I have some exciting news to share with you about a new business incubator in West Las Vegas. At today's Las Vegas City Council members, the City Council approved an agreement and lease that will aid the development and growth of small businesses.
Specifically, we approved a lease and operating agreement between the city and the Las Vegas Redevelopment Agency (RDA), and a sublease between the RDA and Urban Chamber of Commerce that allows the two entities to develop and manage a business incubator program.
Under the agreement, the Urban Chamber of Commerce will develop and implement a business plan to govern management, general office administration, training and related services that will be offered to businesses housed at the incubator building. As the sub-tenant of the RDA, the Urban Chamber's administrative offices will also be located within the incubator.
I'm pleased that the city will continue its partnership with the Urban Chamber of Commerce to pool our resources to create business opportunities in Ward 5. Ward 5 is historic, proud and progressive, and I look forward to the new businesses that this project will assist in becoming successful. That's something all the residents of Ward 5 and the city of Las Vegas can enjoy.
Business incubator programs, which have been implemented in communities throughout the United States, provide below-market-rate office space and support services for new or recently formed small businesses. The goal is to help develop small businesses so that they are able to become fully functioning independent enterprises.
The approximately 17,171-square-foot business incubator is located at 1951 Stella Lake Street in Enterprise Park in West Las Vegas across from the FBI Regional Headquarters building.
"Despite the recession, there are many individuals in our community who aspire to be successful business owners and operators," said Urban Chamber of Commerce President Debra Nelson. "This facility will help these individuals pursue their dreams, create jobs and contribute meaningfully to the economic vitality of Southern Nevada."
The facility offers 10 flexible spaces of 1,200-square-feet each. These spaces can be used for office or light industrial purposes. An additional 5,171-square-feet of office space is also available. Three businesses are currently housed in the incubator: Stargate Plumbing J& M Financial and ProServe Mortgage.
Business owners interested in participating in the incubator program should contact the Las Vegas Redevelopment Agency at (702) 229-6100 or the Urban Chamber of Commerce at (702) 648-6222.