Small businesses are the engine driving the economy of the Southeast Industrial Development Association region, and the Chattanooga/Hamilton County Business Development Center is one organization that puts fuel in the tank.

The business incubator provides office space, services and training programs that help entrepreneurs turn their dreams into reality. Today the facility serves as the launching pad for 55 startup businesses, which collectively employ about 400 people. More than 500 successful businesses have graduated over 22 years, says Kathyrn Foster, director of the Business Development Center (BDC).

A Business-Friendly Culture

"Over 80% of the jobs in the next 10 years will come from small entrepreneurs," Foster says."Chattanooga has a culture that is collaborative and business friendly. We are so fortunate to have that."
 
Thanks to a $4.7 million grant, BDC will be able to offer even more, including additional hands-on programs and advice for both startup businesses and existing companies.

In addition, the 125,000-square-foot space on Cherokee Boulevard in Chattanooga is expected to be LEED (Leadership of Energy and Environmental Design) certified following its renovation. Not only will that make the building more energy efficient, it will also reduce utility bills for the startup businesses that occupy it, Foster says.

"All of this adds up to what an incubator is supposed to be," says Adam Green, whose company, Green Real Estate Partners, has space at the BDC.

The incubator's growth is part of a small business focus by the Chattanooga Area Chamber of Commerce, says Tom Edd Wilson, the chamber's president and CEO.

Creating Long-Lasting Opportunities
 
"We have a particular focus on entrepreneurial activity because growing companies from within has the strongest potential to generate the most prosperity within the community," Wilson says. "Companies that start here are more likely to stay here and become invested and engaged in the betterment of our area."

Chattanooga has attracted more than $3 billion in business investment in past two years despite the recession, he adds.

"As a result, there are tremendous opportunities for small businesses to take advantage of the economic activity our community is experiencing," he says.

In addition to the Business Development Center, Chattanooga offers excellent resources to support the startup and growth of small businesses, Wilson says, including training on a range of issues related to business startup and growth, and programs to help entrepreneurs network and market their companies.

Green, who moved from Tampa, Fla., to open his company, which specializes in medical real estate, is enthusiastic about his experience at the incubator, where he can get everything from professional advice regarding his business plan to color copies down the hall.

"I think what makes it work is that regardless if you are making candy or doing what I do ... they start with the notion that they are in business to help your business," Green says. "You have taken the plunge and the risk of going into business, and they appreciate that."