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Leesburg Business Incubator Gains County Support | Business

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Leesburg Business Incubator Gains County Support

Loudoun County pledges $100,000 over three years to help underwrite operational costs for new Mason Enterprise Center in Leesburg

From the Town of Leesburg — The Loudoun County Board of Supervisors voted unanimously on Tuesday, September 21, 2010, to appropriate $100,000 to support the new Mason Enterprise Center in downtown Leesburg.  This funding represents half of the local dollar support needed to underwrite the incubator’s initial operating costs.  The Town of Leesburg will provide the other half, for a total of $200,000. After the first three years of operation, the incubator is expected to be financially self-sustaining.

The Leesburg Business Incubator is expected to begin operating at the beginning of October and will be managed by the Mason Enterprise Center (MEC).  The Mason Enterprise Center is a major outreach program of George Mason University’s School of Public Policy, supporting the University’s goals of regional economic development and job creation/retention.  According to Marantha Edwards, Leesburg Economic Development Manager, she and MEC director Keith Segerson have begun interviewing potential client companies for the incubator.   

“Target companies for the incubator are businesses that are in a growth mode,” Marantha explained.  “They’ve established themselves, they have cash flow and their product or service is scalable.  These businesses are in a position to benefit most from the services offered by the business incubator.”

In addition to the client company space, the Leesburg Business Incubator will have telework stations that offer companies and federal agencies the opportunity to allow employees to work closer to home in a secure environment. 

The Leesburg Business Incubator will be temporarily located at 15 North King Street, while its permanent home at 202 Church Street SE is under construction.  Once the building at 202 Church Street is completed, the incubator will occupy 7,140 square feet and will include the offices of the Leesburg Economic Development staff.  The Town is in discussions with the Loudoun Small Business Development Center about co-locating with the incubator.

“We are thrilled with the support from Loudoun County on this project,” said Ara Bagdasarian, chair of the Leesburg Economic Development Commission.  “Now, it’s time to get this incubator rolling and make Leesburg and Loudoun County the BEST place to do business in the country!”