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Local Compames Updated 11 38 pm Minority firms gaming
footing at UT Incubator ?
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Local Companies Updated 11 35 pm Foreclosure halt sought on buildings
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Article published February 15, 2St1
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Minority firms gaining footing at UT incubator
By SHEENA HARRISON
BLADE BUSINESS WRITER
The University of Toledo has played a key role in the growth of Thomas BeNey's business, he
said
Bebley Enterprises Inc.. an
industnal cleaning and
Peak Electnc owner Hilton HcIntyre, leff,
maintenance company, is one of and employee Joe Church study plans at
several businesses at the
Riverside School, under construction in
university's Minonty Business North Toledo. Hr Hdntyre says he
Development Center. an incubator often brainstorms with others at the LIT
meant to help bolster growth of Incubator
local mmonty-owned companies ( THE BLADE/JETrA FRASER )
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General Business Updated 11 29 pm Toy makers expect big films to bring them profits
Automotive Updated 11 26 pm Salaried staff at GM In line for bonuses of 50% or more ?
Economy Updated 11 23 pm Job situation has become one of haves and have nots
Retail Updated 9 52 pm Bankruptcy flhng expected from Borders ?
Here business stories SPECIAL FEATURE
Since moving into the incubator eady last year, Mr Bebley stud, he has been able to discuss ideas w?th hke-minded entrepreneurs and recewe business assistance that has helped his company expand In turn, he said, that support recently helped him to be selected as a subcontractor for framing work at Toledo's Hollywood Casino, scheduled to open next year
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"The thing that resonates most with us is the collaborative environment here in the incubator," said Mr BeNey, who has 20 employees
Since opening in September, 2009, UT's Mmordy Business Development Center, at Ihe Scott Park Campus of Energy and Innovation, has grown to house six compames as well as the Toledo Afncan-Amencan Bureau of Commerce and the Northwest Ohio Hlspamc Chamber of Commerce Together, the businesses have hired 44 employees and generated sales of $2 2 mdlion m the last six months
The center has room for two additional businesses and launched a membersNp program Monday that allows companies to use the incubator's resources for $50 a month wdhout renting office space
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? Minority firms gaining footing at UT incubator
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Milton Mclntyre, owner of Peak Electric Inc, shares office space with Bebley Enterprises at the incubator and said the companies often brainstorm ways to lure business
"We bounce ideas off each other and we're aware of what's coming in, as far as construction is cencemed," said Mr Mclntyre, whose electrical centrecllng business has seven employees and had sales of about $1 mtthon last year
Benehls of the incubalor program include business planning assistance and coaching, opportunities to meet with unwersity faculty and staff, free
advertlsement?#
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?AID=/2? ? ? ?2 ? 5/BUSINESS?3/? ?2 ? 4???. 2/15/2011
-- The Blade ~ Toledo Ohio
Page 2 of 3
use of office equipment, and access to student workers - some of whom the compames have Nred as full-time employees
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"The center is what we consider an ideal opportunity to not only reach out to the minodty business commumty, but to welcome economic growth," said Shanda Gore, the center's director and UT assistant vice president for equity and dwersity "It truly fosters an enwronment that offers assistance and relahonsNp building, which is a cornerstone to any successful business"
The center, modeled after UT's alternahve-energy and Informahontechnology incubators, alms to help minonty-owned busmesses graduate within three years of arrival
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"The emphasis here is not only to have them grow out of the space and Ihe needs and the services that we have, but that they'll pay it forward and contnbute as alumni back to those that are In the development center," she said
Companies must apply to open an office at the center, and space is limited to companies in the professional services, light manufactunng, and general construction sectors Applicants typically need a business plan, four to six months of workmg capital, and an mtenlion to stay in the area
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? GOP mocks Obama's 2012 budget for Nnodng deficit as House debates even deeper cuts for 2011 ? Further nse In Chfnese, Bnttsh inflation weighs on markets ahead of US retail sales figures ? Deficit is biggest as share of economy since WWII, economists fear a domrno effect later
^P Sports Headlines
Oona Temple's company, Cosine Technical Group LLC, could be one of the first to graduate from the Incubator Her staffing and recrudment firm was the center's first tenant, stading with 125 square feet and two employees Today, the firm has a 730-square-foot office and 11 employees
Cosine doubled its sales last year -- although =t wouldn't disclose the amount -- and recently was accepted as a vendor for General Eleetrlc's aviation division after GE was featured at a fall symposium on UT's campus
Toledo: Job Scams (EXPOSED)
We Inveshgated Work At Home Jobs And What We Found May Shock You
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Ms Temple, who began working full time with her company in 2007, said the incubator allowed Cosine to grow beyond a home-based business "It kind of helped get me out of the basement," she sa?d
Top AP Btlslness Articles FAA says US aINnes will carry 1 billion passengers by 2021, faster than it had forecast
? 'Jeopardyl' pds man agamst compuler m Round 1 as the computer proves a powerful opponent
Contact Sheena Harnson at shardson@theblade com or 419-724-6103
Stocks headed slightly rowel as investors await reports on retail sales, business
inventor les
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Defiot ?s biggest as share of economy since WWlI, economlsts fear a domlno effect later Rise in UK'S consumer price Inflation rate m
January adds pressure to hike interest rates
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Eurozone's economy expanded for second straight quarter In last 3 montlts of 2010 &-3rclays' 2010 profit up as bad loan charges
Posted by NotAgaln
Posted 1 hour and 46 minutes ago
1 3
decrease, total bonuses paid out to shnnk Fourth quarter's 0 ?1 percent growth Is slower than in Bilrd but shows recovery still
Failure not an option
How can you fail when you get everything handed to you on a sdver platter (3-years office space, contracts, consultabon, elc ) Where do I sign up?
strong OII rises above $85 in Asia as traders eye Iran, Middle East protests Singapore Exchange moves to make proposed takeover of Australian counterpart
more palatable
Marriott announces 4Q results and plan to
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spht Into separate hotel, timeshare companies
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-- The Blade - Toledo Ohio
Page 3 of 3
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