This type of job mobility is crucial in meeting the objective of helping 100 individuals annually become automotive technicians. The incubator will offer flexible space, shared support services, and specialized technical services, with the purpose of growing businesses in Newark. NCC s experience suggests that regional institutions are supportive of strong local economic development initiatives like the EGC, which promises business growth, job creation, and revitalization of a 5.5 acre site. To help the EGC achieve this, NCC has formed an advisory committee composed of representatives from small business organizations, financial institutions, universities, and regional corporations. NCC has structured the advisory committee to include both regional and local representatives.
Regional members have helped identify technical services needed.
For example, the New Jersey Small Business Development Center, once open, will station business specialists at the EGC several days a week and Bell Atlantic s Office of Procurement is providing assistance through its small business mentoring program and procurement services. This committee will draw from law firms, accounting firms, and investment firms with strong regional relationships to identify and attract both local businesses and promising business prospects from surrounding communities. Financial institutions will also help identify prospective businesses from Newark and surrounding communities that could benefit from the customized services of an incubator. Though the EGC is not purely a sectoral strategy, NCC and its partners are working to identify clusters of businesses to locate in the incubator. The notion behind clusters is to identify a business sector that is a strong player in a regional economy.