LaunchIt has a new tentant.
A new local business, The Scent Boutique, will be moving into the business incubator operated by the town and the Minto Chamber of Commerce on June 1. The business will take over the space previously occupied by Innovative Printing, explained business development coordinator Sommer Gerber at the May 5 council meeting.
“The Scent Boutique is a brand new start up business that’s moving in,” said economic development manager Belinda Wick-Graham.
The additional tenant, combined with plans by Infrastructure Ontario to rent the facilities meeting room 1-2 times per week at $50 per day for the remainder of the town’s lease “will make up the rental income lost by Innovative Print’s graduation from Launchlt and allow us to maintain possession of Unit 3,” stated Gerber in her written report.
Gerber also told council LaunchIt’s Business Flight Program is completely filled up.
On April 30, she noted Launchlt will be a case study for Economic Development Practitioners in the first year program at the University of Waterloo. A group of students toured the facility on April 30 and presented their first impressions and suggestions for attracting new tenants and clients later in the evening at the University.
Renew program in
Wick-Graham also reported the on plans for a Renew Northern Wellington program, which is modeled after Renew New Tecumseh. This program helps fill vacant downtown storefronts with start-up businesses and is “a perfect fit” to align with Launchlt Minto services, she explained.
The Town of Minto and the Township of Mapleton are able to join the Renew Northern Wellington Board for a cost of $500. Wellington North, received Trillium funding for the inivaitve and paid about $9,000 to purchase program materials and copyright from New Tecumseh.
“We just pay a sub-licensing fee of $500,” Wick Graham explained, noting the program covers some costs, such as hydro and insurance for startup businesses utilizing vacant spaces and “basically makes downtown vacancies look more appealing to take over.”