Title
Future Direction of the Gainesville Enterprise Technology Center (NB)
During the past several months Commissioner Scherwin Henry has facilitated a discussion with various community members and stakeholders to explore future programming and operations of GTEC. Commissioner Henry will review the issues discussed and will provide recommendations for the City Commission's consideration.
Explanation
Community members celebrated 10 years of success for Gainesville's Technology Enterprise Center in 2011. As the City's first business incubator, occupants of GTEC have been provided programmatic assistance and space to develop early stage technological enterprises into companies with robust payrolls and successful products. Examples of companies which were successfully incubated in GTEC include Sinmat, Axogen and WiPower.
Funding to construct the GTEC building was provided through a financial assistance award from the Federal Economic Development Administration (EDA). The grant requires GTEC to operate as an incubator for 20 years and will need to be repaid in full if the use changes before the end of the 20-year term.
Beginning with the opening of GTEC, the City has contracted with the Gainesville Area Chamber of Commerce to staff and operate the programs in the building. Funding for the Chamber of Commerce's management services included payment for the GTEC staff, operational expenses and a management fee to the Chamber. In early 2011 the Chamber of Commerce coordinated with the CRA to temporarily suspend the provision of the GTEC manager. The Chamber President and CEO, CRA Director and City Manager all agreed that GTEC was at a critical crossroads which required an assessment of the program and facility. The CRA contracted with the Georgia Institute of Technology's Enterprise Innovation Institute to conduct an assessment of GTEC. Recommendations provided by Georgia Tech included additional focus on selecting a facility manager with exceptional ...
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