremerton Business Incentives (scroll down to Community Empowerment Zone)
- Spokane Community Empowerment Zone - Greater Spokane Incorporated
International Service District
- RCW 82.04.44525 - B&O Tax Credit - New employment for international service activities in eligible areas.
- Department of Revenue Questions and Answers about the International Services Districts, Business and Occupation Tax Credit (
)
- Vancouver Municipal Code Chapter 5.05 - International Service Zones
HUBZone - Small Business Administration
The purpose of the program is to provide federal contracting opportunities for certain qualified small business concerns located in distressed communities in an effort to promote private sector investment and employment opportunities in these communities. Fostering the growth of federal contractors in these areas and ensuring that these contractors become viable businesses for the long term will help to empower these areas while not adversely affecting efforts to streamline and improve the federal procurement process.
- HUBZone Program - Small Business Administration
- Non-metropolitan Counties Qualified as HUBZones in Washington