HomeMy WebLinkAboutResolutions - 2012.08.23 - 20523MISCELLANEOUS RESOLUTION # 12217 Mc6p LA.; vkAti *424c nTj " L't
BY: Commissioner David Woodward, District #18 J
IN RE: BOARD OF COMMISSIONERS — OAKLAND COUNTY BUSINESS INCUBATOR
PROGRAM INITIATIVE
To the Oakland County Board of Commissioners
Chairperson, Ladies and Gentlemen:
WHEREAS Oakland County is interested in providing healthy economic development
opportunities to entrepreneurs seeking to start up a new business and assisting small business
owners in becoming successful; and
WHEREAS a business incubator program offers an opportunity to have a positive impact on a
community's economic health by maximizing the success of emerging companies and business
incubators are a dynamic model of a sustainable, efficient business operation; and
WHEREAS a business incubation program works with new companies; screens potential clients
based on set selection criteria; provides comprehensive business assistance services; has on-
site management that coordinates the delivery of services; and graduates companies from the
program; and
WHEREAS in North America there are over 1,100 business incubators operating, with 94%
operating as non-profits; and
WHEREAS business incubator programs create local jobs; foster an entrepreneurial climate;
diversify local economies; build/accelerate local industry group; retain firms in a community;
encourage minority and women entrepreneurship; generate revenue; identify potential spin-ins
or spin-outs; generate benefits for sponsors; revitalize distressed neighborhoods and move
people from welfare to work; and
WHEREAS business incubator programs have demonstrated that 84% of the graduates stay in
the community, while providing an increased likelihood of business success, with 87% of the
incubator graduates staying in business; and
WHEREAS business incubator programs have achieved a return on investment where every $1
of public investment in the incubator program results in $30 in local tax revenue; and
WHEREAS it would demonstrate an earnest commitment to assisting local entrepreneurs for
Oakland County to establish the Oakland County Business Incubator Program to help support
higher education, local economic development organizations and countywide economic develop
efforts.
NOW THEREFORE BE IT RESOLVED that the Oakland County Board of Commissioners,
hereby establishes the Oakland County Business Incubator Program.
BE IT FURTHER RESOLVED that the Oakland County Board of Commissioners hereby
designates $100,000 to fund the Oakland County Business Incubator Program to provide
funding to hire consultants to complete feasibility studies for new incubator businesses.
BE IT FURTHER RESOLVED that the funding will also be used to establish a program to match
the funding of studies in an amount not to exceed $30,000 per feasibility study, based upon the
recommendation of the Oakland County Economic Development and Community Affairs
Department and approval by the Oakland County Board of Commissioners.
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District #
Commissioner
District #
r ve the /option of the foregoing resolution.
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Cornmissqon0
District # 24-
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Commissioner David Woodward
District #18
Commission
District #
Commissioner
District #
Commissioner
District #
Commissioner
District #
Commissioner
District #
BE IT FURTHER RESOLVED that the Oakland County Clerk/Register of Deeds is requested
to forward copies of this adopted resolution to the Oakland County Economic Development and
Community Affairs Department and Oakland County Management and Budget Department.
Commissioner Commissioner
District # District #
Commissioner Commissioner
District # District #
Commissioner Commissioner
District # District #
Commissioner Commissioner
District # District #
Resolution #12217 August 23, 2012
The Chairperson referred the resolution to the Planning and Building Committee. There were no
objections.