The Hub’s economic impact from October 2020 through September 2021
showed it served 99 companies, 28 of which were new. More than 46 jobs
were created and 266 jobs were retained during that time span.
“It’s hard to really tell a complete story with a one-year snapshot,”
said Kevin Ricco, the Hub’s director. “As a team, we have been
pleasantly surprised by our metrics during the pandemic.
“People are leaving jobs, and there’ve been supply chain issues, but
we’ve still seen some of those entrepreneurs grow, and some took the
opportunity to pivot their models and thrive.”
Though the pandemic restricted the center offering in-person events —
one of the Hub’s biggest assets — other services were vital in helping
businesses get off the ground.
In the report, Ricco points out slots for the CoLaunch coworking area
and the incubator program, which provides support and space for
entrepreneurs, have been at capacity with a waiting list for the last
four years.
Other metrics are showing the pandemic’s lingering economic effects
are beginning to subside as well. Follow-on investments — a subsequent
investment which follows the initial investment — of Hub-supported
businesses grew from $12.5 million in 2020 to $13.1 million in 2021.
The Hub is already working on plans for helping the region emerge
economically from the pandemic. Ricco said this spring they completed
an assessment grant through the U.S. Economic Development Association
to assist start-up and entrepreneurs across a five-county region.
“We’re happy to have an impact,” said Ricco. “We need to continue to
be innovative and find ways to have a bigger impact.”
