Macomb-OU business incubator gets $250,000 grant

metromode, 4/9/2009

Large chunks of money are rolling into the Macomb-OU INCubator. First came a $282,000 federal earmark, and then another $250,000 from the Michigan Economic Development Corporation.

David Spencer, executive director of the Macomb-OU INCubator, expects another $385,000 will be coming from the feds later this spring. All of which is going to help defray the $1.68 million budget needed for its first three years of operation.

A partnership between Macomb County, Sterling Heights, and Oakland University launched the incubator last year. It is located on 15 Mile Road in Sterling Heights and is getting ready to open to its first businesses.

"We are finishing work on preparing the site," Spencer says.

The Macomb-OU INCubator hasn't landed any tenants yet. However, it's targeting technology companies in the defense, security, alternative energy, advanced manufacturing, and life sciences industries. It's also looking for a helping hand from the corporate world, too.

"We will be reaching out to area corporations to work with us as potential sponsors," Spencer says. "Those sponsorships can be in the $50,000-$75,000 range."

Source: David Spencer, executive director of the Macomb-OU INCubator
Writer: Jon Zemke