Central Michigan University Research Corporation announces expansion in Saginaw
Business incubator and accelerator will open its third location in the SVRC Marketplace
MOUNT PLEASANT, Mich., Apr. 20, 2017 – What was once filled with the buzz of local information and updates soon will be humming with a different type of news: new product ideas and businesses. Today, Central Michigan University Research Corporation announced it will open its third location inside the SVRC Marketplace — the iconic former home of The Saginaw News — next year.
CMURC Saginaw will make it easier for budding entrepreneurs and existing businesses in the area to tap into a network of business experts, state grants or awards and the resources of Central Michigan University. CMURC has been recognized by the Michigan Economic Development Corporation as one of the top-performing Michigan SmartZone business accelerators. Their team has helped create 130 companies and 359 jobs in the past three years alone. As a result, more than $18 million in capital has been invested back into the Great Lakes Bay Region during that time.
CMURC Saginaw will be the organization’s second satellite location, following the opening of a facility in Uptown Bay City this spring. CMURC President + CEO Erin Strang said the nonprofit looks forward to being involved in one of the major redevelopments transforming downtown Saginaw.
“While we have always served the entire Great Lakes Bay Region, our expansion to offices in Bay City and, now, Saginaw means we are even better positioned to assist business owners and entrepreneurs where they live and work,” Strang said. “Our members will be able to work from all three of our locations and do business regionally in a professional setting.”
In addition to SmartZone programs and services that help businesses grow or guide an entrepreneur from product idea to first sale, the Saginaw location will feature offices, CoWork space and conference rooms available for entrepreneurs, small businesses and corporations. Coworking allows individuals to work alongside and interact with other professionals from a range of industries. It also enables businesses to expand without creating their own satellite office.
SVRC Industries, which has partnered with local organizations and entities to redevelop the building, also plans to open a commercial kitchen and mini retail spaces in the marketplace just steps from CMURC.
“We are excited to see CMURC become an even bigger part of our community and join us in infusing additional economic energy in downtown Saginaw,” SVRC Industries CEO Dean Emerson said.
CMURC will occupy nearly 10,000 square feet within the 60-year-old historic building alongside companies such as Spence Brothers, a CMURC Corporate CoWork Partner.
Headquartered in the Mount Pleasant SmartZone District, CMURC has served the Great Lakes Bay Region for nearly two decades. This SmartZone was one of 17 geographic zones established by the MEDC, in partnership with Central Michigan University. SmartZones promote collaboration across higher education institutions, industry, government and communities to grow technology-based businesses and jobs.
CMURC has customized space and programs for entrepreneurs including Right Choice, Exchange and Passport, which includes a membership to one of five area chambers of commerce. The team assists entrepreneurs with everything from business development and commercial assessments to crowdfunding platform access and establishing connections with intellectual property attorneys, graphic designers, insurance professionals, and more.
About Central Michigan University Research Corporation
CMURC is a nonprofit business incubator focused on advancing economic development in the community by leveraging the resources of Central Michigan University, the Mount Pleasant SmartZone and the Michigan Economic Development Corporation’s 21st Century Jobs Trust Fund. Local, regional and statewide partners assist to accelerate the success of entrepreneurs, growing businesses and jobs. CMURC is a single source of contact providing physical space and essential business services. CMURC encourages interaction and partnerships, which accelerates emerging organizations to develop their ideas and bring them to market quickly.
About the SVRC Marketplace
SVRC Industries, in partnership with the Downtown Saginaw Farmers Market, the City of Saginaw, and the Saginaw DDA, is redeveloping the iconic former Saginaw News building into a 100,000 square foot mixed-use facility, to be named the SVRC Marketplace. The Marketplace will impact the community by bringing an estimated 10,000 people to the Downtown Saginaw riverfront weekly. The SVRC Marketplace is a sustainable project that builds on SVRC’s core-mission of creating employment opportunities and community access by offering healthy food options, integrated jobs, supportive services, and vibrant gathering spaces in a single downtown development.