PEMBROKE — The University of North Carolina at Pembroke will officially launch its Entrepreneurship Incubator at 202 Main St. in Downtown Pembroke on Dec. 6 at 9 a.m. The community is welcome to refreshments and to tour the facility before its $1.3 million renovation.
Besides giving Downtown Pembroke an economic lift, the incubator will provide space for eight to12 start-up businesses. The building will also house the offices of two UNCP business development programs — the Thomas Family Center for Entrepreneurship and the Small Business and Technology Development Center.
With a planned opening in spring of 2015, the incubator is expected to produce 115 jobs and create private investment of $1.15 million within three years. It will also give UNCP business students hands-on experience with start-up and expanding businesses.
The university will receive a $932,000 federal grant from the U.S. Commerce Department’s Economic Development Administration. When combined with $200,000 from the Golden Leaf Foundation and $210,000 from private donors, the Entrepreneurship Incubator will be able to purchase and renovate the 16,800 square-foot storefront building.