New York City Economic Development Corporation and Brooklyn Borough President Markowitz Announce Initiative to Develop a Small Business Incubator in Brooklyn
Project will Support Growth of Small Businesses and Entrepreneurs Working in Brooklyn
On Thursday, New York City Economic Development Corporation (NYCEDC) and Brooklyn Borough President Marty Markowitz announced the issuance of a Request for Proposals (RFP) to develop a new small business incubator in Brooklyn. Over $1 million in City capital has been designated for the project, which will support the growth of small businesses in Brooklyn. The RFP seeks an individual or organization to develop, operate and maintain the incubator with a preference for food-related uses, including food manufacturing, food storage, or shared commercial kitchen space; however, proposals for other uses will also be considered. Respondents to the RFP may use up to 4,000 square feet at the city-owned Moore Street Market in East Williamsburg, or propose a location in the neighborhoods of Bedford Stuyvesant, Brownsville, East New York or Crown Heights.
"Brooklyn is home to some of New York City's most innovative startup companies and entrepreneurs, many of whom could benefit from the mentoring support and networking opportunities that the City's network of business incubators facilitates," said NYCEDC President Seth W. Pinsky. "We expect that the success we have seen at the other eight incubators that we have sponsored around the City will be continued at this new space."
"Central Brooklyn represents one of the most economically challenged areas of the city, so I am proud to fund this business incubator, which will help create much-needed jobs by providing affordable space, business acumen, as well as the equipment necessary to help a small business get off the ground," said Brooklyn Borough President Marty Markowitz. "Entrepreneurship doesn't know income levels, and I know that great ideas can come from anywhere. So, kudos to the EDC and Seth Pinsky for helping to provide the 'tender loving care' today that will grow into the Brooklyn businesses of tomorrow."
Moore Street Market is located at the intersection of Moore Street and Humbolt Street in East Williamsburg. It contains over 30,000 square feet of space including 15,000 square feet on the first floor, currently occupied by approximately a dozen vendors making an array of foods and food-related products from Latin America that are sold in the Market, and a 15,000-square-foot basement. It is open Monday through Thursday, from 8:00 a.m. to 6:00 p.m.; Friday and Saturday, from 8:00 a.m. to 7:00 p.m.; and Sunday, from 10:00 a.m. to 5:00 p.m., and is easily accessible by public transit.
City funding for the development of an Incubator in Central Brooklyn may be utilized for equipment purchases, fit-out and improvement costs necessary to open the Incubator, but may not be used for operating expenses. The selected operator will bear financial and operational responsibility for the success of the project.
The Central Brooklyn Incubator will be the ninth developed as part of the City's effort to support entrepreneurship and encourage start-up companies to locate and grow in New York City. These include an incubator for high-tech startups at 160 Varick Street and the Hive at 55, a co-working facility for freelancers in Manhattan; the Sunshine Bronx Business Incubator in Hunts Point; the Entrepreneur's Space, a kitchen incubator in Queens; HBK Incubates, an incubator for food manufacturing businesses at La Marqueta in East Harlem; and General Assembly, a technology and design campus in Flatiron.
To obtain a copy of the complete RFP, please visit www.nycedc.com/rfp . Responses are due by Friday, April 8th at 4:00 p.m.
About NYCEDC
New York City Economic Development Corporation is the City's primary vehicle for promoting economic growth in each of the five boroughs. NYCEDC's mission is to stimulate growth through expansion and redevelopment programs that encourage investment, generate prosperity and strengthen the City's competitive position. NYCEDC serves as an advocate to the business community by building relationships with companies that allow them to take advantage of New York City's many opportunities. Find us on Facebook , follow us on Twitter , or visit our blog to learn more about NYCEDC projects and initiatives.