HUDSON: TecHudson will receive funding from the city after receiving grant approval from City Council during Wednesday’s meeting.
The business incubator will receive $50,000 in funding from the city to operate for 2013, with the possibility of $25,000 in additional funding if matching grants are received.
Council approved the grant agreement with TecHudson by a vote of four to two. William Wooldredge was absent.
Council member Alex Kelemen voted against the measure, citing the fact that "we don't require any of these companies [located in the business incubator] to stay in Hudson."
J. Dan Williams also voted against the measure, stating that TecHudson is "not a good investment." He estimated that it would require "$20 million in taxable income" to justify the investment and he just "doesn't think it will be that successful."
Hamilton DeSaussure said that although he originally voted against funding the business incubator, he agreed with Dennis Hanink that it "would be unfair to kick the stool out from under current management."
Both DeSaussure and Hanink felt that the business incubator was owed additional time and funding to let them attempt to achieve financial independence.