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.
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