Business incubator to open in Creve Coeur
West News Magazine
January 27, 2012
Ted Dixon Jr.
The city of Creve Coeur soon will be home to the fifth business incubator in the St. Louis metropolitan area.
The Helix Center, 33,000-square-foot facility slated to open in September at 1100 Corporate Square Drive, will provide a boost to early-stage companies in the plant and life science industry.
"A business incubator is a facility designed to accelerate the development of entrepreneurial companies," said Corrie Hendrix, a spokesperson for the St. Louis County Economic Council (SLCEC), which is spearheading the Helix Center project and has existing business incubators in Chesterfield, South County, Wellston and midtown St. Louis. "They are proven to nurture and grow business and jobs.
"Our incubators help companies start their business in a low overhead facility where they can benefit from business development seminars, capitalize on the expertise of mentors, access shared services, connect with capital and financial sources and network with other entrepreneurs."
The building that will house the Helix Center currently is undergoing renovation. The cost of acquiring the building, its design and construction is $7.5 million, plus an additional $450,000 for energy efficiency measures that will be incorporated into the renovations. The project is funded by a federal grant from the Department of Commerce Economic Development Administration, proceeds from bonds issued by St. Louis County, and Energy Efficiency & Conservation Block Grant funds from the U.S. Department of Energy.
"The Helix Center will support the growth of early-stage companies in the plant and life science industry by providing affordable office and lab space and access to technical expertise, amenities and specialized support," Hendrix said.
The facility will be equipped with wet and dry laboratory space for conducting research and also will provide office space, a combination that Hendrix said is "ideal for early-stage plant and life science companies as they turn their big ideas into commercial success."
"In addition to offering specialized yet affordable space required by plant and life science companies, Helix Center clients will have access to industry experts through a strong family of facilities at the nearby Donald Danforth Plant Science Center and Bio-Research and Development Growth (BRDG) Park," Hendrix said.
Last fall, St. Louis County officials announced plans for renovation of its existing business incubators using $1.9 million in bonds. That work, expected to take roughly three years, will include improvements to work spaces and structural repairs.
