Dade City, Florida — On February 19, Pasco County Commissioners demonstrated their commitment to small business and job creation in Pasco County by approving $100,000 for the County’s first business incubator. The business incubator will be located in the Dade City Business Center and managed by a team led by the Pasco Economic Development Council, Inc.
“The incubator project is picking up steam all over Pasco County and even the region,” said John Hagen, Pasco EDC President/CEO. “We’re getting calls from people all over Tampa Bay.”
According to the Small Business Administration (SBA), only 20 percent of new businesses are still in operation after the first five years. In contrast, a U.S. Economic Development Administration funded study concluded that 87 percent of all businesses graduating from an incubator remain in business after five years. Pasco EDC’s goal is to work with new entrepreneurs and scalable start-up companies in the incubator in Pasco County and help them build their businesses from the ground up.
Pasco EDC has promised $50,000 and has secured $50,000 for the new incubator from the City of Dade City. It is partnering with Saint Leo University, the Greater Dade City Chamber of Commerce, and the USF Small Business Development Center to provide technical assistance to incubator residents. Pasco EDC has been laying the groundwork for entrepreneurs over the last year through its Pasco Enterprise Network (PEN), a collaborative effort of organizations committed to ensuring the success of small businesses in Pasco County. The PEN partners provide consulting, counseling, education, and technical assistance in a variety of areas and subjects to small businesses in the County.
“The Board of County Commissioners is excited to see a business incubator start-up in Pasco County,” said Commissioner Ted Schrader. “Incubators provide the training, support, facilities and network needed to assist with the success of a start-up business. We are glad to be a part of bringing this kind of opportunity home to Pasco County.”
Pasco EDC is a non-profit organization that promotes economic development in Pasco County, Florida. Pasco EDC continues to be a strong partnership funded by corporate and public investors focused on the economic vitality of Pasco County.