Coworking Station is expanding to downtown Apex.
The Apex Town Council voted last week to help get the new location up and running. The town will spend about $118,000 to help pay the rent, utility bills and internet access for the first three years at the space at 121 N. Salem St.
In return, Coworking Station will be required to submit regular reports to the town about its client base and activities.
This will be the second location for Coworking Station. It already has a space in Holly Springs.
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At 2,300 square feet, the Apex space is roughly half the size of the Holly Springs space, though Coworking Station’s owners have indicated they might want to expand beyond that footprint after their three-year contract with Apex ends.
“This has been something I’ve wanted to see for two years,” Councilman Wes Moyer said. “It’s something I brought to the table, and I’m excited to see this come to fruition and to bring this to small business owners in Apex.”
The agreement is similar to one executed between Coworking Station and the Town of Holly Springs, which also helped pay for renovations when the company began offering space in the town’s old police station.
Coworking Station Apex will offer large offices for $700 per month and smaller ones for $400. Use of the open work areas will cost $200 monthly. Daily and weeklong passes will also be offered, as will a conference room that can be rented by the hour.
Town leaders hope the investment will draw and keep small businesses in town. But Mayor Lance Olive warned that he would only consider the investment worth taxpayer money if the businesses started at Coworking Station Apex also choose to stay in town once they outgrow that space.
“If I discover we’re incubating these businesses only to see them leave for Research Triangle Park or Raleigh, we have to ask why we’re supporting this,” Olive said.
Joanna Helms, Apex’s director of economic development, said Coworking Station is in the process of negotiating a lease with the building owner and that an opening date has not yet been set.
Gargan: 919-829-4807; @hgargan