ISU Trustees to vote on Trail East Incubator

Posted on July 22, 2019
Trail East
The incubator would be housed in 10,418 square feet of space with classrooms, event space, conference rooms, a lobby, and reception area. (Photo Bush Construction, Farnsworth Group, and Town of Normal)

 

By Howard Packowitz

NORMAL – Illinois State University plans to rent space in the yet-to-be constructed Trail East building in Uptown Normal for a small business incubator.

ISU’s Board of Trustees will vote Friday whether to pay up to $840,000, or $14,000 a month for the first five years, to developer Bush Construction.  A staff report to the governing board said the university will also be responsible for operational costs, estimated at $110,000 a year.  ISU intends to seek grant money to help with funding.

The incubator would be housed in 10,418 square feet of space with classrooms, event space, conference rooms, a lobby, and reception area.

ISU plans on using the incubator to provide for entrepreneurs low-cost office space, mentoring, networking events, and access to funding sources.  There would also be internship opportunities for ISU students.

The incubator would open in late 2020 or early 2021.

Howard Packowitz can be reached at [email protected]

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