Business Incubators > Frequently Asked Questions
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What is an REI business incubator?
Business incubators are facilities that provide a professional physical space and technical business assistance for start-up or expanding companies to help them develop and grow into mature, profitable and job-creating concerns.
How do I participate in the program?
There is an application that must be completed along with a business plan executive summary. This is used to determine if your business is a fit for the program, has the opportunity to create jobs in the community and the ability of the owner to manage and operate a business.
What is the average length of stay?
On average about 3 years, even though this may range from 2 to 5 years. Most businesses outgrow the available space or reach the point where it is advantageous to locate into their own facility in the community.
What are some of the benefits?
Benefits for businesses and entrepreneurs include: - Reduced overhead with graduated rent schedules
- Access to business financing
- Oklahoma State tax exemption from income tax
- Access to the equipment program
- Consistent hands-on management assistance
- Partner resources
- Publicity for the business through REI publications and news releases
Where are these incubator facilities located?
REI manages Oklahoma State Certified facilities in the communities of Ada, Allen, Bennington, Durant, Warner and Wetumka. Some locations have specific benefits such as high speed internet, meeting room access, truck docks, overhead doors, office furniture, and other amenities.
For more information call REI at 800-658-2823
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