Starting a new business can be difficult. In Newburgh initial investments, insurance and acquiring space create a high barrier for entry.However, the city does not lack in vacant properties as well as in available local skill sets. We propose to establish a nonprofit organization that will take on the role of ‘match-making’ these resources, by using vacant sites on a temporary basis to pilot new businesses.
This model offers an opportunity to create new life within underutilized areas, while offering opportunities for economic development. Our organization will partner with interested investors to help lower the barrier to entry while mitigating the risk of starting a business. Though there is no guarantee that a business will be successful, the infrastructural investment is designed so that if a business does fail, the initial investment can still help future uses of the space. As small businesses succeed, these temporary improvements can work as a catalyst for permanent development. By rehabilitating vacant spaces and providing the initial investment we help to add value to the property.
The aim of our organization is reducing vacant lots and buildings while generating new jobs and businesses in the area, and promoting stronger community ties through skill sharing.