Contact: Rob Ostrander 202.224.7627 Shana Stribling 202.224.0309
Tuesday, April 18, 2006

ST. JOSEPH, MO U.S. Senator Kit Bond today joined local business, civic and academic leaders at Missouri Western State University (MWSU) to discuss the proposed business incubator project that will increase research lab space and encourage public-private partnerships in the region.

“The proposed facility will serve as an economic development tool for local businesses, while attracting new, innovative businesses to the region,” said Bond. “This incubator will be more than a building. It will be more than classrooms or research labs. This incubator will benefit the students working to earn a degree and more importantly earn a job upon graduation.”

Bond, in conjunction with local leaders, has been working with the U.S. Department of Commerce’s Economic Development Administration on MWSU’s $2 million grant application for the proposed business incubator project.

According to Bond, this project would make a real difference in the St. Joseph region. Business incubators are proven to work, Bond pointed out. Incubators work with local companies; the companies create new jobs, and then those jobs go on to create other jobs in a ripple effect that is felt throughout the community.

Bond praised Missouri Western for taking the lead on the business incubator project. He stressed that by combining Missouri Western, a tremendous asset to the community, with the local workforce and their work ethic, and channeling our energy, St. Joseph and Buchanan County will be on the path toward long-term economic viability.

Also, Bond thanked the EDA State Director, Paul Heildebrandt, for attending today’s discussion in St. Joseph and for working on final funding approval of the incubator project.

As Chairman of the Subcommittee on Transportation and Infrastructure, Bond has oversight of the Economic Development Administration. Bond praised the EDA for their impact in communities and pointed out that it is the only federal agency focused solely on private sector job growth and sustainability. By working with its local partners the EDA has helped many areas around the country create new jobs, expand existing businesses and develop comprehensive strategies for competing in today’s global marketplace.