New Innovation Centre for Entrepreneurs Breaks Ground

October 15, 2010, St. Thomas, ON:
Joe Preston, MP for Elgin-Middlesex-London helped break ground and commence the construction of new business incubator facilities known as ICE, the Innovation Centre for Entrepreneurs. After months of researching potential locations, the innovation centre will be colocated at 300 South Edgeware Road in St. Thomas with the Elgin Business Resource Centre (EBRC) and the St. Thomas/Elgin Small Business Enterprise Centre (SBEC).

Several local dignitaries were also present to commemorate the festivities, including Bob Wheeler, General Manager, St. Thomas Economic Development Corporation (EDC); Dennis Broome, President, EDC; Susan Gardner, President of ICE and past President of EBRC; Alan Smith, General Manager of Economic Development, County of Elgin; Bonnie Vowel, Warden, County of Elgin; Bill Aarts, St. Thomas Alderman, and John Regan, General Manager, EBRC.

"Community groups working together to create jobs in St Thomas is a great thing. We are stronger when we work together," said Joe Preston.

"Once again, the St. Thomas Economic Development Corporation is very pleased to work with the Elgin Business Resource Centre. When ICE is completed, this facility will serve to further encourage the entrepreneurial spirit that is growing in the City and give new ideas a place to prosper," said Dennis Broome, President, EDC.

"The County of Elgin is pleased to participate in this important venture and build on the strong partnership with the City of St. Thomas Economic Development Corporation and the Elgin Business Resource Centre," said Elgin County Warden Bonnie Vowel. "By pooling our considerable expertise, we are able to better help the budding entrepreneurs in our County," the Warden added.

"As a mixed use incubator, ICE will be an important addition to the many business services already provided at the Elgin Business Resource Centre. Onsite counselling and support will help ensure that new businesses at the centre get the hand-up they need to secure their future success. Our organization is proud to have a role in bringing this enhanced level of service to the community," said Susan Gardner.

The ICE project was officially announced on May 7 of this year. The St. Thomas EDC has been the lead on this successful project, which is a partnership between the St. Thomas EDC, the EBRC, and the Government of Canada.

The County of Elgin is also a major supporter of ICE, funding the Small Business Enterprise Centre (SBEC) which will aid in the delivery of some ICE services. The St. Thomas EDC received $800,000 through the Government of Canada痴 Community Adjustment Fund for this project. An additional $90,000 will be raised by ICE through a corporate fundraising campaign and local sources. To date, Fanshawe College, St. Thomas Campus, as well as Raven and Shaw, Gunn and Associates, Libro, Dundee Wealth Management, Bowsher and Bowsher, and McBain Signs and Graphic Design have committed to investing in ICE and Elgin and St. Thomas's economic diversification.

The EBRC will coordinate the services of ICE and help deliver a greater number of opportunities to the ever-growing number of area entrepreneurs. ICE will be a mixed-used facility, delivering administrative services and flexible workspace to growing small businesses. ICE will collaborate with Elgin痴 small and growing businesses to increase the likelihood of success with professional business identity, operational efficiency, reduced risk, and accelerated time to market. The facility is scheduled to have its grand opening, April 1, 2011.

About Business Incubators:

In 2009, there were approximately 95 business incubators in Canada, which served over 900 clients and generated revenues over $93 million. These same incubators supported more than 13,000 part-time and full-time jobs.

Business Incubators, like ICE, do not accept all applicants. Entrepreneurs must apply and meet criteria as indicated by the incubator痴 policies and procedures. Traditionally, incubator businesses spend about 30 months in the program, developing the business to successfully move on to their own locations.

For more information about business incubators or ICE, contact John Regan at 519-633-7597.

About the Community Adjustment Fund:

The Community Adjustment Fund is a two-year, $1-billion national program aimed at addressing the short-term economic needs of communities hit hardest by the global economic recession. The approved project must meet the terms and conditions set out in the contribution agreement.

FedDev Ontario was created as part of Canada痴 Economic Action Plan to support economic and community development, innovation, and economic diversification, with contributions to communities, businesses and non-profit organizations in southern Ontario. To learn more about FedDev Ontario and the Community Adjustment Fund, please visit the web site at www.feddevontario.gc.ca, or call 1-866-593-5505. For additional information on Canada痴 Economic Action Plan, visit www.actionplan.gc.ca.