Business Incubator Has Positive Economic Impact
The West Piedmont Business Development Center’s current and former clients had 2009 revenues in excess of $13 million, according to an Economic Impact Survey performed by the Center.
In addition to the annual revenues, the companies had cumulative annual payrolls of more than $3.8 million.
“These numbers show that the West Piedmont Business Development Center helps to put actual dollars into the local economy and people to work,” said Pat Sharpe, chairman of the WPBDC Board of Directors. “Given the state of the worldwide economy, these numbers are even more impressive. We are showing growth, and we are helping produce viable, effective companies.”
The study also showed that WPBDC companies and graduates have brought in over $5 million into the community through debt capital, equity capital and secured grant funds.
“We work very closely with our clients to find sources of capital and how to use it to generate more revenue,” said Tiffani Underwood, executive director at WPBDC. “Some of the best entrepreneurs in the area use or have used our services, and it is wonderful to see them succeed.”
Serving the City of Martinsville and the Counties of Henry, Franklin and Patrick, Virginia, the mission of the West Piedmont Business Development Center is to attract, assist and encourage emerging entrepreneurs by providing a favorable environment for their growth and development.
Affordable office and light manufacturing space, shared office equipment and services make it possible for small businesses to reduce the many costs associated with establishing and operating a business.
The WPBDC is located in Uptown Martinsville, with satellite locations in Stuart and Rocky Mount. The WPBDC currently has 16 onsite tenants and three “virtual” tenants who use the center’s services. Please visit www.wpbdc.org for more information.
