Issue link: https://alabamapower.uberflip.com/i/1029341
Lake Martin has always been known for recreation, and now the Alexander City Chamber of Commerce is also making it a place for incubation. In addition to being home to the chamber's offices, the Lake Martin Innovation Center is a business incubator providing low-cost office space and support to young businesses. e chamber moved into the former bank data center in February 2017 with big plans for the large space. Chief among them was a dozen suites for startup companies to set up and grow in Alex City. Chamber officials visited other business incubators throughout the state to discover best practices. "So far-so good," said Ed Collari, president and CEO of the Alexander City Chamber of Commerce. "Being in a rural community, we faced our challenges. Most of the facilities we toured throughout the state are in the backyards of four-year institutions, so being here in Alex City in rural Alabama we definitely had our issues. But so far, a year and a half in, it's been a very solid success." Collari said the visits to other incubators helped the chamber with its "R&D – ripoff and duplicate" plan. ey learned that successful incubators bring in tenants that have expertise in law, information technology and accounting so that they become an in- house resource to other tenant companies. Lee Williams opened an Alex City office for law Birmingham's Nowlin & Associates Wealth Management in the Innovation Center. "ey've done a great job at trying to keep overhead low for new businesses," he said. "To be able to come into a facility like this and have the resources we have is really, really nice for a company that's just starting up." Williams said the intimate setting at the Lake Martin Innovation Center helps bring tenants together. "It's like a small family," he said. "Even though we don't necessarily work together, you almost feel like you do." Williams said he's made good friends among the companies and chamber members. "ey've got a great group of tenants in here right now," he said. Having a business incubator program is not common in a town the size of Alex City, Williams noted. "You could go to a lot of smaller towns and you're not going to see anything like this. To be able to be a part of it is really special," he said. "I think it was great timing and I think it's something that for future new businesses is going to be a great stepping stone and a great platform for them to grow their businesses and get out into the community and be able to make a difference." Collari said Lake Martin is a key to the Innovation Center's success. Not only does it offer the quality of life features that young entrepreneurs look for in a community, but it has an important resource that is not so obvious. "Lake Martin is what we lean on," Collari said. "We don't have that four-year college, but what we do have is Lake Martin – not just the financial resources that 29 www.apcshorelines.com