Beaver Street Enterprise Center Named Finalist for International Award

The Beaver Street Enterprise Center (BSEC) has been named a finalist for the National Business Incubation Association’s 2010 Incubator of the Year award in the nontechnology category. The winner of the prestigious award, selected from thousands of programs around the world, will be announced May 18 at NBIA’s International Conference on Business Incubation in Orlando, Fla.

The mission of BSEC is to promote and enhance entrepreneurship, economic growth and job creation in Jacksonville’s core city. The program’s goal is to restore economic health and revitalize neighborhoods by growing jobs and providing opportunities to local residents.

In 2009, even within a recessed economy, BSEC created 89 jobs, retained 270 jobs and produced $9.3 million in collective revenues from its clients and tenants. In 2010, because of its success, BSEC was awarded a CDBG-R grant to expand its facilities and was unanimously approved for a Northwest Jacksonville Economic Development Trust Fund loan.

Business incubation programs like BSEC catalyze the process of starting and growing companies by providing entrepreneurs with the expertise, networks and tools they need to make their ventures successful. NBIA estimates that in 2005 alone, North American incubators assisted more than 27,000 start-up companies that provided full-time employment for more than 100,000 workers and generated annual revenue of more than $17 billion. Approximately 7,000 business incubators operate worldwide.

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