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TOPIC:	Minority Business Incubator
LOCATION:	Princess Anne, Maryland
CONTACT:

OUTCOME:	Increase in jobs, income and tax base

PROGRAM DESCRIPTION:
The first business incubator was started in 1959 in Batavia, New York. It wasn't until the 1980s, however, that the idea of small business incubators really caught on. Today, there are more than 500 incubators with more than 8,000 clients. About 4,500 graduate firms have moved on to commercial space within their own communities. New incubator programs continue to open at the rate of one per week.
The Rural Development Center, University of Maryland Eastern Shore (UMES) in Princess Anne, Maryland, exemplifies the mission of economic diversification. It aims to diversify the rural economy of Maryland's Eastern Shore in order to increase the area's income, jobs and tax base. The Center has established a minority business incubator to "promote development of local minority-owned businesses with assistance aimed both at start-ups and expansions." The Center located the incubator in downtown Princess Anne to develop the area's merchandising industry. This is a joint project with the Department of Human Ecology (UMES).

The Center's director, Mr. Dan Kuennen, describes the incubator's mission as three-fold:

First, on the business side, the goal is to provide merchandising to meet local demand. Residents currently have to go elsewhere to buy goods.
A second goal is to give students real-world merchandising experience.
Finally, the incubator itself will fill vacant downtown space, help rejuvenate the area and increase marketing traffic.

By fulfilling these goals, the incubator is able to play a positive role in the area's economy.

Questions or comments, contact

Rural Business Service's