The concept of business incubation has been successfully applied throughout the nation and around the world. It can offer better returns on investment for successful business creation, job and revenue growth with measurable direct and indirect economic impact.
New Jersey supports a network of seven technology business incubators.
These innovative and entrepreneurial enclaves are administered through New Jersey's academic sector and currently house over 100 businesses. The Commission has announced an initiative for FY 2001 and beyond, to expand the technology business incubator network in New Jersey. This expansion plan will take advantage of the well documented economic benefits that can be derived from the incubation model. Construction is expected to begin early 2001. Groundbreaking is estimated for early 2001 with operations to begin in the fall of 2001.