Mason looking to extend economic development program to Fauquier County

President Cabrera (third from left) joins Fairfax Mayor Silverthorne (fourth from left) in a ribbon-cutting ceremony following renovations to Fairfax's Mason Enterprise Center (photo courtesy of MediaForce PR).

After successful trials in Fairfax and Leesburg, the Mason Enterprise Center may soon be partnering with Fauquier County to establish a business incubator program.

Fauquier County Economic Development Director Miles Friedman outlined three potential sites for the program, which is designed to assist startup companies by providing office space and other services.

 The County Board of Supervisors expressed support for the program, but decided to wait for a more detailed financial outline before committing to funding.

“We would run it,” said Keith Segerson, managing director for the Mason Enterprise Center. “It was a project that began with a conversation between myself and Miles Friedman. He has worked with us on a similar project in Leesburg, and he worked with us in other programs in the past. It seemed to make a lot of sense in our conversation.”

According to a study by Purdue University, business incubators boasted a 2:1 success rate, and 84 percent of incubator businesses remained in the local area after graduating the program.

One of the locations the supervisors visited before the meeting was the Leesburg Incubator, which opened in 2011 and hosted approximately 60 percent technology companies. In choosing a site for the Fauquier County, Segerson emphasized the importance of placing the incubator near the city’s center.

“Based on our experience, we did react with observations on what works and what doesn’t work,” said Segerson. “Some of the key factors are it needs to be very near the old town section, because the entrepreneurs and companies want access to amenities like coffee shops and bakeries. The one in Fairfax is near old town, the one in Leesburg is near the old town.”

According to Friedman, the first year of operations is expected to cost $123,000, with expected revenue of only $86,000, meaning the site would require local government financial support. By the third year, the sites would be expected to be making a profit.

For Segerson, the benefits of a business incubator extend beyond the startup companies.

“Companies could rent offices, working spaces, networking, and services, professional services like counselors, financing, bank loans. Not only for people in that facility… but also for companies throughout Fauquier County,” Segerson said. “Not academic programming, but professional.”