The Norfolk Area Economic Development Council commits $100,000 over a three-year period to assist in developing a coworking and incubation space in Norfolk, an initiative led by Invest Nebraska.
Invest Nebraska and the Norfolk Area Economic Development Council announce a partnership to develop entrepreneurial and innovative infrastructure in Northeast Nebraska needed for technology-based economic development.
“We’re proud that Norfolk will host the first co-working/incubation space associated with Invest Nebraska outside of Omaha and Lincoln,” said Norfolk Mayor Josh Moenning. “We’re ready for it. Small business entrepreneurs are fueling downtown Norfolk’s resurgence and energizing our local economy. This effort will provide needed room to grow and lay the foundation for a community of innovators whose work is bringing new economic opportunities to our city and northeast Nebraska.”
The partnership will bring Intersect Coworking, a collaborative coworking and incubation space, into downtown Norfolk. Invest Nebraska has driven the initiative forward after receiving a $250,000 grant from Ewing Marion Kauffman Foundation to build organizational capacity, extend its Operational Assistance Program for entrepreneurs, and collaborate with Northeast Nebraska’s Growing Together Initiative with a specific focus on startups and a coworking space. The main goal is to scale high-growth entrepreneurship in a rural area.
“The Invest Nebraska team looks forward to developing a robust entrepreneurial environment in Northeast Nebraska. The current coworking and incubation spaces in Lincoln have shown us firsthand what growth can come from a collaborative space for entrepreneurs, and we cannot wait to see the impact of Intersect in the community of Norfolk,” states Emma Bennett, Invest Nebraska’s Community Development lead located in Norfolk.
The Norfolk Area Economic Development Council has committed $109,577 over a three-year period to the initiative. The City of Norfolk and Madison County have supported the project through the Norfolk Area Economic Development Council. The coworking space will offer drop-in desks, private offices, an incubation space for startups within the program, and a conference space, in addition to being a gathering space for the startup community in Norfolk.
Candice Alder, Economic Developer for the City of Norfolk and Norfolk area, shares Bennett’s excitement for the new space.
“The Norfolk Area Economic Development Council is excited to serve as a founding partner of Intersect Coworking and Incubation Space. Coworking and business incubation both provide a unique opportunity to meet the needs of a diverse group of business representatives such as new entrepreneurs, home-based businesses, and remote workers. The model creates a platform that provides the tools to assist with the growth and development of small businesses here in Northeast Nebraska,” states Alder.
To learn more about the coworking space, visit intersectcoworking.com.
About Invest Nebraska
Invest Nebraska is a private, non-profit statewide venture development organization that partners with the Nebraska Department of Economic Development focused on high-growth and high-impact companies in Nebraska. Invest Nebraska provides operational assistance and seed capital, develops entrepreneurial/innovation ecosystems, and collaborates with public and private partners across the state to create high-paying jobs and ensure prosperity. For more information, visit www.investnebraska.com.
About Norfolk Area Economic Development Council
The Norfolk Area Economic Development Council is a partnership between the City of Norfolk and Madison County to fund economic development efforts in the Norfolk area. The economic development team is housed under the City of Norfolk and strives to promote, facilitate, and cultivate economic development projects and initiatives in Madison County, Nebraska. Learn more at www.NorfolkNebraskaED.com.