Perry County Catalyst draws inspiration from Cape's example

Perry County, Missouri, took a page from the playbook of its neighbor to the south and launched a small business incubator/co-working space of its own this spring called the Catalyst Center for Business.

The 5,000-square-foot center at 508 N. Main St. in Perryville, is owned by the Buchheit family.

The idea for the incubator came from an extended conversation between Buchheit's CEO, Tim Buchheit, and Scott Sattler, executive director of the Perry County Economic Development Authority.

"One evening, we were talking about how to utilize the front of the (Buchheit) building," Sattler said, "and I pitched the example of Codefi in Cape."

Cape Girardeau's Codefi, 338 Broadway in the Marquette Tower, launched in 2016.

The Perry County Heritage Tourism gift shop, housed at the Perry County Catalyst for Business, is seen July 6 in Perryville.Jeff Long

According to Codefi's website, "startup entrepreneurs" are provided "tech-powered, flexible enterprise space."

Codefi, four years after inception, boasts 50 startups, creating 180 jobs and attracting $20 million in "equity investments," the website states.

Sattler said he and Buchheit visited Codefi and the two men were soon convinced they could create a similar opportunity in Perryville.

"Codefi has been a big inspiration for us," said Sattler, who took his current job nine years ago.

"Codefi concentrated on tech, but we don't have that here in Perry County," he said. "We're more of a co-working space."

The Perry County Catalyst for Business, seen July 6, reopened May 4 at 508 N. Main St. in Perryville, Missouri.Jeff Long

Sattler said small businesses are trending away from bricks-and-mortar locations that require their owners to pay taxes and all utilities, plus the ongoing costs of building maintenance.

"Catalyst eliminates overhead, and that's our niche," Sattler said. "We provide a professional space for you and your business."

Sattler said Catalyst is able to lease a 77-square-foot office for $500 per month and a 100-square-foot space for $650 a month.

"We also have what we call 'capsules,' where a business can rent office space by the hour," he added, noting the capsule option is attractive for a Zoom meeting or in-person meetings with clients.

"Meetings that might have taken place in a fast-food restaurant now can happen in a professional space with full access to Wi-Fi, a conference room, an event center and a full kitchen," Sattler said.

The Perryville business center already has two tenants and two memberships.

One of Catalyst's tenants is a locally based recruiter for Colaberry Inc., a Boston firm that does immigration work.

"Our goal is four tenants and 10 monthly memberships," he said, "and we were well on our way to (those numbers) when COVID hit."

Catalyst opened March 12 but was shutdown four days later by the pandemic.

"We had some momentum but we lost it," said Sattler, who said Perry County Economic Development Authority advertises the availability of Catalyst largely through its Facebook page and by hosting Perry County Chamber of Commerce events.

"We've also got a fully-equipped space for groups," he said, adding River Hills Tractor Club already holds its meetings at Catalyst.

ADK, a retired women's teachers association, will soon use the center for its gatherings.

Perry County Heritage Tourism also has a permanent gift shop in the building.

The business center was back in operation May 4, the same day Gov. Mike Parson announced the state's Phase I reopening.

The building housing the center, down the street from Perryville's town square, has had a multitude of uses over the years: a machine shop, a hardware store and a car dealership.

Most recently, Klaus Construction used it for storage and repair. The Buchheit family bought the building from Klaus. Perry County Economic Development Authority has a 10-year lease with the Buchheits. The family is planning to use the rear of the building for its American Tractor Museum, which is scheduled to hold its grand opening Aug. 8.