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The Mayor and Council will hear a presentation from Northern Arizona Center for Entrepreneurship and Technology (NACET) regarding the contracted services for the Maricopa Center for Entrepreneurship (MCE). Discussion only.
AGENDA ITEM DESCRIPTION
The Council approved Economic Development Strategic Plan was created to guide the City's short and long-term economic development efforts. The plan established four key goals to achieving economic development success as well as accompanying strategies and actions needed to realize those goals. Goal 1: Strategy C, specifically calls out the need to support local entrepreneurs in the start-up of new business.
To fulfill this goal the Economic Development Department issued a Request for Statement of Qualifications in the winter of 2012 seeking partnership opportunities with interested organizations for the implementation and operational management of the Maricopa Center for Entrepreneurship (MCE) incubator. February 5, 2013 City Council approved a Professional Services Agreement with the Northern Arizona Technology & Business Incubator for the creation and operational management of the MCE incubator and renewed an expanded agreement again September 3, 2013 through September 2016. The agreement was renewed on October 4, 2016 for one additional year.
Business incubators nurture the development of entrepreneurial companies, helping them survive and grow during the start-up period which is often when they are most vulnerable. These programs provide client companies with business support services and resources tailored to young firms. The MCE goals are to:
· create jobs in a community,
· enhance the community's entrepreneurial climate,
· retain businesses in a community,
· build or accelerate growth in the local economy,
· diversify the local economy.
NACET corporate has streamlined processes for all the incubators they service in Arizona. The purpose of the presentation is to explain an...
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