HomeMy WebLinkAbout4.a. Business Incubator Discussion 4 ROSEMOU T EXECUTIVE SUMMARY
PORT AUTHORITY
Port Authority Date: September 18, 2012
AGENDA ITEM: Business Incubator Discussion AGENDA SECTION:
Old Business
PREPARED BY: Kim Lindquist, Deputy Director AGENDA NO. 4.a.
ATTACHMENTS: None. APPROVED BY:
ba
RECOMMENDED ACTION: Motion to Appoint a Business Incubator Subcommittee
i Comprised of 2 Port Authority Members and 2 Members of the Public.
ISSUE
At the last meeting the Port Authority discussed pulling together a small working group to
investigate issues relating to a business incubator in town. Staff is aware of two residents, Tom Luing
and Leo Meyer, who would be interested in assisting and have a business background. Two Port
Authority members have indicated they would be amenable to assisting: Bob Leuth and Matt
Kearney. Staff will also assist.
Based upon the discussion, it appears there are several items the group should investigate:
Research other existing business incubators and provide information relating to their operation,
location, financing, and the community as compared to Rosemount.
Investigate potential demand for an incubator within the community.
Contact potential partners, determine level of interest, and indentify resources available.
Project potential incubator capital and operating costs.
The group would report back to the Port Authority who can then determine whether to continue
pursuit of the concept, and if so what additional information is needed to determine the appropriate
level of commitment by the City.
RECOMMENDATION
Staff is recommending the Port Authority formally appoint a small working group to research and
investigate initiation of a Business Incubator in Rosemount. The group should provide information
about options, financing, potential partners and make some recommendations, bringing all back to
the larger Port Authority for further deliberation.