Group takes over incubator
Technology Innovation Center sold for $1
The Milwaukee County Research Park’s business incubator is now owned by a new nonprofit group that will seek government grants and other funds to improve the facility.
The Wauwatosa business park’s incubator, known as the Technology Innovation Center, was sold Thursday by Milwaukee County to Technology Innovation Center LLC for $1 said Guy Mascari, research park executive director.
That sale is part of the transfer of control of the research park, located west of Highway 45 and south of W. Watertown Plank Road, from Milwaukee County Research Park Corp. to Milwaukee Regional Innovation Center Inc. Technology Innovation Center LLC is a subsidiary of Milwaukee Regional Innovation Center.
The County Board unanimously approved the transition in December, with the research park board approving it in February. The change means county taxpayers are no longer responsible for maintenance costs at the century-old building.
The research park’s new group will be operated by a 15-member board. It will include six privatesector people, and four academics from University of WisconsinMilwaukee, Medical College of Wisconsin, Marquette University and Milwaukee Area Technical College.
The five remaining members will be appointed by the county executive, County Board chair and Wauwatosa mayor.
Milwaukee Regional Innovation Center, unlike the Milwaukee County Research Park Corp., is a 501(c)3 organization. Such groups are allowed to accept taxdeductible donations.
The research park’s business incubator needs central air conditioning, new windows and other costly improvements. The new group will seek government grants, as well as donations from corporations, foundations and individuals, to help pay for those improvements.
The 80,000-square-foot incubator was originally built in 1915 as Muirdale Tuberculosis Sanitarium. The incubator, 10437 W. Innovation Drive, opened in 1993.
Milwaukee Regional Innovation Center’s assets include around 3 acres and the former sanitarium powerhouse, which are being sold to a developer with plans to build a four-story, 132room hotel and a brewpub.
Nearly all of the business park’s other lots have been sold and developed, with the research park home to businesses that house over 4,600 employees. That includes 45 small businesses, employing over 300 people, at the incubator.