The Arizona Regional Economic Development Foundation in Cochise County will be awarded a $597,008 grant from the U.S. Economic Development Administration’s Build to Scale program.
Executive Director of the Arizona Regional Economic Development Foundation Mignonne Hollis said that this grant is a stepping stone towards building a tech incubator in Cochise County.
“As Cochise County continues to have the largest population decrease in the nation, this is a good way for us to be able to come in and have some opportunities, so that people don’t have to leave, and people will actually want to stay here,” said Hollis.
According to the U.S. Chamber of Commerce, startup incubators help local start-ups by providing resources like training, networking connections and a workspace to develop their business.
“We have lots of resources and assets, but they’re not all pulled together in one, easy place," Hollis said. "And so, part of what we wanted to be able to do, and what this grant focuses on, is pulling it all together into one cohesive place, so that we’re a toolbox for entrepreneurs in Cochise County, especially in the tech hub.”
While they expect it to take five years to reach their goal, Hollis said they first have to engage local entrepreneurs and assess the need.