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| Community Budget Issue Requests - Tracking Id #100 |
| Beaver Street Enterprise Center / Jacksonville Hospitality Institute |
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| Requester: |
Mary Langowski, President |
Organization: |
Fresh Ministries |
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| Project Title: |
Beaver Street Enterprise Center / Jacksonville Hospitality Institute |
Date Submitted |
12/27/2007 4:00:13 PM |
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| Sponsors: |
King |
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| Statewide Interest: |
| These projects foster economic development, specifically focused on minorities and women, and promote business development, job training and job creation in economic empowerment zones and distressed areas. |
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| Recipient: |
Fresh Ministries |
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Contact: |
Mary Langowski, President |
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1131 North Laura Street |
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Contact Phone: |
(904) 355-0000 |
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Jacksonville 32206 |
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Contact email: |
mary@freshministries.org |
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| Counties: |
Duval |
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| Gov't Entity: |
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Private Organization (Profit/Not for Profit): |
Yes |
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| Project Description: |
| Beaver Street Enterprise Center is an inner-city business incubator that graduates small businesses into surrounding neighborhoods building jobs and the economy of the inner city. Within the next one to three years, Beaver Street Enterprise Center will expand to include infrastructure and support for Information Technology (IT) companies with the capability to create high-value, high-wage jobs. The Jacksonville Hospitality Institute offers technical as well as academic and life skills training to unemployed individuals seeking entry level jobs in the hospitality industry, which is an identified growth industry in NE Florida.Beaver Street Enterprise Center
Background:
The Beaver Street Enterprise Center (BSEC) is a full-service core-city business incubator in northwest Jacksonville that has served over 35 companies since opening in 2003. Currently it is home to 24 diverse service-oriented cluster businesses in industries ranging from design-build construction, electrical contracting and non-medical home care to mortgage lending, title services, security and marketing and advertising firms. Since opening, twenty-four companies have joined the tenant list. Incubator clients have created 160 jobs in 2007, up from 149 created in 2006. Incubator companies collectively generated $2.9 million in revenue in 2005 and increased that amount to $5 million in 2006. FreshMinistries, a nonprofit Jacksonville organization, is BSEC�s parent organization. Additionally, FreshMinistries expanded BSEC and opened the Jacksonville Hospitality Institute (JHI) in November of 2006, which provides free job training and life skills preparation to unemployed individuals, as well as placement in entry level hospitality positions. JHI partners with the Clara White Mission to offer culinary training to the nine week training course.
BSEC also offers a menu of support services that helps to ensure that these core-city businesses succeed. They include an on-site Technical Assistance Program that comprises peer group meetings, referrals, training, one-on-one staff meetings, workshops and situational mentoring. Also, individual mentoring by local "captains of industry", hands-on management assistance and conference and boardroom areas are all a part of the building blocks for our clients' success. In 2007 the area�s only Information Technology (IT) business incubator closed, leaving Jacksonville without critical support for accelerating the formation and growth of IT companies. During 2008, Beaver Street Enterprise Center will expand its outreach, support and services to include the formation of new, technology based businesses that play an essential role in the growth of Northeast Florida�s economy. The expansion of IT training through the area�s colleges and universities presents opportunities for the development of new technology-based businesses. Start-ups are enhanced and strengthened with incubator support and are more likely to succeed, resulting in increased opportunities for high-value, high wage jobs. For 2008 the incubator has partnered with the University of North Florida�s Small Business Development Center as an on-site partner, offering technical assistance, counseling and research resources to clients. Additionally, BSEC will expand its Financial Management Program with Bank of America to include other partners, adding on-site executive education and banking resources for financial mentoring and advice in areas of debt and equity capital.
In 2008, BSEC�s target goals include the graduation of one BSEC business into a new commercial facility to be located in the Northwest Quadrant, creation of 200 jobs, an increase in average wages by 3% and collective revenue generation of 5.5 million for approximately 26 new core city business units.
FY 2008-2009 Request
The requested amount of state funding for FY 2008 is $500,000 for economic development, job training and placement.
Total FY 2008-2009 Request - $500,000
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| Is this a project related to a federal or state declared disaster? |
No |
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| Measurable Outcome Anticipated: |
| The incubator will support a minimum of thirty (30) small and emerging business enterprises during 2008 with an increase to 33 businesses over the next two years. |
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| Amount requested from the State for this project this year: |
$500,000 |
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| Total cost of the project: |
$925,000 |
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| Request has been made to fund: |
Operations |
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| What type of match exists for this project? |
Local, Private |
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Cash Amount |
$400,000 |
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In-kind Amount |
$50,000 |
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| Was this project previously funded by the state? |
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Yes |
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Fiscal Year: |
2006 |
Amount: |
$350,000 |
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| Is future-year funding likely to be requested? |
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Yes |
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Amount: |
$500,000 |
To Fund: |
Operations |
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| Was this project included in an Agency's Budget Request? |
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No |
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| Was this project included in the Governor's Recommended Budget? |
No |
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| Is there a documented need for this project? |
Yes |
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Documentation: |
COJ's "The Lockwood Creene Asset Study" shows a lack of private business in the urban core. WorkSou |
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| Was this project request heard before a publicly noticed meeting of a body of elected officials (municipal, county, or state)? |
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Yes |
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Hearing Body: |
Duval County Legislative Delegation Meeting |
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| Is this a water project as described in Section 403.885, Laws of Florida? |
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No |
