Palatka city officials, business owners and potential entrepreneurs gathered Thursday morning to learn about what it takes to build a business incubator in the city.
“Business is the life-blood of any community,” said Mayor Vernon Myers during his introduction at the Business Incubator Lunch and Learn workshop at the Price-Martin Community Center on Thursday.
Over the past several months, city officials have discussed the possible development of a business incubator, a facility that would house new businesses and provide secretary and technical services.
After touring a Jacksonville-based business incubator earlier this year, Vice Mayor Mary Lawson Brown and local resident Shirley Edwards coordinated a workshop that aimed to draw interest from local business owners, potential investors and entrepreneurs.
“In order to have an incubator work, it takes the entire community,” said Jackie Perry, executive director of Beaver Street Enterprise Center in Jacksonville.
Perry led the workshop, presenting the key factors that led to the success of Beaver Street. She said the facility began as a volunteer effort and started out with three tenants. Now, in its 11th year, the incubator houses an average of 20 start-up businesses.
She said the goal of a business incubator is to help start-up businesses avoid the risk of failing in its first couple of years because of a lack of knowledge, resources and capital.
“An incubator is like business insurance,” Perry said. “You reduce the risk because the knowledge, resources and capital are there.”
City officials are considering building a facility on a city-owned lot near the corner of 11th and Olive streets. Perry said the government often offers incentives to businesses locating in distressed areas.
Brown said coordinators are seeking grant money to fund the construction of the facility, but would like to enlist the help of business partners who could help supply office equipment and furniture.
Perry said it was important for the city to conduct “a visibility study” to determine the amount of interest and support there is for a business incubator in the city.
About 35 people attended the workshop on Thursday.
Perry also said it was important to look for grant money and donations.
“(Beaver Street) got a small-business loan,” she said. “It was already challenging to make our operational budget, and then you add a mortgage. I wish we did that a little differently.”
Businesses would be expected to pay for the rent and services provided at the business incubator, but Perry said there are many opportunities to collaborate with local schools and businesses for free services as well.
Brown and Edwards took Perry on a tour of the city, including the lot where the city is considering building the business incubator. After the tour, Perry was presented with a key to the city.
Commissioner Allegra Kitchens joined Myers and Brown at the workshop, along with Putnam County Tax Collector Linda Myers, City Manager Michael Czymbor, City Clerk Betsy Driggers, Assistant City Clerk Vicki Young and political candidates Justin Campbell and Terrill Hill.
aaikins@palatkadailynews.com