Greasing the Skids

I made a point of walking through Janesville’s new incubator building at Forward Janesville’s Business After Five last week. Having cut my commercial real estate teeth in economic development for a few decades, I was really interested in seeing the outcome of the city’s efforts.

Like many in the private sector, I was a bit skeptical. Building a brand new building in order to encourage entrepreneurship seemed a bit incongruous and perhaps a contributor to that “paid for by the government” adage.

But I checked my skepticism at the door and enjoyed a quick tour with Vic Grassman. Proud as a new father, he was anxious to extol the attributes of the facility. I later bumped into James Otterstein, Rock County’s economic development director, and quizzed him on the criteria to be used for potential tenants.

Courtesy of Janesville Innovation Center

Turns out the Janesville Innovation Center is more than just a 22,000 square foot building.  Sure, it will provide some very smart space for new and growing businesses – office and industrial. But it will also provide mentoring and coaching for each tenant. Prospective tenants will need to submit proposals in order to lease space and they will not be allowed to stay indefinitely.

Rock County has always been a hot bed of entrepreneurship. Some home-grown examples: ABC Supply, Lab Safety, SSI Technologies, Swing n Slide, Prent, and Regal Beloit, which was started in an old bowling alley. With hard work by management and employees and the support of the communities in which they are located, these and a multitude of others have grown into large companies employing people worldwide. Swing n Slide, Prent, and Regal Beloit, which started in an old bowling alley. With hard work by management and employees and support of the communities in which they are located, these and a multitude of others have grown into large companies employing people worldwide.

So greasing the skids for startups and young companies may not be a bad investment in resources after all. Particularly if the nurturing results in graduates leasing existing space from our private sector and hiring local workers.

I have gone from skeptic to optimistic. No rose-colored glasses for me but certainly well wishes for the effort, and a pledge to support the concept and be a cheerleader for the Janesville Innovation Center’s success.