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Janesville looking to attract, grow businesses through new incubator

JANESVILLE — The city of Janesville is adding a new item to its economic-development toolbox, one officials hope will build a stronger economy from the bottom up.

A $1.2 million federal construction grant and $400,000 from a city tax incremental finance fund will help build a new 24,000-square-foot business incubator, expected to open in early 2012. The building is slated for a vacant, city-owned lot at Beloit Avenue and Venture Drive.

An incubator that helps businesses get on their feet is a useful tool for promoting Janesville as a business location, said Vic Grassman, economic development director for the city.

“We’re saying that if you choose Janesville, we’ll get your building in the ground faster than anybody else,” Grassman said.

The incubator is aimed at manufacturing businesses.

“Manufacturing is part of the Janesville tradition,” Grassman said. “I certainly think there’s a lot of employees in the Janesville area (with manufacturing experience).”

The building will be designed with 4,000 square feet for office space and 20,000 square feet of open space.

Forward Janesville President John Beckord said the hope is to get potential entrepreneurs to take the next step, knowing that help is available.

Read the full story in Oct. 3, 2010 the e-edition of The Janesville Messenger, HERE.