Unlocking Entrepreneurial Success: The St. Croix Valley Business Innovation Center's Impact on Economic Growth
30 Jan 2024
At the heart of the St. Croix Valley Business Innovation Center (SCVBIC) lies a simple yet powerful mission: to provide incubation space, training, and unwavering support that not only fosters entrepreneurship but also significantly enhances the success of businesses. The ripple effect of this mission is palpable, resulting in new job opportunities and increased local wealth in the surrounding areas like Dunn County.
Nurturing Entrepreneurs with Tailored Support
SCVBIC provides an array of services, from management guidance to connecting with an entrepreneur ecosystem. The result is new business owners receive the tailored support they need for success. Every business is unique, and SCVBIC ensures entrepreneurs receive the specific resources for their growth journey.
The Incubator Program, a cornerstone of SCVBIC, facilitates one-on-one meetings with the center's director. This strategic collaboration results in personalized action plans, goal setting, and regular performance reviews, guiding entrepreneurs on a focused and successful path.
Entrepreneurs in the program gain more than workspace; they become part of a community. SCVBIC opens doors to networking events, classes, and workshops, fostering connections and providing learning experiences crucial for long-term success.
Fueling Economic Growth and Success Stories
The impact of SCVBIC on local businesses is profound. Since its inception in January 2018, 39 businesses have either started or expanded within its walls, contributing to the retention of 153 jobs and creating an additional 94 positions. This success is a testament to the center's role in fostering entrepreneurship.
SCVBIC is not just a business incubator; it's a catalyst for economic investment. With a remarkable $33.1 million invested in the local economy, the center is a driving force behind regional economic growth and prosperity.
Twenty businesses have graduated from SCVBIC in the past six years, symbolizing their growth so they can move seamlessly into the surrounding community. SCVBIC not only nurtures businesses but also plays a crucial role in enhancing the region's economic landscape.
Collaborative Spaces and Concrete Success
SCVBIC offers diverse workspaces covering 23,579 square feet on the main level with an additional 7,000 square feet on the 2nd floor waiting for a new business to move in. SCVBIC caters to various business needs. From email-only options to co-working rooms, industrial space with loading docks and over 3,000 square feet for food businesses, private offices and cubicles—any business can find the environment they need to thrive and grow.
Business owners, such as Bob Owens of Salient IT Consulting, testify to the pivotal role SCVBIC plays in launching companies. "SCVBIC has provided so much more. Sheri Marnell [Director of St. Croix Valley Business Innovation Center] has taken an interest in my business and has offered concrete advice and ideas on potential avenues for growth. It is clear she and her team understand the needs of a small business owner and the attitude and willingness to provide advice is of great value."
Larry Doerr, Chief Operating Officer of Infinite Material Solutions, highlights the collaborative and communicative relationship between SCVBIC and its tenants. “As a tenant, we are treated as business partners and the relationship is extremely collaborative and communicative. We have grown successfully in our space, which offered EXACTLY what we needed! Great people and great partners.”
The success stories of businesses growing within the provided spaces showcase that SCVBIC offers precisely what enterprises need, making them great partners in success.
In the heart of the St. Croix Valley, SCVBIC is more than a business innovation center; it's a dynamic force propelling entrepreneurial dreams into tangible success, fostering economic growth, and creating a thriving community. As business partners like Bob Owens and Larry Doerr attest, SCVBIC provides the space and the essential tools for businesses to flourish in the St. Croix Valley region.
If you want to learn more whether you are currently an entrepreneur, have a desire to start a business, or you are a community member that is curious—reach out to Director Sheri Marnell for a tour and talk. Complete the contact form today.