University of Central Florida Business Incubator to Open at Stevens Plantation in St. Cloud Early Next Year

University of Central Florida Business Incubator to Open at Stevens Plantation in St. Cloud Early Next Year

New Facility to break ground Thursday, Aug. 13, opening set for early 2010

ORLANDO, Fla. - The University of Central Florida Business Incubation Program, which currently serves nearly 70 client companies at facilities in the Central Florida Research Park adjacent to the UCF campus, on East Colonial (S.R. 50) near downtown Orlando, in Winter Springs, Sanford, and Leesburg, has formed a joint partnership with the City of St. Cloud and Osceola County to develop a Business Incubator facility at Stevens Plantation in St. Cloud.

Dr. Tom O’Neal, executive director of the UCF Business Incubation Program, said a groundbreaking for the new St. Cloud Business Incubator is set for Thursday, Aug. 13, from 2 to 3 p.m. at West Nolte Rd. and Budinger Ave. in St. Cloud.

Successful business incubators have proved to be the most cost-effective strategy to generate local economic development, according to a recent national study.

Dr. O’Neal said the UCF/St. Cloud/Osceola County Business Incubator has leased 14,000 square feet of office space in the new facility, which will open during the first quarter of next year.

“Our goal in developing the UCF/St. Cloud/Osceola County Business Incubator is to empower new business and industry in the local area and to generate new jobs,” Dr. O’Neal said.

For more information about this release contact:
Dr. Tom O’Neal, Executive Director, UCF Business Incubation Program, 407 882-1120, oneal@mail.ucf.edu

Larry Vershel or Beth Payan, Larry Vershel Communications, 407-644-4142 or LvershelCo@aol.com

About the UCF Incubation Program:
Since its founding in 1999, the UCF Business Incubation Program has helped more than 100 emerging companies (including nearly 70 current clients) create over $500 million in annual revenue and more than 1600 new jobs with an average salary of $59,000. With five facilities across the Greater Orlando community, the Incubation Program is a collaboration in economic development between the University of Central Florida, the City of Orlando, Orange County, Seminole County, the City of Winter Springs, Lake County, the City of Leesburg and the Florida High Tech Corridor Council. For more information, please visit www.incubator.ucf.edu.