Utah Valley University this week is unveiling a new business incubator, described by officials as "a greenhouse where the seeds of economic activity are sown and nourished."
Gov. Gary Herbert is expected to attend Friday’s ribbon cutting for the Business Resource Center, in a former Orem car dealership, 815 W. 1250 South.
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UVU Business Resource Center
Gov. Gary Herbert will help cut the ribbon Friday at 11 a.m. at the new center, in a former Saturn dealership in Orem, 815 W. 1250 South.
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"The BRC really exists to help, create and grow companies and jobs, and to assist in retaining existing businesses and recruiting new enterprises to Utah. But it will also have the indirect effect of helping UVU students to gain marketable skills and build their résumés," said a news release quoting Steve Roy, associate vice president for economic development.
The 25,000-square-foot center houses several economic development organizations, such as the Manufacturing Extension Partnership of Utah, UVU’s Technology Commercialization Office, USTAR, and Small Business Development Center. With its 11 incubator pods, conferences rooms and library, the new center will serve as a "one-stop-shop" for entrepreneurs in Summit, Utah and Wasatch counties.
Officials say higher education serves as an economic driver in Utah, generating several dollars of activity for every tax dollar invested on the state’s campuses.
A recent economic analysis, for example, found UVU generates nearly an 8-to-1 return on public investment, for an annual total of $534 million.
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