Feel free to share with your colleagues, friends, and anyone who supports a thriving, diverse, local economy and we invite you to help support this important initiative. Contact Mary Ann Kristiansen for more information at mak@hannahgrimes.com or 603-352-5063.
The Case for Support – 25 Roxbury Renovation 12 pages of detailed information
Hannah Grimes Center: 25 Roxbury Renovation Summary – 1 page summary
Construction began September 15, 2014. Why? Why Now? An Overview of the Plan.
Demand for Hannah Grimes’ business incubator and educational program space has grown rapidly and is on the verge of exceeding capacity. So we’re embarking on a renovation project for the second floor of our building at 25 Roxbury Street.
100% of net new job growth comes from companies less than five years old. Start-ups, new businesses and growing businesses are the lifeblood of meaningful economic and community development.
Hannah Grimes ser
ves this critical segment in the Keene Region with innovative and successful entrepreneurial programs – generating measurable economic results for the community and the organizations it serves. And Hannah Grimes’ business incubator and program space has reached capacity. To improve the chance of success for more businesses, Hannah Grimes needs to renovate the underutilized upper level at its 25 Roxbury Street location.
About 80% of all new businesses fail in the first five years… at Hannah Grimes, over 80% succeed. And they pay wages 14% higher than the county average.
What Will the Renovation Accomplish?
The renovations will result in numerous improvements:
- Create eight new offices for incubator tenants
- Add a conference room with a capacity of 70
- Make the space handicapped accessible
- Improve energy efficiency
- Create a common entrance
- Connect the two floors
- Improve the facade on Roxbury Street
Hannah Grimes is an efficient organization and effectively leverages invested dollars to maximize impact for entrepreneurs and the community. Since the inception of Hannah Grimes Marketplace in 1997 and the Hannah Grimes Center in 2006, earned income has accounted for 82% of all operating income, greatly leveraging donations. Upon completion, the project will contribute an additional $25,500 annually to Hannah Grimes’ earned income.
The $805,650 Renovation Project will Substantially Increase Hannah Grimes’ Ability to Start and Grow Businesses in Our Region.
We warmly invite you to join us to build “what’s next”. You will help ensure that Keene enjoys a thriving local economy and vibrant community.
The Business Case for Second Floor
Renovations at 25 Roxbury Street
The growth of entrepreneurship in the Keene Region – driven by natural market forces – needs and deserves our cultivation and support. To serve the existing and future needs of entrepreneurs in the region Hannah Grimes needs to grow as well.
- Start-ups and new businesses are a prominent element in the economy of Cheshire County, growing job creation 78.8% year over year (2011-2012) and growing sales 48% in the same period.
- Job creation is the essential core of successful economic and community development.
Hannah Grimes is a Proven Organization
- Hannah Grimes delivers educational business programming, enterprise incubator programming, office space services, and facilitates community projects
- On average, new businesses participating in Hannah Grimes Business Incubator Program have grown their revenue 29% (2011), 44% (2012), and 297% (2013).
- In 2013, Business Incubator Program tenants employed 13 people and generated $1.9 million in revenues.
Since 2008 the number of businesses in the region seeking business support from Hannah Grimes has increased tenfold.
The Growth of Entrepreneurship in the Region has Resulted in Hannah Grimes’ Incubator and Programming Space Filling to Capacity.
- In 2007, to address emerging needs for an incubator program, office space, and business skills programming, Hannah Grimes purchased the 25 Roxbury Street building. Quickly, the available suite of 8 offices was filled.
- Renovation of the lower floor of 25 Roxbury Street, completed in 2011, added 18 new small business/incubator offices.
- By standard commercial real estate measures, this space is already near capacity.
Hannah Grimes is an Efficient Organization.
Hannah Grimes effectively leverages invested dollars to maximize impact for entrepreneurs and the community. Operationally, we have achieved a significant level of financial sustainability.
- Since the inception of Hannah Grimes Marketplace in 1997 and the Hannah Grimes Center in 2006, earned income has accounted for 82% of all operating income.
- Hannah Grimes’ emphasis on maintaining lean staffing levels and implementing efficient operating processes minimizes overhead, leaving more resources for programs and entrepreneurial support.
- The renovation improves Hannah Grimes’ ability to be financially self-sustaining, adding $25,000/year to earned income.
By 2016, with renovations complete, earned income will account for over 50% of total organizational revenues.
Give Back by Helping Build “what’s next” for the Keene Region
- By helping “what’s next”, you’re helping to ensure that Keene enjoys a diverse and robust economic base, encourages an engaged civic community, and attracts young professionals and families well into the future.
- Investing in Hannah Grimes assures that new businesses will continue to flourish and take root in the community.
