Volusia County officials have approved funding for a business incubator at Daytona Beach International Airport, which will provide low-cost office space and mentoring for those who start an LLC, the Daytona Beach News-Journal reports.
The program will work to nurture and develop small businesses in the area, which will rent office space at reduced costs and learn from the incubator’s staff members and their various industry contacts.
“We’re real excited about this partnership,” County Manager Jim Dinneen told the paper. “I don’t think there’s any downside to this. I think it really affects the county in a positive way.”
The incubator project will be run by the University of Central Florida, which will receive a total of $775,000 in funding from county officials. The county will also have to pay for the facility to be renovated, which it estimates will cost approximately $1.2 million.
Officials expect it to be open for business sometime next year.
The Daytona Beach location will actually be the ninth for UCF. The school’s business incubation program says that since it began in 1999, it has helped local entrepreneurs create more than 140 companies – which now account for more than 1,600 jobs.
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