nxtARROW, a newly developed not-for-profit company dedicated to revitalizing Buffalo by attracting and supporting startups and entrepreneurs, today announced its arrival in Western New York and its first clients from outside the region. Among its many offerings, nxtARROW will help generate business for local companies that provide services to entrepreneurs, eventually resulting in the creation of new jobs.
Through nxtARROW, local entrepreneurs in the Buffalo-Niagara region that are not capitalized, but have sufficient funds to start operations, or start-ups that are adequately funded and have interest in relocating to the region, can receive one year of free rent, and most other business services needed to begin operations.
"In its prime, the Buffalo-Niagara region was one of the leading industrial cities in the nation," said nxtARROW President and Chief Creative Officer John W. Howell (entry image). "Through nxtARROW, we strive to return the city back to its glory days by offering companies the resources they need to begin doing business in our area."
In addition to assisting local companies to further generate business, NxtARROW will also utilize the abundance of affordable office space, low cost of living and proximity to Canada to attract new business to the area.
"The cost of Class A office space in New York City and Washington DC ranges from about $55 to $66 per square foot. In Buffalo, that same space is more than half the cost at about $16 to $25 per square foot," added Howell. "If you couple that with the low cost of housing, which is about 10 percent of the cost of comparable housing in the most expensive US markets, selling the WNY-area as a viable option for successfully running a business presents a pretty attractive opportunity for our new and potential clients," added Howell.
nxtARROW currently has two clients that will relocate to the area during the first quarter of 2011. Work Smart eBusiness Solutions, a virtual office support company from Boston that is expanding into technology consulting and work system development to assist companies on updating their technology and systems; and Fineprintfinders LLC, of Flint, MI, is also working with nxtARROW. Fineprint develops software to help people interpret legal and financial fine print and typical consumer contracts.
"nxtArrow gave us the best opportunity to expand our business model, and provide the best quality product that will cater to the interests of the public," said Marcus D. Sharp CEO/Chairman of Fineprintfinders LLC. "Relocating to Western New York from Michigan suited our company's character and brand. Our staff represents a group of attentive, persistent, and dedicated individuals who view setbacks only as setups for success. We're thrilled to begin operations in Buffalo and look forward to serving the people of this great community."
nxtArrow provides free services for the first year of a multi-year agreement, thanks to partnerships with local companies, including DelVecchio & Stadler, Eric Mower and Associates, Noein, Inc., Buffalo Design Group, Identity Partners, SKM Group, Freed Maxick, Battaglia, Loans 4Biz/Cobblestone Group, L2K Design LLC, WorkSmart eBusiness Solutions, Zoom Copy, Visions Hotels, Citymade/Made in Buffalo and Buffalo Car Share.
Howell initially met with Buffalo-area business, civic and government leaders in the fall of 2008 to discuss his company's vision for the Buffalo-Niagara region. nxtARROW's client offices will be located primarily in Buffalo. Its corporate office is on the first floor of the Electric Tower in downtown Buffalo.
Said Michelle M. Nicholas, president and founder of WorkSmart eBusiness Solutions:
"Relocating the business operations of WorkSmart eBusiness Solutions to Western New York gave me the opportunity that most other entrepreneurial "incubator" programs are not offering - the opportunity to develop and expand a business model/concept that is focused on targeting the life sciences and technology markets. It will also give me the opportunity to work with other entrepreneurs through my ongoing collaboration with nxtArrow, at the end of which I hope to have achieved some part of my true potential and make a small but valuable contribution."
Looks like a great company.