Enterprise Fredericton helping businesses succeed, encouraging entrepreneurs (News)

By STEPHEN LLEWELLYN
Daily Gleaner


Enterprise Fredericton is about to open a nursery for new businesses in the capital's Knowledge Park.

It is actually called the business accelerator centre and it will let rookie entrepreneurs concentrate on their ideas and not worry about basic office operations.

"The centre will have eight offices and a small board room," said Enterprise Fredericton CEO Doug Motty Tuesday.

The first tenant is expected to move into the centre in a couple of weeks and the official opening is planned for the middle of July, he said.

Motty said there has been a lot of interest in the centre and it will expand based on demand.

The business accelerator centre is just one of the projects Enterprise Fredericton is working on.

On Tuesday the organization held its regular community advisory forum to explain those projects to the public.

"We usually do it four times a year so that way we can keep the community up to date with what is going on," said Kevin Kilbride, chair of Enterprise Fredericton.

He said the general community probably doesn't know all the services available through Enterprise Fredericton.

"We are kind of dominated here by the government and the university so business does its own thing under the radar," he said.

Kilbride said the goal of Enterprise Fredericton is to help business succeed, encourage new entrepreneurs, bring in immigrant entrepreneurs and grow the economy.

"Activity breeds activity," he said.

Kilbride said the attitude of the business community right now is positive. But there is a large demand for quality employees that is concerning many businesses, he said.

"Business can't grow without them," said Kilbride.

Motty also gave an update on the Fredericton Knowledge Park off Regent Street and its potential for future growth.

He said the park currently has three buildings and a new client is talking about leasing 30,000 square feet ,which would require a fourth building.

"We have plans to have a total of 17 buildings "¦ over the next 10 to 15 years," he said.

Enterprise Fredericton commissioned an economic impact of the Knowledge Park that shows three buildings generate $68 million a year in employment and taxation, said Motty.

The study also shows that 17 buildings would generate $414 million annually, he said.

"The impact of doing an initiative like this is significant," he said.

Enterprise Fredericton recently moved its office to the Knowledge Park.

Motty also said some private developers have asked about constructing a building in the Knowledge Park for clients.

The original development agreement for the park did not allow private buildings, he said.

But a new third party development policy has been reached which would allow it in the future, he said.

"The long-term vision is to have continuing growth based on demand," said Motty.

Enterprise Fredericton board member Mark Wies reported on the organization's attempt to attract new investment and businesses to the capital.

He said Enterprise Fredericton hosted 17 different companies to visit Fredericton last year and it is currently working with nine companies.

Two new companies, ING Engineering and Research in Motion, recently agreed to set up operations here, he said.

Board member Susanne Alexander provided an update on the organization's population growth strategy and said it hosted 2,325 individuals last year, 874 of whom were from China.

She said in the past six years nearly 2,500 new residents came to Fredericton along with 814 temporary workers and 1,774 foreign students.

To help businesses and workers find each other Enterprise Fredericton is working on a new online resume and job posting tool that will be free and easy to use, said Alexander.

Enterprise Fredericton also named the Multicultural Association of Fredericton as the winner of its quarterly economic champion award.

"We are delighted to be the recipient of this award," said association president Dr. Baukje Miedema.

She said last year the association provided 610 newcomers to the region with employment services.