A joint economic development initiative of the City of Danville and Pittsylvania County, the Dan River Business Development Center (DRBDC) was opened as an incubator facility in April of 2001. The DRBDC has developed the framework necessary to sustain the development of a diverse mixture of new entrepreneurs in the region, inclusive of technology businesses, research labs, distribution headquarters, professional service firms, and temporary support for transitional companies.

Milestone Update:

• 81% occupancy (100% industrial, 50% office)
• 10 tenants with 119 employees
• Graduation success rate into region - 81%
• 22 graduates employing 1762 persons (255 from small business start-up businesses)
• $53.5 M Revenues / $2.6 M Equity tenants (2008)

Since the first eight years of operations, 18 of 22 or 83% of DRBDC “graduates” are now operational in the region employing 1762 persons.  Currently at 81% occupancy, DRBDC houses 10 tenant businesses, creating 119 jobs in our region.  Over the past four years, tenants have made over $228M in revenues (excluding transitional tenants), returning income in the form of a growing tax base in our community, and employing area citizens.  An additional $51.2M in equity funding was generated by center tenants in 2005-2008.

The center is now evolving into a more pro-active business resource for entrepreneurial development, providing coaching, mentoring, and advice for area businesses.  Expanded services include virtual tenants, business plan competition, counseling, clinics, and an intern program.  Partners and sponsors have provided the Riverview Rotary research library and private sector donors contribute to services and operations.