Incubator programs are designed to offer a support system to entrepreneurs that are attempting to get their company and business off the ground. City Center Lehigh Valley announced plans for a business incubator, that will be housed in the upper floors of 532 W. Hamilton Street.
The building is being renovated as part of the development based around the upcoming Allentown hockey arena. The building development is being subsidized by the Neighborhood Improvement Zone (NIZ), and City Center is looking to turn downtown Allentown into a modern day hub or urban center for entrepreneurs.
The incubator program will specialize in businesses that are technology startups, with fewer than 10 employees, and provide office space to the new companies at a reduced price. A dozen offices from 125 to 500 square feet, ranging in prices from $175 to $565 a month, will be developed on the second and third floor of the building.
Included in the office space is 24 hour access to phones, wi-fi, storage, community conference room and lounge space. There will also be mentoring provided to the firms. In addition to these offices, 14 "plug-ins" for single employee firms will be provided, and have access to the same amenities.