Osceola County to fund Kissimmee Incubator

  County Commissioners recently approved funding for a new incubator to accelerate creation of successful, homegrown businesses that will provide high-wage jobs to residents. The Osceola County Economic Development Department spearheaded efforts to create an incubator in  downtown Kissimmee.
   “This incubator is another fundamental step in creating jobs for our community,” said Osceola County Commissioner Brandon Arrington, whose district includes the incubator site. “This partnership again shows this commission’s commitment to growing jobs right here at home. Kissimmee’s downtown is the perfect environment for entrepreneurs who will create new, high-wage jobs.”

   The unanimous vote allows the county manager to negotiate the funding agreement with the University of Central Florida, which will manage facility.
   Commissioners approved up to a total of $405,000 to be paid over a three-year period for the incubator to be located in City Centre in downtown Kissimmee. The city’s Community Redevelopment agency, the City of Kissimmee and the University of Central Florida are all partners in the venture -- the second UCF-managed incubator in the county.
   Incubation programs work with community partners to facilitate smarter, faster startup and growth of emerging companies.
   Since its founding in 1999, the award-winning UCF Business Incubation Program has helped more than 100 emerging companies create over $500 million in annual revenue and more than 900 new jobs with an average salary of $59,000. That’s a 96 percent increase above Osceola’s median wage of $30,040.
The County, through the Economic Development Department, will work closely with UCF on marketing the incubator.
   Osceola County is a member of the National Business Incubation Association, which is the world’s leading organization advancing business incubation and entrepreneurship.