Memorandum: Birmingham's Entrepreneurial District puts imprint on area
Published: Thursday, September 08, 2011, 9:15 AM
By Special to The Birmingham News The Birmingham News
Susan Matlock is chief executive of the Innovation Depot which part of a plan to encourage the development of a concentration of technology businesses in the Birmingham city center. (The Birmingham News/Linda Stelter)
Branding an area or a region is important to its ultimate success.
Branding must be followed by progress that leads to the full achievement of the reality of the initial vision. In 2003 the city of Birmingham established the Entrepreneurial District, which is bounded by I-65 to the west, 18th Street to the east, both sides of Second Avenue North and First Avenue North to the railroad tracks.
The creation of this district represented a vision to seek full benefit of the Entrepreneurial Center business incubation program which already existed in this district and was then headquarters to about 24 early stage businesses. The establishment of the Entrepreneurial District was recommended by TechBirmingham as a way to encourage the development of a concentration of technology businesses in the Birmingham city center.
In 2007 the Entrepreneurial Center joined with the University of Alabama at Birmingham, the city of Birmingham, Jefferson County and the regional business community to create the Innovation Depot in the former Sears building on First Avenue North -- a structure that had been vacant for 20 years and stood in the heart of the Entrepreneurial District. Eighteen million dollars was spent on the acquisition and renovation of the 140,000-square-foot facility, which is the largest business incubation program in the Southeast.
Today there are 76 high-growth-potential businesses at the Innovation Depot employing 450 people -- 36 information technology, 12 biotechnology/life sciences, 12 engineering/technology and 11 service businesses. With the completion of its interior build-out by the end of 2011, the Innovation Depot will increase its occupancy to 90 companies employing 650 people. The Birmingham Venture Club, TechBirmingham and the Biotechnology Association are located at the Innovation Depot. The Culinard Café serves the clients at the Innovation Depot and is popular with customers from across the region, including UAB, bankers and other downtown professionals.
The Innovation Depot is in the center of the Entrepreneurial District and is one block from the Railroad Park, two blocks from the baseball stadium site and 2½ blocks from the beginning of UAB property. Landscaping and street improvements along 14th Street connect the Entrepreneurial District to UAB. The proximity of legal, accounting, banking and other professional resources underscores that the Entrepreneurial District is strategically located to enhance economic development of the city center.
Other businesses in the Entrepreneurial District include Dog Days, Terracon Consulting, Magic City Motor Scooters, Universal Apparel, Hatcher's Florist and Modern Brand Co. The Entrepreneurial District has two significant loft apartment buildings (Phoenix Building and Jemison Flats) that have 130 rental units. Additionally, the Birmingham Police Headquarters and the Birmingham Regional Planning Commission occupy two complete buildings in the Entrepreneurial District.
The Birmingham Business Alliance's Blueprint Birmingham affirms the critical role of the importance of attracting, retaining and creating technology businesses to brand and grow our region. The vision behind the creation of the Entrepreneurial District was the same. The continued progress toward achievement of full brand recognition for the Entrepreneurial District is an important contributor to the success of Birmingham and the region.
This memorandum was prepared by Susan W. Matlock, president and CEO, Innovation Depot.
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