The city of Davis announced Thursday that the Davis City Council will grant a loan of up to $100,000 to local business incubator Inventopia to allow it to add specialized space needed by local entrepreneurs and startup companies.
The council voted unanimously at its Oct. 6 meeting to approve a resolution granting the loan and conducted a public hearing at its Nov. 17 meeting for final approval of the resolution.
“Supporting Inventopia and the businesses it houses enables the Davis business environment to expand economic development and capitalize on local talent to create more Davis jobs,” said Mayor Gloria Partida. “We are pleased to contribute to Davis as a burgeoning research hotspot in the life sciences, food and agriculture, sustainability and advanced manufacturing.”
The loan funding comes from community-wide City Enhancement Funds from various development projects. The…
