Retail Incubator Set for Frederick, Md.

A retail incubator will soon hatch in downtown Frederick, Md. The idea is to create a place for fledgling store concepts to test and grow their businesses in a supportive, lower-cost/lower-risk environment, the project’s participants said in a news release.

The incubator will be located at a historic structure at 22 S. Market St. that’s known locally as the Federated Charities building. With 350 square feet of space, the incubator will host three participants at a time for up to 12 months, providing access to affordable retail space, shared operations, mentorship and hands-on business training.

The project will be managed by the Downtown Frederick Partnership in collaboration with SOUL Street, a collective of local Black business owners and community leaders. Other participants include Frederick County’s Office of Economic Development, the city of Frederick’s Department of Economic Development, and a foundation run by Truist Bank.

The Truist grant for the project totaled $100,000, The Frederick News-Post reported in its coverage of the incubator. Rob Tuggle, a SVP for Truist’s Maryland region, told the newspaper the grant is a chance to invest back into the community. “This is how strong local economies are built,” Tuggle said.

The incubator plans to take the first applicants to use this space this coming spring.

“This incubator advances a key goal set by the Partnership’s Business Development Committee – to cultivate new retail entrepreneurs from idea to implementation while diversifying ownership and offerings downtown,” said Kara Norman, the partnership’s Executive Director. “It fills a critical need for affordable, accessible pathways into brick-and-mortar retail, particularly for entrepreneurs who have historically been underrepresented in the downtown business community.”