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Establish a high‐quality, technical assistance incubator to boost effective business start‐ups in Yakima.
An incubator is a resource for entrepreneurs that helps to lower the barrier to entry for business start‐ ups. Locally “grown” businesses are more likely to stay and grow where they originate, thus providing an avenue for job creation that compliments local business expansion and new business attraction efforts. An incubator could also become a destination asset in Yakima, depending on the goods and services produced by target occupants.
Tactics – Incubator
- Research and tour example incubators
- Define scope of incubator/Mercado: commercial kitchen, brewery, winery, public market, tie to targets
- Define potential locations and design
- Business plan for incubator model – including management and technical assistance responsibilities
- Target occupants
- Needs of target occupants
- Equipment provided (i.e. commercial kitchen)
- Technical assistance provided
- Protocols for occupants – eligibility, requirements, length of stay, etc.
- Application criteria and process for prospective occupants
- Budget for defined scope
- Feasibility study for defined scope
- Identify resources (i.e. Economic Development Administration, CERB, SIED)
- Pursue grants that align with business plan and incubator model
- Develop physical space
- Hire incubator manager
- Market and solicit occupants
- Provide technical assistance to occupants
- Graduate successful companies
- Measure economic impact of results
Core Working Group – Incubator
|City of Yakima – Economic Development Department
|City of Yakima – City Manager
Downtown Association of Yakima
Greater Yakima Chamber of Commerce
Hispanic Chamber of Commerce of Yakima
Rural Community Development Resources
|Small Business Development Center
US Economic Development Administration