Hamilton County's small business incubator generated $17 million in revenues and investments over the last year, and $13 million of that amount were new dollars into the economy, according to the Chattanooga Area Chamber of Commerce.
Also, of the roughly 70 businesses in the INCubator, 45 percent are minority- or woman-owned, according to a new report released today.
"For 29 years, business owners have been graduating from the INCubator and adding to our economy," said Hamilton County Mayor Jim Coppinger.
Charles Wood, the Chamber's vice president of economic development, said that when new dollars enter the county, that investment will generally be spent locally.
"INCubator clients currently employ more than 300 people. And we track what happens to businesses after they leave. Our latest figures show a 93 percent success rate for INCubator graduates," he said.
The INCubator located at Cherokee Boulevard and Manufacturers Road is owned by Hamilton County and operated by the Chamber.