A-B Tech Incubator Showing Growth
April 3, 2009
A-B Tech Small Business Incubator client Endless Supply has been growing with the help of resources available through the Center for Business and Technology Incubation at the College's Enka campus.
"In spite of things, we are in an expansion mode and looking to hire two more people in the next two to three months," said company owner Steve DeWeese, who currently has four employees.
DeWeese's company serves the construction industry, focusing on "green building" and LEED certified construction projects, as well as energy efficiency and indoor air quality for new and existing structures.
"The incubator has been very helpful," DeWeese said. "As a new business, it's always a plus to connect with the different resources that can help a business grow and to stay out of trouble. We get to plug in with other entrepreneurs and make networking contacts."
A-B Tech's Center for Business and Technology Incubation saw its clients more than double their revenues over the past fiscal year, earning $4 million in 2007 and $8.2 million in 2008. These employers have created and retained 137 local jobs since its inception in the 2007 fiscal year. Average salaries are $31,000 for employees of the incubator clients, or $14.46 per hour.
"The fact that our clients are experiencing success in this market underscores the benefits of the program and their dedication to success. As we expand beyond specialty foods, natural products and technology commercialization to provide expertise to green technologies, we expect annual revenues of our companies to exceed $10 million in 2009. This expansion will provide much needed jobs at a living wage for our local citizens," said Russ Yelton, executive director of Entrepreneurial Ventures and Business Incubation.
By the numbers
2007FY 2008FY Since Inception
Revenues $4 million $8.2 million $12.2 million
Investments $2 million $8.1 million $10.1 million
Jobs Created 51 52 (35 retained) 138
Total Payroll $2 million $2.5 million $4.5 million
Average Salary $32k $30k or $14.42/hr $31k average
Headlines
- Extreme Entrepreneurship Tour Coming To A-B Tech
- A-B Tech Culinary Team Wins Regional Competition, Headed For Nationals
- Drought Solution Methods Examined At Lunch And Learn
- Sixty New Members Join Phi Theta Kappa
- BCT Student Expo Scheduled For May 8
- Harrison Receives Udall Scholarship
- Ralls Shares Thoughts For Presidential Search
- A-B Tech's Phi Beta Lambda Chapter Excels At State Leadership Conference
- Free Accounting Class: Withholding 101
- EMS Graduate Honored By Ceremony, Defibrillator Memorial
- Sustainability Efforts Grow At A-B Tech
- Small Business Jump Start Day Planned For April 23
- Fire Protection Technology Instructor Sworn Into U.S. Supreme Court
- A-B Tech Incubator Showing Growth
- A-B Tech Chorus To Present First Concert
- A-B Tech Receives Grant For Project Skill-UP
- King Named Regional Distinguished Administrator By Phi Theta Kappa
- Phi Theta Kappa Earns Honors at Regional Convention
- Creative Branding and Packaging Class for Natural Products
The Community's College, Dedicated To Student Success
