The Fauquier County Business Incubator/Accelerators Crea reating ing Busin iness ss Hubs bs an and Innovat ation ion Zo Zones es
3 Fauquier County Incubator/Accelerators MEC - Fauquier Warrenton Opened February 2014 Fauquier Enterprise Centers Marshall/Vint Hill Opened Late Fall 2015 Fauquier County Business Incubator/Accelerators
Mason Enterprise Center – Fauquier BACKGROUND • Partnership with George Mason University • Opened February 2014 • 12 Offices • Co -working S pace • Virtual Clients • Operates at 80% capacity on average FY16 operation was at no additional cost to County • 4,800 sf 2016 • Additional space was added in FY16 12 offices • In FY17, only County cost is rent “ We were looking for a place to help us start up our business … For us, the MEC was invaluable … it was a great place to get started.” - Prosper Advisory Group 3,300 sf 2014 7 offices Fauquier County Business Incubator/Accelerators
Mason Enterprise Center - Fauquier BUSINESS SUPPORT PROGRAMS “ I would not have been able to make the progress I did without the support of the MEC team … there is Internal Revenue Service (IRS) no way my business … would have taken such leaps forward during that Team “ Eventacular ” time were it not for the support of the MEC staff and my coworkers .” Procurement Technical Assistance Program (PTAP) - The Other Side of Service Small Business Development Center (SBDC )………………………………………………. MONTHLY Veterans Counseling, Virginia Employment Commission (VEC )……………………… MONTHLY Government Contracting, Procurement Technical Assistance Program (PTAP).. QUARTE RTERLY SCORE Mentoring ………………………………………………………………………………………. MONTHLY The MEC-Fauq auquier ier is an activ ive e partic icip ipant ant in the follo lowing: ing: Fauquier Chamber of Commerce • Greater Warrenton Chamber of Commerce • Weekly Lead Share Meetings • Haymarket-Gainesville Business Association • Southern Fauquier Business Owners Association (SFBOA) • First Friday Events in Old Town Warrenton Fauquier County Business Incubator/Accelerators
Mason Enterprise Center - Fauquier RECOGNITION/AWARDS October 2015 “Let’s Connect” 1 ½ Year Anniversary Celebration 60 Attendees • Congressman Hurt attended and • Congres ressman an Hurt (3 visits)….. Roundtables, interaction with MEC clients recognized the MEC mission & accomplishments • GMU President dent , Dr. Cabrera….. Tour and Roundtable with MEC clients • MEC Received the 2014 Small ll Business ness of the e Year Award ….. from the Fauquier Chamber of Commerce • MEC Director , Renee Younes…. Certified as Grow rowth th Wheel el Consu nsult ltant nt, 2016 (assisting businesses in growth & expansion) • Creation of Entr trep eprene reneur r to Entrep repreneu eneur r (E2E)….. A monthly gathering where a business owner/manager gives a brief presentation about their business, and then discusses a challenge they are facing in business. The attendees “mastermind” solutions, offering diverse and dynamic brainstorming solutions to solve the toughest of business challenges. • MEC- Fauquier graduated its first business….. Prosper Advisory Group, a firm specializing in business consulting and investing/holding Dr. Cabrera visits MEC-Fauquier MEC Director, Renee Younes, at Leadshare Congressman Hurt during 1 of 3 visits to MEC-Fauquier
Fauquier Enterprise Centers - Vint Hill/Marshall JUST GETTING STARTED • Opened in Fall 2015… just getting started! • Already blossoming as business hubs with counseling, meetings, workshops, special events Partnership developing with LFCC • Renovations tions continu tinue e at Vi Vint Hi Hill … All furnishings for both centers • have been donated. Painting is happening now, and local businesses are currently working on carpeting, window treatments, furnishings and other décor. • First tenant came on board at the Marshall center not long after it opened, and Resonance, LLC, became a tenant of Vint Hill as soon as it opened. FEC- Vint Hill… Constant Contact seminar FEC- Marshall… People, Inc. seminar FEC- Vint Hill… Fauquier County Chamber & HGBA Social
Fauquier Enterprise Centers - Vint Hill/Marshall JUST GETTING STARTED We've been in the Media: Middleburg Life • Fauquier Now • Marshall Minute • Discovery Publications • Chamber newsletters • The Fauquier Times Alrea eady dy hosted d events s for: : Greater Warrenton Chamber of Commerce (GWCC) • Fauquier County • several private groups • Middleburg Bank • Haymarket/Gainesville Business Association (HGBA) • People, Inc. Local l Partners: tners: Fauquier Chamber of Commerce • Greater Warrenton Chamber of Commerce (GWCC) • LFCC • Haymarket/Gainesville Business Association (HGBA) • Local & Regional Politicians • Vint Hill Village • Vint Hill EDA • Small Business Development Center (SBDC) Fauquier County Business Incubator/Accelerators
Mason Enterprise Center - Fauquier BUDGET We estimate the MEC would break even if moved to a County-owned building, or if rentable space was increased to 10,000 to 12,000 SF. Fauquier County Business Incubator/Accelerators
Fauquier Enterprise Centers BUDGET • The County contributed a total of $181,600 for FY16/FY17 (for both facilities). • Our goal is to reach Half Capacity by the end of FY 2017. Revenues • Vint Hill is rent-free for 3 calendar years (courtesy of Vint Hill Village); Will approach break-even at half occupancy. • Marshall is more expensive, but includes all utilities and came furnished; Expenses Will require close to full occupancy to reach break-even. Fauquier County Business Incubator/Accelerators
Incubator/Accelerator LEVERAGED RESOURCES * * ** NOTES: Vint Hill Village Contribution of $100K over 2 yrs., for build-out of facility and forgone rent *Annual Fauquier County EDA Contribution, committed funding **One-time Mentoring/Business Counseling Services, expected value of up to $10K ***Cumulative Fauquier County Business Incubator/Accelerators
How Do We Measure Success? o High rate of occupancy (80%) in Warrenton o Over 250 businesses assisted/involved o Visits from GMU President, Dr. Cabrera o Three visits from Congressman Hurt and one from Congressman Wittman o Major announcement about $200,000 state grant FEC-Marshall Grand Opening Grand Opening of FEC-Vint Hill The conference room at FEC-Marshall
How Do We Measure Success? o Voted “Small Business of the Year” in 2014 by the Fauquier Chamber o Launched new programs like E2E, “Let’s Connect” o Workshops by IRS, PTAP, Piedmont Workforce Network o Counseling available from VEC, PWN, PTAP, SBDC, SCORE o Service to veterans, MOU with Quantico MEC-Fauquier businesses collaborating The MEC-Fauquier Co-working Space MEC-Fauquier Grand Opening
COMMUNITY ROLE MEC-Fauquier Grand Opening Endorsed by both chambers Centers of business activity and collaboration Establishes a business-friendly environment Rallies the business community and offers a synergy among businesses Adds a diverse range of counseling, mentoring and training for Fauquier Businesses Draws attention from legislators, media, investment prospects, and existing businesses Helps build partnerships “ The Warrenton MEC is turning into a true business hub and connection point for those of us who use the facility … the business connections I have made because of the MEC have been essential to the growth of my business …” - Your College Planning Coach
CONCLUSION • Like most small business assistance programs, economic developers cannot gauge success by measuring tax revenues… it is more essential to judge the impact on the business community . • Study after study confirms that the difference between successful and struggling economies is their ability to launch and nurture young companies and entrepreneurs . • The MEC in Warrenton has been judged a success by Congressmen, chambers, local businesses, George Mason University, and the media. We need more space, but we can become self-supporting in a larger space, or in a county-owned space. • The two new Fauquier Enterprise Center incubators, which opened in Fall 2015, are just beginning to prove themselves and need time to establish their roles. Fauquier County Business Incubator/Accelerators
Recommend
More recommend
