A new business incubator for high-technology companies is ready to open in the Tri-Main Center, 2495 Main Street.
The 10,672-square-foot facility can accommodate six office suites and two laboratories, according to John A. McGowan, director of business incubation for the Western New York Technology Development Center.
TDC developed the space in the former Trico Products Corp. factory after a similar incubator closed on Main Street last November when the buildings were sold by the University at Buffalo to nearby Sisters Hospital.
McGowan said the new facility can be divided into offices ranging from 989 to 1,291 square feet. The space is ideal for technology-oriented businesses, he said.
The office space includes optional air conditioning and access to a conference room, indoor loading docks and freight elevator. There also is off-street parking, furniture, low-cost office services and an on-site small-business counselor.
The lab space features a fume hood, natural gas, compressed air, vacuum and de-ionized water.
Rents range from $5.50 per square foot for office space in the first year to $12 per square foot for a wet laboratory. In the third year, these rates rise to $6.50 per square foot for the office space and $14 for the lab. Rent includes basic utilities.
Leases usually last for three years. However, tenants can terminate an agreement with a month's notice.
Tenants also can use the various business assistance programs offered by TDC. McGowan said up to eight companies could be housed in the business incubator, which is located on the fourth floor of the Tri-Main Center.
A firm must have a completed business plan to be eligible for the incubator.
The new facility was funded by $59,000 from Tri-Main Development L.P.; $55,000 from the TDC Foundation; $25,000 from the Margaret L. Wendt Foundation and $5,000 from Niagara Mohawk Power Corp. The City of Buffalo spent $116,000 on landscaping and sidewalk repairs in the surrounding neighborhood.
TDC also operates the UB Foundation incubator on Sweet Home Road in Amherst. Eighteen firms currently are located there.
For more information, contact TDC at 636-3626.