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ORLANDO, Fla., (July 31, 2009) - The University of Central Florida Business Incubation Program has appointed James Spencer site manager at the UCF/Lake County Business Incubator, located at 600 Market St. in Leesburg.
Dr. Tom O'Neal, executive director of the UCF Incubation Program, said Spencer has more than 20 years of experience working with small companies.
The effort at the UCF/Lake County Business Incubator is a joint venture or partnership that includes the University of Central Florida Business Incubation Program and UCF's Small Business Development Center (SBDC). That means there will be more resources and programs provided to Lake County entrepreneurs than would typically be available at most incubators or SBDC offices alone.
Thomas Keon, Dean of the University of Central Florida, College of Business Administration, said the UCF/Lake County Business Incubator could have a big impact on the local economy in Lake County.
"Business incubation and programs of the SBDC help entrepreneurs start and grow small business enterprises efficiently and effectively," Keon explained. "Development of small business enterprises is an efficient strategy to improve the local economy, and the benefits are widespread and long-lasting," Keon said.
Dr. O'Neal, who founded the UCF Incubation Program more than a decade ago, said benefits of small business incubation takes time but the results are hard to argue with. Research has shown that 87 percent of incubator companies are still in business five years after graduating from an incubator and 84 percent stay in the region they were incubated in.
"We will focus on new and small business enterprises to help them reach their full potential for growth and development," O'Neal said. "Our job is to help small businesses create high value jobs for Lake County," he said.
For more information about this release contact:
Dr. Tom O'Neal, Executive Director, UCF Business Incubation Program, 407 882-1120, oneal@mail.ucf.edu
Larry Vershel or Beth Payan, Larry Vershel Communications, 407-644-4142 or LvershelCo@aol.com
About the UCF Incubation Program:
Since its founding in 1999, the UCF Business Incubation Program has helped more than 100 emerging companies (including nearly 70 current clients) create over $500 million in annual revenue and more than 900 new jobs with an average salary of $59,000. With five facilities across the Greater Orlando community, the Incubation Program is a collaboration in economic development between the University of Central Florida, the City of Orlando, Orange County, Seminole County, the City of Winter Springs, and the Florida High Tech Corridor Council. For more information, please visit www.incubator.ucf.edu.
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