USAID-Supported Business Incubator to Hand Over Keys to Tenants

April 3, 2008

On Friday April 4th, the Municipality of Krusevac will officially hand over keys to companies selected to be tenants within the soon to be completed Business Incubator Center. The United States Agency for International Development (USAID) contributed toward the building of the site and the access road, as well as providing technical assistance to the Municipality to help it to apply “Step-by-Step” methodology in establishing the Center. Primary construction of the facilities was funded by the Municipality and the National Investment Plan.

Support to the Business Incubator Center is just one of the many ways in which U.S. assistance cooperates closely with local partners in Serbia. USAID’s Municipal Economic Growth Activity, through which this project was implemented, develops the skills of local governments to foster economic growth and employment by creating a business environment where the local private sector can flourish.

Through this U.S. assistance project, approximately 25 economic development projects have been completed or are now being implemented all around Serbia, including; other business incubators, business improvement districts (BIDs), training and education centers and industrial zones. In addition, the project has helped 21 partner municipalities to establish Local Economic Development offices which have helped these Municipalities attract almost $300 million in investments and create approximately 6,000 jobs.

U.S. Assistance to Krusevac: The Municipality of Krusevac has been a longtime partner of USAID. As part of the Community Revitalization through Democratic Action project, Krusevac and USAID completed 200 projects together, with a value of over $6 million. The Municipality contributed 38% of this amount with the American people providing the remainder. Cooperation with Krusevac continued through the implementation of USAID’s Local Government Reform Program, and it is currently a strong partner of the Municipal Economic Growth Activity.

What is a Business Incubator Center (BIC)? A BIC can provide small enterprises with, not only a place to work, but also with a comprehensive set of services such as business support, clustering and networking opportunities, strategic guidance from industry experts, and operational space and assistance.