A business incubator typically houses a handful of small businesses that benefit from working together and learning about business growth and development from each other, said Philippe Chino, executive director of CCEDC.
"This is one of the best ways to diversify an economy," Chino said. "We are providing a vehicle for very small businesses to be successful."
A new task force has been created and will begin looking for land on which the incubator will be built, Chino said.
Once complete, the 30,000 square-foot incubator will be known as the Wyoming Technology Business Center — Gillette. The facility will be the third Wyoming Technology Business Center incubator in the state, with the other two located in Laramie and Sheridan.
"It's going to constantly create new companies that will create new jobs," Chino said. "The incubator allows entrepreneurs to be located in the incubator for three to five years."
At that point, the businesses should be well-established and able to move into their own facilities. In Laramie, roughly four to five businesses have started up in the business incubator and have since moved on to new locations.
"It will provide a permanent presence for the University of Wyoming," Chino said. "It will create opportunities."
Task force members hope to have the estimated $6- to $8-million facility completed in the next three years. Chino said he expects 60 to 70 percent of the building to already be leased to businesses before the building is even complete.
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