Innovation centre hopes to fill economic holes
Facility will serve as incubator for new businesses

By PATRICK BRENNAN TIMES-JOURNAL

Business leaders in St. Thomas and Elgin Friday applauded the opening of the Innovation Centre for Entrepreneurs, which will serve as an incubation centre for new businesses that will hopefully fill vacant stores and offices in the area.

ICE opened as a 17,000-square-foot addition to the Elgin Business Resource Centre at 300 South Edgeware Rd.

"There couldn't be a better time than the 2011 Year of the Entrepreneur to welcome three new business entrepreneurs to the new ICE facility," advised John Regan, general manager of the Elgin

Business Resource Centre.

Regan said planning for ICE began two years with a goal to create something that could address a way to provide relief for St. Thomas-Elgin, hard hit by job losses.
"We knew we needed partners," he said.

The bulk of the funding to build the addition came from an $800,000 federal Community Adjustment Fund grant. Other sponsors who provided funding included Libro Financial Group, Bob McCaig, the RBC Foundation, St. Thomas and Elgin Homebuilders' Association, Rotary International and TD Canada Trust.

"We built it here to put all the resources under one roof," Regan explained. "What is here exists nowhere else."

"ICE is more than a building," Regan added. "It is a program to get entrepreneurs out of their basement and garages."

Regan noted entrepreneurs in the incubation program can only remain for three years.

"Our hope is they leave after three years to fill vacant storefronts."

"This helps the region prosper and provides new opportunities for business," said Karen Vecchio, speaking for Elgin-Middlesex London Conservative MP Joe Preston, who was sitting in the House of Commons Friday.

Janet Golding of the Ontario Trillium Foundation reminded those in attendance she was the mayor of St. Thomas when the city planned and built 300 South Edgeware Rd., at a time when city hall was being restored in the 90s.

"Trillium Foundation grants are meant to strengthen your communities," Golding said. Trillium Foundation granted ICE $150,000 over two years.

"This has been a long time coming," said St. Thomas Mayor Heather Jackson-Chapman. "Small business is a driving force force in our economy. We look forward to success stories."

Elgin County Warden Dave Mennill said the ICE provides the incentive to support small business.

"Seeds are being planted and we're looking forward to a harvest," Mennill said.

"This is a big project and it doesn't happen without a lot of work," said Susan Gardner, president of ICE.

The first tenants at ICE are Allsource Depot, which sells assistive and adapted medical devices, Rampa Tec, a German fastener manufacturer and Saverity Corp., a market research company for economic development.