Friday, July 13, 2012

Silicon Valley incubators feel the pain of redevelopment's demise

(Silicon Valley/San Jose Business Journal subscription required.)
The city’s redevelopment agency has put about $856,000 annually toward the leases of the BioCenter incubator for life sciences companies in South San Jose, as well as the Innovation Center at Third and Santa Clara streets downtown. But the state dissolved redevelopment agencies as of February, and now the city is working to end its subsidy of the programs.
The two incubators have served as a low-cost first home for many startups, who ultimately may have to pay more or relocate to new locations. The Innovation Center also houses programs to help small businesses, like an office for the U.S. Small Business Association, who may also have to find new spaces.

No comments:

Post a Comment