SOVA Tech Hub
The Tech Hub, which will provide makerspace for startups and tech ventures, is the vision of Mid-Atlantic Broadband President and CEO Tad Deriso. After MBC obtains enough equity from investors, the planned $3 million, 13,200-square-foot Tech Hub will be built next to the Innovation Hub, which is scheduled to open in December.
A prime downtown location, the building will be built in a federal Opportunity Zone and State Enterprise Zone, offering federal, state and local tax breaks for investors and various enterprise zone grants and rebates for companies leasing space in the Tech Hub.
“This is a great opportunity for small business development,” says Brian Brown, executive director of the Industrial Development Authority of Halifax County.
Startups at the Innovation Hub entering the maker phase can move directly into the Tech Hub, which is targeted for construction in spring 2021. Spaces in the Tech Hub can be leased on a monthly basis by new ventures that need a small-scale manufacturing space to produce products. The facility also will be available to outside startups.
Raab sees the synergy between the SOVA Innovation Hub and the SOVA Tech Hub as a draw for innovative companies. “If you want to have a startup, we will be the place to come,” he says. “We are sitting at the right place at the right time.”