Far-reaching economic problems and a town with high unemployment aren’t always ingredients for disaster. When combined with heaps of entrepreneurial spirit, a dash of creativity, and a welcoming and warm place for dreams to be realized, otherwise negative factors can become a recipe for success.

 Tattler Canning Lids, produced by S&S Innovations of Grand Junction, Colorado, was baked-up in just such a place. A struggling yet passionate entrepreneur, Brad Steig, had a desire to carry on his father’s legacy of manufacturing and marketing reusable canning lids. He just lacked a little business-knowhow and a place to create his American dream.  He found exactly what he needed in Grand Junction’s Business Incubator Center (BIC). After moving his home-based enterprise to the highly versatile spaces offered by the BIC, Brad Steig now enjoys a booming business with a diverse clientele, and an ever-increasing workforce. Tattler Canning Lids have far exceeded initial sales projections, and with Internet sales and traditional retailers now onboard, it appears that S&S Innovations has almost limitless potential. 

Grand Junction, a beautiful and complex community located in Western Colorado between towering mountains and the red rocks of the high desert, has more to offer than great recreation and  thrilling vistas, it is home to one of the foremost economic solution-based undertakings in America. The Business Incubator Center helps entrepreneurs, such as Brad Steig, give birth to successful companies. 

We think of an “incubator” as a place where newborn babies receive nurturing so they may become stronger and more fit for the world. The BIC serves exactly the same purpose for the American Dream.  It is open to anyone who has an idea and needs a little education about creating a business, as well as those who already have a business model in place and require access to existing facilities prior to launching a fully independent operation. 

The BIC is hardly a fanciful notion that arose from the desperate economic concerns of the past few years. It has been a fixture of the Grand Junction business scene for 25 years, and is known as the “go to” place for all types of fledgling entrepreneurs, from agriculture to construction, and retail to the food-service industry. During its history, BIC has helped launch over 260 companies in the Grand Junction area. Many of those businesses grew out of the “Incubator Tenant-Client Program,” including 9 within the last year. As an example of its impact, these 9 BIC-originated companies have directly employed more than 110 people, and have lead to the creation of an additional 234 jobs in the community.

The BIC campus offers highly adaptable facilities which accommodate budding businesses. There are 63 interests now taking advantage of these spaces, which can be used for manufacturing, technology, commercial food service, and other small-business operations. 

The BIC’s proven model for launching emerging companies earned it recognition as one of the “50 best-practice incubators for entrepreneurial business support” IN THE WORLD.  And it boasts an impressive 80% success rate for the companies it has served.

Entrepreneurs may not require the BIC to provide a facility for production, but creating and marketing a new product or service always requires a broad knowledge-base. The Small Business Development Center, instituted within BIC, offers business coaching, seminars, classes in issues such as government contracting and business fraud, as well as consultation on a variety of topics. Hundreds of clients benefit from this additional level of expertise. In 2011 the services provided by the Small Business Development Center brought about the creation of over 110 jobs, lead to 29 business start-ups, created $3.8 million in capital, $900K in private contracts, and $1.6 million in Department of Defense prime contracts. 

To top off the ingredients that make the American Dream possible, BIC administers small-business funding through the Revolving Loan Fund of Mesa County. This loan fund combines grants with funds from the City of Grand Junction, the town of Fruita, the Economic Development Administration, the Colorado Women’s Foundation, as well as private donors. These small business loans have lead to the creation of hundreds of businesses and nearly 1,800 jobs. 

Unemployment and economic hardship have left no corner of our nation untouched. Despite this, the American Dream is alive and well in the hearts of inventive, entrepreneurial people everywhere.  When considering the success of Grand Junction’s Business Incubator Center, it becomes obvious that this kind of service would benefit every community in America. 

Don’t miss this opportunity to nurture the entrepreneurial spirit in your community. Please join us for a hands-on tour of the Grand Junction Business Incubator as part of the Economic Development Symposium, March 28-29, 2013 at Colorado Mesa University.  Visit www.ColoradoMesa.edu/RediferInstitute for additional details.

If you’re unable to attend the March conference and would like more detailed information about setting up a Business Incubator Center in your community, please attend our free Webinar, February 23, 2013 at 10:00 a.m.  (MT). More information about this free, information-packed webinar is available at www.ColoradoMesa.edu/RediferInstitute 

Jon Maraschin is the Executive Director of the Grand Junction Business Incubator Center. He will be a featured speaker at the Economic Development Conference at CMU in March, 2013.