By Howard Greninger
The Tribune-Star
TERRE HAUTE
July 02, 2009 11:00 pm
—
Wabash Valley Fairgrounds officials seek to start a new business incubator aimed at attracting and supporting agribusinesses.
The Wabash Valley Business Incubator & Educational Center is to be located in an existing 4,600-square-foot building on the fairgrounds. Built in 1969 by Indiana State University as a motorcycle safety training area, the building has most recently been used as a day care facility and as a temporary center for a flood disaster relief organization.
“This is unique, as we are not aware of any business incubator actually located on a fairgrounds facility. We are focusing on agribusiness. To be a tenant here, you have to have an early stage start-up agribusiness company that you want to locate here,” said Doug Edge, of Edge Marketing Inc. who will serve as incubator director.
Two large and three small office suites, along with shared a training and conference space that holds up to 50 people, will be available to companies accepted into the incubator.
“The fact that it is located on the fairgrounds opens the door for a lot of other marketing aspects for these [agribusiness] companies because they can host expos here and they can do product demonstrations here,” Edge said. “One company we are talking to actually sprays cornfields and bean fields with a helicopter, and we have a great place for a landing pad out here.”
“We are not going to be a high-tech research and development facility, but this is more about sales marketing and going to market,” Edge said.
A fundraising campaign is under way to raise $200,000 to start the incubator, Edge said, which includes the remodeling the building, slated to start in October after funds are raised.
Remodeling includes installing a shower in the facility to allow people to ride bicycles to the building and lessening a carbon footprint to give it a “green” aspect. The building also will use low-flow water toilets and sinks, said Rustin Laswell, owner and chief designer for RCI Designs Inc. in Terre Haute.
David H. Hartmann, president of the fair board, said the board in April approved entering into a contract for the incubator and approved the contract for the facility in May.
“I see this, number one, as an income source for the fairgrounds. As a not-for-profit organization, we always need the income to keep this place afloat,” Hartmann said. “I also envision this being developed into an agricultural center for this side of the state to influence and develop agribusiness in the area. It’s a nice fit with our agricultural background here at the fairgrounds.”
The facility will be marketed aggressively, Edge said, in cooperation with the Terre Haute Chamber of Commerce, West Central Indiana Small Business Development Center and the Indiana Department of Agriculture.
“We will be working with the Wabash Valley Business Incubator on agri-based businesses, as well as retail-based and service-based businesses to provide an outlet so they can reduce initial startup costs,” said Heather Penney, director of the Small Business Development Center, part of ISU’s College of Business.
“We will also be able to be a feeder for the incubator, as a business may need space for a place to hold a meeting, due presentations or put together packets,” Penney said.
Howard Greninger can be reached at (812) 231-4204 or howard.greninger@tribstar.com.
Copyright © 1999-2008 cnhi, inc.