Issue: Funding of $2 million for the development and creation of the Bloomington-Normal Business Incubator and One-Stop Business Development Center OVTF Position: The OVTF endorses the proposal by the Economic Development Council partnering with Illinois State University, the City of Bloomington and the Town of Normal in seeking funding to develop and create this business incubator project. Request directed to: Federal government and State government Background: Recently, a strategic planning committee commissioned by the Economic Development Council of the Bloomington-Normal Area identified the development and establishment of a business incubator as a key strategy in assisting local businesses to grow and prosper in the Bloomington-Normal area. The incubator would be one part of a network of business assistance programs, which would include Illinois State University-affiliated campus organizations that have economic development or research interests. It is also envisioned that other area and local economic development organizations would be located in the business incubator/university research park. Illinois State University is proposing to work with the EDC and communities to establish a business incubator and research park to assist local entrepreneurs and apply research created at the university to potential commercial uses. It is envisioned that the McLean County Business Incubator will assist these clients: Aspiring entrepreneurs, Existing small to medium business owners and Researchers that have the potential to develop commercial enterprises at Illinois State University.
	FOR DETAILED INFORMATION VISIT: www.mediarelations.ilstu.edu/news_releases/0607/july/incubator.asp