The 61,000 square foot facility will be the new home for the Los Angeles Cleantech Incubator and the state-of-the-art Los Angeles Department of Water and Power Energy Efficiency Technology and Customer Engagement Center. The facility will be a key resource for training tomorrow’s workforce on the tools, equipment and technology necessary for a green economy.
Cleantech entrepreneurs will soon have a new place to set up shop when the $47.5 million La Kretz Innovation Campus opens in downtown Los Angeles. Currently under construction on 3.2 acres of land owned by the Los Angeles Department of Water and Power (LADWP). La Kretz will serve as a space where entrepreneurs, engineers, green technology advocates and policymakers can share resources and help cleantech businesses thrive.
January 29, 2015
Project Funding Sign located on the corner of on South Hewitt Streen & East 5th Street. Project Financing from LADWP - Los Angeles Department of Water and Power, Union Bank,Urban Park CDE, LLC, Los Angeles Development Fund, Consortium America, Clearinghouse CDFI
The La Kretz Innovation Campus, a green tech incubator will feature and house science-focused offices, classroom space, conference rooms, event space, laboratories, a workshop for manufacturing prototypes. The property will also include a new community park and a parking lot with a photovoltaic solar canopy.
The campus will serve as the first big accomplishment for the Cleantech Corridor, an aspiring district of alternative energy and clean transportation companies set up along the river.
- There will be a public park at the corner of 5th and Hewitt.
- LACI will be a permanent home to 20-25 companies.
- LACI will have wet and dry labs for portfolio companies.
- There is a Conference room, work force training, and fast pitch competitions areas.
- University Partner R & D Facilities.
- LACI will also have a "landing pad" for international start-ups, space for advisors, mentors, and industry partners.
- LADWP Research & Development demonstration labs
The La Kretz campus will anchor Los Angeles’ Cleantech Corridor, a 4-mile strip along the Los Angeles River that the city hopes will transform from a blighted industrial neighborhood into a thriving green business district. Once completed, the La Kretz project is expected to create 600 direct jobs and 1,080 indirect jobs, which would generate about $45 million in annual salaries.
There are currently 26 companies at the current LA Cleantech Incubator and the new location will be able to accommodate over 100 startups.