10.0. EDSR 04-08-1996 - Laserfiche WebLink

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• ANOKA COUNTY 1 ....41,A. Niaws A Publication for the Residents of ANOKA Anoka County COUNTY Spring 1996 &NOKA COUNTY "BUSINESS INCUBATOR" AIDS SMALL COMPANIES fob creation model benefits Anoka County and the entire state I Though much of the business news es,an exchange that helps beginning are being attracted to the entire State of eve hear these days focuses on large con- entrepreneurs conserve working capital Minnesota. ;orations,downsizing managerial staff for salaries and other important expendi- ness Hinarlan nr Jacobs, president experienced the Genesbusiis and laying off production workers, the tures. Genesis Business Center in Columbia Genesis helps emerging companies by Business Center,said the incubator Heights—which funnels dollars and advice arranging initial investment funds through shows that public sector/private sector toward small and emerging industries—is progressive community development collaborative efforts really work. 'This is generating good and hopeful news about groups like the Anoka County Capital . a job creation model that practices coo- today's business scene. Fund,which is supported by the Anoka nomic development the old-fashioned The Genesis Business Center, County Board,seven Anoka County way. Unlike economic development pro- formed in 1993 in cooperation with the banks,and Anoka Electric Cooperative. grams that only generate jobs paying min- Anoka County Economic Development Investment funds are important to small imum wages,we produce business careers Part ership(ACEDP), acts as a business business because investment money cre- that pay good,livable salaries" "incubator for start-up high-tech compa- ates equity and often helps an emerging Currently,eight companies have nies. The incubator,when combined with company avoid debt. Genesis and offices in the Genesis Business Center equity investments to start-up companies. ACED?also assist new companies in and develop products ranging from spe- produces a job creation model which is obtaining Minnesota Trade and Economic cialized medical devices to specialty unique in the United States. Development Urban Initiative Fund dol- fiber-optic sensor systems. The Genesis Genesis operates on a for-profit tars which target job creation efforts in Business Center is located in the basis and provides small companies with urban areas. Columbia Heights Business Center at fundamental services such as manage- With the Genesis Business Center 3989 Central Ave.N.E. went consulting,financial counseling, offering an attractive,yet practical,busi- office space,and introductions to poten- ness package to emerging companies, tial investors. In return,Genesis receives good jobs are being created in Anoka a percentage of stock in the new business- County and important business ventures 411