UCF, St. Cloud, Osceola County to Host Grand Opening April 28 for New Business Incubator

ST. CLOUD, Fla. - University of Central Florida, The City of St. Cloud and Osceola County officials will participate in the grand opening of the new UCF Business Incubator–St. Cloud facility at 3201 Budinger Ave. in St Cloud on April 28 from 4 to 6 p.m.

Gordon Hogan, director of operations for the UCF Business Incubation Program, said the new 14,000 square foot facility will launch an exciting new addition to economic development activity in Osceola County.

Four incubation client companies plan to locate offices in the new facility immediately, Hogan said, and the UCF Business Incubation Program expects to name a full time site manager within the next 30 days.

Eventually, the UCF Business Incubator-St. Cloud could accommodate as many as 20 client companies.

“We provide a wide range of services that accelerate the growth of promising young companies so they can play a greater role in economic expansion in the local area,” Hogan explained.

The UCF Business Incubation Program currently supports nearly 90 full-time client companies, Hogan said, and ranks as one of the premier university-based incubation programs in the U.S.

Since 1999, the UCF Business Incubation Program has helped more than 140 emerging companies generate more than $800 million in annual revenues and more than 1,600 new jobs with an average salary of $59,000,” Dr. Tom O’Neal, founder of the UCF Business Incubation Program, said.

Incubators are a great place to start a new company. They significantly increase your chances of success. In fact, research has shown that 87 percent of incubator graduates are still in business five years after graduating from an incubation program.

“In these tough economic times, it is essential to grow our own companies. The new UCF St. Cloud incubator is not only a great resource for our entrepreneurs, but also a great tool to add to our economic development tool box,” said Maria Grulich Toumazos, Osceola County Economic Development Administrator.

“St. Cloud is very excited to have one of the premiere incubation programs in the country in St. Cloud. The UCF Business Incubator-St. Cloud will not only assist in growing our own companies, but will help to achieve the long-time goal of diversification in the local job markets and the overall economy,” said Ernie Gearhart, Economic Development Consultant for the City of St. Cloud.

The St. Cloud incubator facility is one of seven in the University of Central Florida’s Business Incubation program. Additional incubator facilities are located at UCF Campus, Research Park in east Orlando, and in Orlando, Sanford, Winter Springs and Leesburg.
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For more information about this release, contact:Gordon Hogan, Director of Operations, UCF Business Incubation Program, 407-882-1577, ghogan@mail.ucf.edu; 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 Business Incubation Program:Since its founding in 1999, the UCF Business Incubation Program has helped more than 140 emerging companies (including more than 90 current clients) create over $800 million in annual revenue and more than 1600 new jobs with an average salary of $59,000. With seven facilities across the Greater Orlando community, the Incubation Program is a collaboration in economic development between the University of Central Florida, Orange County, the City of Orlando, Seminole County, the City of Winter Springs, The City of Sanford, Lake County, the City of Leesburg, Osceola County and the City of St. Cloud, and the Florida High Tech Corridor Council. For more information, please visit www.incubator.ucf.edu.