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• <br /> ELK RIVER ECONOMIC DEVELOPMENT AUTHORITY <br /> • <br /> • MEMORANDUM <br /> • <br /> • TO: Economic Development Authority <br /> FROM • William Rubin, Executive Direct 4\f r . <br /> V v <br /> DATE: .February 12, 1996 <br /> SUBJECT: Agenda Memo for February.12, 1996, <br /> - • • • EDA Meeting • <br /> EDA Agenda Memo - <br /> February 12, 1996 Page 2 <br /> 9. • • Business Incubator . <br /> An opportunity was recently extended to attend an open house and <br /> - <br /> tour of what appears to be a successful business incubator in Columbia <br /> Heights, Minnesota. Previously, the Elk River EDA explored the. . <br /> concept of a business incubator in the early 1990's. By definition, an <br /> incubator is intended to provide low-cost space for newly-formed or <br /> emerging companies. Companies obtain discounted office and <br /> production space, and often times, they are able to obtain clerical <br /> services, business counseling services, and tooling and machining <br /> space in the same facility. As companies complete their R & D phase, • <br /> they are expected to leave the incubator and relocate into space that is <br /> • more market rate. Another option, however, is for the company to • <br /> remain in the incubator, but to begin paying market rate for its space. <br /> • <br /> 01 <br />