Paul Green Researches successful Oklahoma business incubator program

When you want to improve your own business incubator program, you visit one that has a history of success and find out what works, and what doesn’t work.

That’s exactly what Paul Green, executive director of the Montana Business Incubator did when he visited an Oklahoma organization, Rural Enterprises of Oklahoma, Inc. (REI). The organization manages 18 business incubators in 11 rural Oklahoma communities.

"I was referred to REI’s web site and after looking at it, I knew this was one organization I needed to visit," Green said. "REI operates a successful business incubator program in a rural area much like ours, so that made it an ideal model to look at for improving our own program."

Green was also interested in learning about Oklahoma’s innovative incentives for business incubators. In Oklahoma, business incubators are certified by the Oklahoma Department of Commerce. This certification provides a great tax benefit to the incubator tenant. Income earned by the incubator business during occupancy is exempt from state income taxes for up to five years. This incentive can extend to 10 years when certain criteria is met, even if the business has located into its own facility.

"I’ve done a lot of research about business incubators but I’ve never found an organization as unique and successful as this one," Green said. "In addition to the great state incentives, what impressed me with REI was the attitude of its people and its solid foundation of teamwork, with a real buy-in from the rural communities."

"We felt honored to have Paul visit us," Kenneth Norris, manager of REI’s business incubator program said. "It was a mutually beneficial visit because we learned a lot from one another and shared good information." While in Oklahoma, Green visited some of the businesses located in REI-managed incubators ranging from technology-based businesses to light manufacturing firms.

The Montana Business Incubator program’s focus is on technology-related businesses. "Technology can work anywhere," Green said, "especially with our network of universities and schools. We’ve got a great start and just need to keep building on it and I believe the information I gleaned from REI’s program will be a big help to us."

Thanks to Paul for sending this along- Russ

Paul Green

Executive Director

Montana Business Incubator

1500 N. University Ave

Billings Mt 59101

406-657-2138

fax 657-2006