Vacant Waveland business incubator to get tenants

Waveland city leaders have signed a management agreement with The Magnolia Business Alliance to run the vacant business incubator on Coleman Ave.
Waveland city leaders have signed a management agreement with The Magnolia Business Alliance to run the vacant business incubator on Coleman Ave.

WAVELAND, MS (WLOX) - Waveland leaders hope new businesses will soon fill the business incubator building on Coleman Avenue. The spot has remained empty and un-used for more than six months, but that's about to change.

Waveland city leaders have signed a management agreement with The Magnolia Business Alliance to run the vacant business incubator.

"The incubator will open as an incubator. We've gone through a lot with this building and hope to cut the ribbon on it this month," said Ward One Alderman Lili Stahler.

The building will house between eight and 12 businesses, depending on the size.

Stahler said, "Magnolia has been a virtual incubator helping businesses with advertising and accounting and all the sound business practices that people need. And now it will be an actual incubator where they can house people, as well as train and help young businesses."

"The types of businesses, it could be anywhere from incubating young retail to engineering services, legal services, even supporting the start up of brand new enterprises," said Craig Harvey, President and CEO of the Magnolia Business Alliance.

City leaders say striking a deal with Magnolia means Waveland does not have to become a leasing agent, and lets the city off the hook for other financial obligations related to the facility.

"What they're going to be paying is $24,999 per year lease on the building and they're responsible for all the maintenance, insurance and utilities on the building," said Waveland Mayor David Garcia.

The Magnolia Business Alliance expects to officially open the building within 30 days. The goal of the business incubator is to give start ups and even some existing companies, space and help to grow.

The folks at Magnolia Business Alliance say rental rates will depend on the businesses' ability to pay. In some cases, space will be leased for anywhere between $5 and $12/square foot.

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