Kimco Realty Corporation : Kimco Launches KEYS Business Incubator Program for Qualified Startup Entrepreneurs
04/25/2012| 08:40am US/Eastern
Benefits Include Free Rent and Access to Educational Resources SCORE,
SBDC and Kauffman FastTrac
According to the 2011
Kauffman Index of Entrepreneurial Activity, approximately 440 out of
every 100,000 adults in California start new businesses each month,
making California the third most entrepreneurial state in the country.
To help small business owners like these, Kimco Realty Corporation
(NYSE: KIM) has created Kimco Entrepreneurs Year Start (KEYS), an
innovative incubator program for aspiring entrepreneurs seeking to
launch their first retail venture, service operation or restaurant. With
entrepreneurship up 13 percent in California in the past decade, the
largest increase among the five most entrepreneurial states, Kimco will
initially focus the KEYS program here. Kimco owns over 110 shopping
centers comprising more than 3,200 stores in California, with
approximately 100 small retail spaces available for KEYS participants.
"We're going to do so much more than just place tenants in spaces and
say, 'Good luck,'" said Conor Flynn, Kimco's Western Region president.
"We're going to work with them every step of the way," he continued,
"from the initial planning concepts, selecting locations, obtaining
occupancy permits from the city, and advising them on the different
stages of building a business."
In addition, Kimco has developed relationships with established
educational organizations such as SCORE,
formerly known as the Service Corps of Retired Executives, the
California Small Business Development Center (SBDC),
FastTrac and others that offer business resources and networking
support. Dedicated Kimco advisors will meet with prospective tenants to
analyze their potential businesses, examine their growth plans, and
explore how they can best succeed.
KEYS program participants will benefit from:
One year of free rent
Affordable property charges (NNN) to minimize initial overhead
Access to personal Kimco retail business counselors
A flexible four-year lease option after the first year
Access to shop space in established retail centers
Each interested KEYS applicant will provide a written business plan with
specific goals and objectives, and demonstrate adequate funding for
their venture. Applicants must be able to articulate their plan for
success in an interview. An endorsement, certificate, degree, or letter
of completion from small business educational classes or a college or
university is also recommended.
The KEYS program launches today in California, where there are currently
more than 100 retail and restaurant locations under 2,500 square feet
available to entrepreneurs in Kimco centers.
For more information on the Kimco KEYS program or to obtain an
application, please visit www.KimcoKeys.com
or call 1-888-668-1690.
Kimco Realty Corp. (NYSE: KIM) is a real estate investment trust (REIT)
headquartered in New Hyde Park, N.Y., that owns and operates North
America's largest portfolio of neighborhood and community shopping
centers. As of December 31, 2011, the company owned interests in 946
shopping centers comprising 138 million square feet of leasable space
across 44 states, Puerto Rico, Canada, Mexico and South America.
Publicly traded on the NYSE since 1991, and included in the S&P 500
Index, the company has specialized in shopping center acquisitions,
development and management for more than 50 years. For further
information, please visit www.kimcorealty.com,
the company's blog at blog.kimcorealty.com,
or follow Kimco on Twitter at twitter.com/kimcorealty.
Kimco Realty Corporation
David F. Bujnicki, 1-866-831-4297
President, Investor Relations and Corporate Communications
© Business Wire 2012