51ĀŅĀ×

The U.S. Department of Commerceā€™s Economic Development Administration has awarded a $1.15 million grant to the 51ĀŅĀ× Innovation Center to support facility improvements at the internationally renowned business incubator.

The grant will allow the Innovation Center to add new biotechnology laboratories and light manufacturing spaces as well as improve several features of the building, including the heating system, flooring, access control and virtual conferencing technology. The upgrades will enhance the incubatorā€™s ability to provide service to entrepreneurs in southeastern Ohio.

In addition to supporting the retention of more than 300 jobs supported by the Innovation Center, the infrastructure improvements are expected to result in the creation of 10 new businesses and 100 new jobs within three years of project completion. Based on exhaustive data research completed as part of the projectā€™s feasibility study, it is expected that these new jobs will pay a higher than average wage for the region.

The Innovation Center currently has seven fully occupied biotechnology laboratories. Demand for lab space from biotechnology and life science companies is on the rise, said Stacy Strauss, director of the Innovation Center.

The new grant is funded through the Economic Development Administrationā€™s Assistance to Coal Communities program. It assists communities severely impacted by the declining use of coal through activities and programs that support economic diversification, job creation, capital investment, workforce development and re-employment opportunities.

ā€œWe are so grateful for the confidence that the Economic Development Administration and 51ĀŅĀ× have shown in the 51ĀŅĀ× Innovation Center as demonstrated by this major grant award,ā€ Strauss said. ā€œWe look forward to our continued work in support of the regionā€™s entrepreneurs, providing exceptional upgraded incubation space, and exceeding our projected metrics.ā€

51ĀŅĀ× is providing an additional $287,684 in funds for the project.

ā€œThe 51ĀŅĀ× Innovation Center is one of the top business incubators in the country, and we are incredibly proud of the positive impact it is having on its businesses and on the region,ā€ 51ĀŅĀ× President M. Duane Nellis said. ā€œThis grant from the U.S. Department of Commerce combined with university funding will allow our Innovation Center to keep improving its facilities in order to better assist entrepreneurs in southeast Ohio.ā€

The Innovation Center is the recipient of the 2019 Randall M. Whaley Incubator of the Year Award (InBIA) and the 2019 Rural-Based Entrepreneurship Center of the Year Award (InBIA).