| For more information about the Casper Area Business Innovation Center Please Call CAEDA 307.577.7011 |
Casper Area Business Innovation Center
"Developing the Casper Area Business
Innovation Center"
For More Information Please Contact
CAEDA at 307.577.7011
A business incubator is a set of programs, services, and facilities that collectively support the successful development and growth of start-up and early stage companies.
Business incubation is a process that increases the long-term success of start-up and early stage companies by providing entrepreneurs with needed resources and services.
Why an Incubator
• Grow new businesses
• Create jobs
• Encourage the growth and development of local businesses
• Diversify and strengthen local economies
• Nurture entrepreneurial pursuits and investment
• Commercialize new technologies
• Encourage the increased use of technology
• Offer business retention, expansion, and assistance services to existing firms
• Attract businesses to an area
The Model
• The Innovation Center will be debt fee
• The Innovation Center is designed for self-sufficiency
• Tenants will pay market lease rates
• The incubator building must generate rent to support the staff, programs, and operation of the building
• Professional staff will be recruited to manage the incubator
• Anchor tenants will have skills and access to technology that will contribute to the success of the incubator
Measures of Success*
• Average number of clients in the incubator: 13
• Average number of graduate firms after 5 years of operations: 22
• Average number of jobs created per firm:13
• Average number of direct jobs attributed to incubator firms: 455
*These measures were compiled using data from the National Business Incubator Association and the feasibility study.
Required Funding
• Renovation of the Amoco Building and Construction of a 27,540 sq feet • Start-up and short-term operation ($450k)
• Technology
• Furnishings for the facility
The Building
• Amoco Administration Building: 11,679 sq feet
• New Construction 27,540 sq feet
• Total: 39,465 sq feet
• 29 single suites
• 19 small suites
• 2 large suites
• 1 wet lab
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