The incubator's developer is Contra Costa Economic Partnership, a nonprofit organization with representatives from Contra Costa County, 11 cities within the county and 23 private businesses.
The newly expanded incubator will support approximately 20 startup companies at a time at below-market rents. Tenants are expected to stay in the incubator for two to four years, after which they presumably will be financially strong enough to move out on their own.
Move-in for the new facility is tentatively slated for September. The existing incubator, operating for approximately two years, has taken in tenants that have generated some 300 new jobs and $60 million in venture capital.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
