PEDA Approves Location For Innovation Center
 BIC Chairman Stephen Boyd and Architect Derek Noble outlined possible growth possibilities at site 3. |
On Wednesday morning, the board approved using what is called "Site 3" for the new $9.75 million building.
The location is west of the originally envisioned "Site 5" and sits on the western side of the corner of East Street and Woodlawn Avenue.
"We only do this once and want to get it right," said Pittsfield Economic Development Authority Chairman Mick Callahan.
The site selection came after architects spent five or so weeks envisioning plans for both the building and the future of the William Stanley Business Park. Sites 5 and 3 sit on either side of Woodlawn Avenue along East Street.
"It gets down to the nitty gritty of loading docks and parking," Callahan said.
BIC Chairman Stephen Boyd said the location will allow for the building to start a "campus setting." The building will be positioned in a way to allow other companies to build next to it and parking lots and roadways can connect them.
"We want to make sure we maximize the return on the investment," Boyd said of the startup funding the city and PEDA combined to give the fledgling organization. "We think the campus setting is a real win for the PEDA property."
The center is hoped to kick start the growth of other businesses. The center will feature some $2 million in new equipment and companies will pay dues to use the facility for such things as research and development. Those businesses could later build larger manufacturing plants on the site.
"There are options, plain and simple, for expansion," PEDA Executive Director Corydon Thurston said of the design.
Architect Derek Noble of Steffian Bradley Architects showed an array of options for campus setting that would accommodate new companies.
Overall, PEDA's mission is to redevelop the William Stanley Business Park. The BIC will become the third major use of property, the other two being a massive solar array along Silver Lake and the MountainOne Financial Center.
 PEDA also approved a 2015 budget that reduces spending on operations by 12 percent. |
The non-profit BIC is expected to open in summer 2016 as an incubator space for small and medium businesses.
PEDA still has more than $4 million it is eyeing for incentives. The next marketing campaign, according to PEDA board member Christina Barrett, will help highlight the organization's willingness to help businesses relocate here.
The organization has also been cutting its operations budget in each of the last three years with the thought of freeing up more cash for incentives.
Board member Michael Matthews said the organization has freed up $250,000 in the last few years, which enables it to provide that much to BIC to bridge the gap for start up.
"Hopefully, we get to a tipping point where the park sells itself," Matthews said.
The board also approved a $346,624 operating budget; it has $676,271 in funds committed to projects such as the BIC. The operational budget features a 12 percent cut from the previous year, according to Thurston.
"The actual operational budgets are down," Thurston said.
Tags: business park, innovation center, PEDA,
