SPRINGFIELD, Mass. (WWLP) – A ribbon cutting was held Thursday for the new Springfield Innovation Center.
Congressman Richard Neal and Springfield Mayor Domenic Sarno attended the event along with the DevelopSpringfield board of directors.
The Springfield Innovation Center is a “mixed-use” center for entrepreneurs that will serve as the cornerstone of downtown Springfield’s newly designated Innovation District. The renovations done to the historic 19th-century building cost $7 million.
The buildings were renovated for use as a business accelerator based on the MassChallenge model that will be operated by Valley Venture Mentors along with a ground floor restaurant/cafe and complimentary commercial office space designed to support new business start-ups and help foster a culture of entrepreneurship within the city.
“They don’t have a lot of capital, collaborate with other start-up and come up with a great idea through collaboration.”-Ronald Molina-Bradley Valley Ventures Mentors
Congressman Richard Neal and Mayor Domenic Sarno spoke during Thursday afternoon’s ceremony honoring the completion of the extensive renovations to the home of Valley Ventures Mentors.
“Springfield many many years ago was the hub of innovation, not only the nation, but even the world, so it’s back to the future.”-Mayor Domenic Sarno
The Springfield Innovation center expects multiple new tenants to occupy the building in the near future, including Berkshire Bank who are set to move in around early 2020.
Berkshire Bank is developing an outreach center designed to help under-served communities access banking services and business capital.