The U.S. Department of Commerce awarded $4 million to the city of Flagstaff to help build a new 25,000-square-foot building—next door to the Northern Arizona Center for Entrepreneurship and Technology (NACET)—that will serve as an accelerator with wet and dry laboratories, a 5,000-square-foot area of light manufacturing space, and offices.
Construction of the new $7.8 million building is set to begin in early 2014. In addition to the federal grant, the project is being funded by the state, Northern Arizona University, and voter-approved bonds.
This building is the first of three planned for Phase 2 on the 9-acre site. The plan is to construct 75,000 square feet for a science and technology park.
The hope is the new accelerator will attract start-ups from NACET.
For more information:
“Grant for $4M to fund second incubator in Flagstaff,” Arizona Daily Sun, 9/14/2012
“Flagstaff, Arizona awarded $4 million to build new accelerator,” The Accelerator Gazette, 9/17/2012