Incubator sweating on council support
WORK to revitalise business incubator Townsville Business Development Centre has paid “enormous dividends” but the group remains reliant on the support of Townsville City Council, the centre’s chairman Michael Brennan says.
Mr Brennan was commenting during the group’s annual meeting yesterday as it continues to seek clarity on the council’s plans for a Condon property in which the group operates.
The centre discovered the council was looking to “exit supporting the venture” by reading an impairment note in the council’s annual report released in October, although a council spokesman has said no decision has been made about the property.
Mr Brennan said the centre had faced challenging financial circumstances over year, forcing it to place in the market.
A qualified accountant and the past assess its specialist communicator and brand manager were added to the board, and a new CEO, Ben Verning, was appointed.
“The hard work has paid enormous dividends with interest in the incubator space at record levels. In early November, the incubator capacity reached 105 per cent,” Mr Brennan said.
But Mr Brennan said the centre was at a crossroads.
“The future of the TBDC and the services it offers are heavily reliant upon the continued support of the Townsville City Council,” he said.
“We hope to have a positive resolution very soon. The board looks forward to renewing the incredibly valuable partnership with council.”
The board includes deputy chair Greg Leslie (Battery World), secretary Mark Rushbrook (Newbridge Civil) and treasurer Mandeep Singh (PVW Partners).