UT to dedicate new $4 million technology business incubator building April 2 | UToledo News

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UT to dedicate new $4 million technology business incubator building April 2

The University of Toledo will further augment its business incubation efforts with the dedication of the Nitschke Technology Commercialization Complex Friday, April 2, at 10 a.m. The new building is located just south of Nitschke Hall Auditorium on Main Campus.

UT President Lloyd Jacobs will join U.S. Rep. Marcy Kaptur, Norman Nitschke and C. Robert Sawyer, Chicago regional director of the U.S. Economic Development Agency (EDA), for a short ceremony.

The Economic Development Agency provided $2 million toward the project. The grant required a one-to-one match. The state of Ohio provided a match of $1 million. Nitschke, a longtime UT supporter, completed the match with the final $1 million to make the project a reality.

“The University of Toledo has a central role to play in the economic development of the city and the region,” said Dr. Frank Calzonetti, UT vice president for research and development. “The generosity of Norm Nitschke and the tireless work of Marcy Kaptur have been essential components of this project and the University’s broader business incubation goals. I firmly believe the EDA will be impressed by the economic return their investment will generate.”

Nitschke said, “This facility will help commercialize countless new and developing businesses that in turn will help lead this region’s economic revitalization.”

Megan Reichert-Kral, UT director of incubation, said the new complex would focus on technology companies, whether they would be companies that outgrew the Clean and Alternative Energy Incubator next door, from University research such as advanced materials and manufacturing in the College of Engineering, or tech companies in the community.

“This new incubator, coupled with our Clean and Alternative Energy Incubator and our Innovation and Minority Business Accelerator located on our Scott Park Campus of Energy and Innovation, position UT as one of the key partners in the effort to develop high-tech jobs in this region and throughout the state,” Reichert-Kral said.

Reichert-Kral also emphasized the important role local public officials, particularly the Lucas County Commissioners, and the White Paper process from the Toledo Regional Chamber of Commerce played in strengthening the project.

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