SYRACUSE, N.Y. (WSYR-TV) — Le Moyne College is set to redevelop the Le Moyne Plaza on Salt Springs Road into a space for entrepreneurs from both the college community and the Central New York community as well.

The $2.45 million project will be helped by a grant of $485,000 from the New York State Regional Economic Development Council (REDC).

The school sees the space as an Entrepreneurial Plaza and Makerspace Lab being created at the Salt Springs Road plaza.

“Entrepreneurship is alive and well at Le Moyne College. We’ve just outgrown our current space and this will be our new home,” says Jim Joseph, Dean of the Madden School of Business and Special Assistant to the President at Le Moyne College.

The college is about to go into the design phase, with a goal of starting construction at the end of this year or early in 2021.

Joseph tells NewsChannel 9, “Entrepreneurship education teaches more than just starting a business. It teaches all the skills that make entrepreneurs successful and, quite frankly, make people successful in life.”

The space will contain both an incubator and an accelerator.

Joseph explains the incubator will be for anyone with a business idea who can be surrounded by mentors, marketers, accountants, and lawyers. He says the accelerator space will be for people who already have a business, but need to take it to the next level.

The workspace will not just be open to members of Le Moyne College, but anyone in the community.

“Le Moyne College is a Jesuit institution and the Jesuit institutions are all about having an impact on society,” Joseph says.

It will also include a mechanical room, virtual lab, woodshop, 3D printing lab, and shared workspaces. Both of these will be under the auspices of the College’s Keenan Center for Entrepreneurship, Innovation, and Creativity.

Kate Keenan is a ’81 grad of Le Moyne College. Her husband, Tim, is an ’81 grad of The Ohio State University.

In a speech at Le Moyne a few years ago, Tim explained this way the reason for the two centers. Both went to school in areas of the country hit particularly hard by the Great Recession and one of the key ways out is entrepreneurship. Entrepreneurship, they say, can create new companies, new wealth and therefore jobs.

The plaza is hoped to be ready around fall of 2021.

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