The acrostic REACT stands for Recruiting Entrepreneurs to Assist Communities to Thrive. REACT Arcadia Valley as a division of Luke 16 Corp, has access to grant opportunities available to 501(c)3 organizations. The purpose of Luke 16 is help rural communities to go beyond striving to thriving. To this end, Luke 16 plans expansion into helping develop housing to enhance the desirability of becoming a resident of the area.
REACT is focused on developing entrepreneurs, mainly residents of Iron County. Traditional small business incubators limit the type of tenants they accept. This has been done in the past with the expectation that businesses will be ready to move into different quarters within eighteen to twenty-four months. This usually means that retail and restaurant operations are not allowed. In practice, many incubators end up going out of business themselves or become landlords for businesses that like the subsidized rent aspect.
In these situations, no mentoring is offered to the tenants. REACT offers either scenario. Businesses can remain as long as they are appropriate for the setting and keep their businesses profitable. If more space is required, provision will be made to acquire other locations in order to provide a virtual incubator arrangement. In such cases, the location doesn’t have to be in the main facility.
REACT Arcadia Valley is a division of Luke 16 Corp. which was founded in December 2015.. In March 2017, Internal Revenue Service designated Luke 16 to be a 501(c)3 organization. The board is comprised of a mix of local and out-of-town members. There are entrepreneurs and those who have worked with mission activities. A manager will be added to oversee operations at its primary location: 106 North Main St., Ironton, MO 63650.
Why does R.E.A.C.T. do this?