SUU and Quantum Partner to Advance Entrepreneurs
October 20, 2006
Brent Drew of Quantum Development Group presented Southern Utah University’s Small Business Development Center in the School of Business with a check for $10,000 yesterday, in support of the SBDC’s current Best Business Idea promotion, and the future of entrepreneurship in southern Utah.
“This is a great day for SUU and for the community,” Craig Isom, Director of the SBDC, exclaimed. “Developments like this are the foundation of a partnership that will benefit the students of SUU, and entrepreneurs throughout the region.”
The Quantum donation comes on behalf of the Development Group’s elaborate project being constructed off Highway 56, near railroad access and just a few minutes from the main thoroughfare of I-15, called Port 15 Utah, a sophisticated industrial park especially for high-image, high-goaled companies.
What Quantum is presenting as “A Convergence of Commerce,” Port 15 will accommodate big businesses and small companies alike, and give special attention to small, new entrepreneurial projects. In fact, a significant portion of the park is dedicated incubator space—centers for the development of existing businesses as well as specific kinds of start-up businesses. Creating and facilitating incubator space is one of the main initiatives in SUU’s enhanced focus on its Regional Services program. Naturally, the implementation of regional economic development and applied research will take place in incubator space. Pier 15 will provide the actual space in which these businesses can “get on their feet,” so to speak. Drew reports that the first incubator space in the Pier 15 complex is targeted to be occupied as early as March.
Drew, along with Donna Brown, the director of the Cedar City Chamber of Commerce, believes Pier 15 is a partial fulfillment of a vision of the business landscape of Iron County that many in the community have held for years. Devoted to promoting small business and technological businesses, Quantum has conceived Pier 15 to specifically encourage entrepreneurship and retain entrepreneurs in this area. “We can see a lot of SUU students finding employment at Pier 15. Cedar City is the perfect place for students. We hope to offer students and residents more opportunities to start and lead businesses.”
“This is just one more step in the maturity of our business community,” Brown states. “It’s about some really important partnerships as the City wants to do more to keep students here after graduation to promote business diversity.”
Drew explains that the covenants and codes of the Pier 15 park will lend themselves to particular kinds of business that will make Pier 15 a “higher-image type of park.” Drew believes Pier 15 will attract the kinds of companies that will offer better pay and establish longevity in the community.
Isom interjects, “More business means more jobs that will attract more students.” He elaborates on how Pier 15 will directly affect the education and entrepreneurship of SUU students: “This project will certainly promote progress in such fields as applied research, planning, business administration, engineering, accounting, and service-learning.”
The winners in the SBDC Best Business Idea competition may achieve the first step to making their great idea a reality. The application is obtainable at http://www.suu.edu/business/sbdc/ All submissions are due at the scary hour of midnight, October 31. The grand prize winner of the Best Business Idea competition will receive $5,000 toward making his/her business dream come true. Second place will receive $3,000, third place, $1,000, and two honorable mentions, $500 each. In the Spring, the SUU School of Business will continue to support budding entrepreneurs by sponsoring a Best Business Plan competition. For more info, the people and resources of the SBDC at SUU can be contacted at 435.586.5400.