R2023-148 and Eexecuted SS Grant Contracts (2)

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4,1.4 Implement co-worlcing space and potential malcers space, Co-working spaces have moved from what some might consider a fad into a full-blown national trend with over 80% growth in available spaces during the past two years. According to the Commercial Real Estate Development Association repoft: Between 2005 and 2014 the number of co-working spaces has gone from 1 to 781. Deskrnag monitors co-worhing spaces nationally and cites that 60% of existing co-working spaces will expand in 2015, 4,5 new co-working spaces are created each day, and 245 people become members globally each day. Ellensburg has multiple opporhrnities to capitalize on this growth while building on partnerships within the Chamber of Commerce, with Central Washington University, and even with the creative comrnunity that thlives in Ellensburg and Kittitas County. Dcforc dclvirrg into the specifiu reuululcridaliuns, it is irnportant to begin to defltre how each of these spaces work, as semantics can sometimes get in the way of tnily understancling the purpose of these new models for thc workplace environment, lt is also important to know that, although their definitions are provided below, the fluidity within which they can function in a space is as creative as the very ideas themselves. Co-working spaces provide a place for individuals or small companies to work in a shared environment. Companies can interact with one another in informal ways, form collaborations, or simply share in the cteative atmosphere of the space. Co-working spaces may host events and activities, but rarely provide formal business coaching. Such spaces provide conferencing capabilities, shared printers, a kitchen, restrooms, and most importantiy high speed internei ilcces3. Incubator spaces are also places where businesses co-habitate as well. A key difference bctween co-wolking and incubator spaces is the level of support provided to grow businesses. These spaces frequently have a higher edncation partner that is helping to cultivate and coach businesses toward success. Many incubators have the desire to "graduate" businesses from the spacc. There is already an incubator space in Ellensburg, so this approach may not be thc most appropriate for downtown, although the trend is continuing to evolve into other kinds of incubators. Accelerator spaces provide a structured way to "graduate" companies, often within a specified period of time, Usr"rally, accelerator spaces receive significant support ftom venture capital that is directly investing in the start-ups. 'l'he goals of an accelerator is to "spin out" successful venftires. These spaces tend to gravitate around like businesses that have collaborative capabilities. Makerspaces are physical locations where people gather to share resourees and knowledge. Unlike the spaces described above, makerspaces focus on projects and fabrication. Consequentiy, makerspaces provide tools and facilities for the makers. While expeds or higher education- affiliated advisors might be available, makers frequently get help fi'om other users. These spaces began to be associated with fields such as engineering, fabrication, computer science, and graphic design. Many makerspaces have higher education partnerships who desire to create an 29