Martinsville incubator tenants transition as partners plan a new small-business model

Martinsville's longtime small-business incubator is entering a transition that could reshape how startups and entrepreneurs get space and support in the city's uptown core.

In a July 15 joint-statement update reported by the Henry County Enterprise, the Martinsville-Henry County Chamber's Partnership for Economic Growth, the City of Martinsville and the Martinsville Economic Development Authority said tenants are moving out of the West Piedmont Business Development Center at 22 E. Church St. Many of the building's 18 tenants were on month-to-month leases and had already found new locations; C-PEG said it was still assisting four businesses searching for office space.

The partners said two local property owners are making designated space available without additional rent or utility costs for affected businesses. At the same time, they said they are working toward a new space and a new approach built around shared workspaces, technical assistance and other business resources. The change comes after the city cited financial challenges and the EDA's limited resources.

The economic-development question is what replaces the incubator's low-cost launchpad. The center has helped businesses and nonprofits get started, and the next model will matter to entrepreneurs who need affordable space, mentoring and connections before they can take on a conventional lease. Small businesses needing transition help can contact C-PEG through the Chamber's business resources page; officials and property owners can use the same channel to share available space or support services.

Source: Reporting based on the Henry County Enterprise report published July 15, 2026 and the City of Martinsville's business-resources page. The discussion of the replacement model's economic importance is analysis based on the partners' stated plans.