In honor of National Small Business Week and as part of her continued efforts to help Central Florida’s small businesses, Congresswoman Suzanne Kosmas (FL-24) today introduced legislation to support small business incubators so they can foster innovation and reduce costs for early-stage businesses. The Early-Stage Business Investment and Incubation (ESBII) Act (HR 5411) will create a national incubator grant program administered by the Economic Development Agency (EDA) to provide grants for incubators that support the development of early-stage small businesses in targeted, high-growth industries.
A 2008 EDA study found that business incubators are an effective public-private approach that produces new jobs at a low cost to the government. According to the study, up to an estimated 70 jobs are created for every $10,000 in EDA funds invested in business incubation programs.
To read the full, original article click on this link: UCF Research and Commercialization
Author: University of Central Florida Research and Commercialization
