31 2010
U.S. Federal Funding for Business Incubators
A recent study by Commerce Dept.’s Economic Development Administration (EDA) found that investments in business incubators yield a higher return than that of traditional public-works projects such a infrastructure upgrades etc. As a result of this, EDA is increasingly providing funding to incubators and incubator programs around the U.S. In 2009, EDA invested $80.7 million in incubators, which it says resulted in 8,746 jobs.
Two recent bills introduced would significantly increase the federal investment into business incubators around the country. These initiatives have top-level support, and U.S. Commerce Secretary Gary Locke said in an interview, “We really think they’ll have tremendous payoffs for job creation and business across the country.”
