Funding For Business Incubator In Senate Appropriations Bill

Date: 7/12/07
Contact: Eric Jome

U.S. Senator Dick Durbin has announced that $250,000 in funding for the McLean County Business Incubator (MCBI) has been included in a Senate appropriations bill. The funding, if approved, would further the development of the MCBI, a collaborative effort between Illinois State University and the Bloomington-Normal Economic Development Council (EDC).

The Business Incubator is a community-wide partnership that will serve as a “one-stop shop” for business development resources. The MCBI will contain logistical and support services for local entrepreneurs and developing businesses. Clients will be provided with a supportive and nurturing infrastructure that will facilitate business development, stimulate job creation and promote business research, innovation and commercialization.

When the facility is established, clients may rent business-ready physical space at MCBI. A wide array of services including clerical support, accounting and bookkeeping assistance, web support services and business management consulting will also be available to help facilitate all the stages of business development.

Plans for the MCBI emerged from a strategic planning process begun by the EDC in 2004. The planned business incubator addresses the need to nurture and retain businesses in Bloomington-Normal and throughout Central Illinois.