No top menu
<!-- no script -->
|
|
UT ceremony starts ‘building new economy’ |
| By
Jacob Corkins |
|
Nov 3, 2008
|
|
 |
| On hand for the ceremonial groundbreaking for UT’s new business incubator were, from left, U.S. Congresswoman Marcy Kaptur, Main Campus Provost and Executive Vice President for Academic Affairs Rosemary Haggett, UT supporter Norman Nitschke and U.S. Department of Commerce, Economic Development Administration representative Robert Hickey. |
The University of Toledo broke ground last Thursday for a new business incubator and celebrated a $2 million grant awarded by the U.S. Department of Commerce, Economic Development Administration (EDA).
“This is the kind of day that signifies the connection between the University and the community,” said UT President Lloyd Jacobs. “The dedication to build the business incubator speaks to UT’s commitment to that connection and the world around it.”
The new 40,000-square-foot building will be used to provide support for new startup businesses. The University’s program already has helped create 100 new jobs with startup companies, including the solar panel manufacturing company Xunlight Corp.
After the completion of the building, projected in fall 2009, the incubator could create about 800 more jobs in northwest Ohio, according to EDA representative Robert Hickey.
“This was the No. 1 project of the EDA to fund because of the high level of commitment by the University and community,” Hickey said. “It is that kind of commitment that makes projects like this one successful.”
The federal dollars will be matched by state and local funds, including $1.5 million from UT supporter Norman Nitschke, making it a $4 million project.
“The building will serve as a focal point for incubation and business development to help Toledo and these businesses survive during tough economic times,” Nitschke said.
Nitschke also has provided funding for the University’s engineering program.
Through the efforts of supporters like Nitschke, the office space and laboratories that will be housed in the building move the University toward its goal to help grow, diversify and transform the local economy.
“This region that built the real wealth of the nation has been pounded by hard economic times,” U.S. Rep. Marcy Kaptur said. “Now we’re not talking about a new economy; we’re building it.”
|
|
| |
|
|
|
|
|
|
|
|
|
|
