The Community Development Commission helps to strengthen neighborhoods, empower families, support local economics, and promote individual achievement. Surpassing its goals for the first year, the facility is 100 percent leased, with 17 client companies, and more start-up tech firms are knocking on the door to get in. Six additional firms have submitted applications for admission. One has received its second round of investment. The BTC is located in the Altadena Redevelopment Project Area and also a State Enterprise Zone, which enables businesses to receive special tax credits for each employee they hire.
Statistics indicate business incubators work by nurturing new businesses and spawning new jobs.
The National Business Incubation Association states that businesses launched in incubators enjoy a success rate of more than 80 percent. Experts say incubators are key to launching fledgling companies in the competitive technology sector, where start-ups need to act fast to access capital and bring their product to market. They need every advantage they can get to stay ahead of the curve. The technology incubator provides office space at below-market rates. A monthly fee covers utilities, access to the building's technology infrastructure, library, sessions with a mentor, and access to professional services.