Ratepayers again back incubator

Ratepayers will support Manawatu's business incubator, The Bio Commerce Centre, for at least the next three years.

Palmerston North City Council's finance and performance committee has voted to give the centre $115,000 for the next three years and then review the situation.

Mayor Jono Naylor said the three-year deal would give the centre medium-term security about its funding. "I believe some organisations do need certainty."

The $115,000 was the same amount as had been granted previously.

Mr Naylor said the research and innovation sector of the economy was of significance to the Manawatu region.

Committee chairman Jim Jefferies said the funding would help make sure the Bio Commerce Centre continued to be a viable organisation. The council supported the centre because it helped to create jobs in the "bio-industry".

Bottling firm Xenos, which won an innovation prize at last week's Manawatu Business Awards, was an example of the centre's success, he said.

- © Fairfax NZ News