The Terrebonne Economic Development Foundation (TEDFo), which works in conjunction with Terrebonne Parish Economic Development Authority (TEDA), will house a business incubator to stimulate economic growth and promote community and organizational partnerships.

 

TEDA is currently searching for a start-up business that would benefit from the business incubator program.

 

After a recent study, TEDA and the Chamber of Commerce discovered a need within the entrepreneurial community for a business incubator program.

 

The business incubator program is available to a company that is in an early stage. The program will provide the company with a full array of business planning, management and financial services. The program is an essential economic development tool for communities that are trying to improve their economies.

 

"The business incubator program is a fantastic way to support the successful growth of a developing company through TEDA's specialized business support program," said Shannon Rhodes, TEDA Business Liaison/Community Development Specialist.

 

The program provides an environment that supports and nurtures companies and individuals seeking to create and expand their business. Overall, the program yields excellent returns.

 

According to research, 80 percent of the companies that "graduate" from an incubation program remain in the community. National Business Incubator Association reported that on average, 87 percent of incubator graduates are still in business.

 

If you are interested in participating in the business incubator program, please contact Shannon Rhodes at srhodes@tpeda.org or (985) 873-6890.