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Elizabeth Rook, Sponsor Chair - Main Street Arlington hasn't added a story.
In an effort to foster economic revitalization, Main Street Arlington is proud to announce the launch of a Depot Square Business Incubator Program beginning in May 2015. This program will not only attract new business to the Depot Square, but it will also help start-ups to survive the first two critical years.
Statistics show that over 80% of businesses fail during the first year of operation la...rgely due to cash flow issues. Rent is typically the largest fixed expense for nearly all start-up businesses. The incubator program is designed to subsidize the rent cost (up to 75%) for a start-up business over the first two years of operation.
The program also aims to help the incubated business with other support activities from the broader Arlington business community, such as bookkeeping, landscaping, build-out, etc. The result of the program should lead the now established business to move into a permanent structure or perhaps even construct a new building in our historic district after the two-year subsidy is complete.
Main Street Arlington aspires to invest at least $20,000 into the program by May 2015. Consequently, all sponsorship dollars received from Arlington in April 2015 will be invested into the program to help get it off the ground.
Look for more information on the program in February.
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