NORMAL — The former Uptown Renewal office will be the new site of Slingshot Co-Work, a technology incubator.
The Normal City Council on Monday approved an agreement with Bloomington-Normal Angel Investor Network Inc. for the space at 108 E. Beaufort St. Slingshot Co-Work will be required to pay utilities after it reaches seven memberships and will pay $200 a month that the town will use to cover property taxes. The pact is for one year but may be extended for up to two more years.
“What a great opportunity for us to support growth and jobs here,” said Councilman Kevin McCarthy.
McCarthy noted that several companies have started in the Twin Cities but “unfortunately” left the community. “This tool can help change that,” he said.
Slingshot Co-Work will offer space for technology-based start-up companies and others who are developing computer programs and/or applications. Bloomington-Normal Angel Investor Network Inc. also can link them to potential investors.
Article originally published in the Pantagraph, view the full article here.