Baltimore, Maryland (PRWEB) April 26, 2013
ETC, Baltimore City’s technology innovation center, announced today that it has chosen a new Baltimore City location to house its award winning technology incubator when its current Canton lease expires in October 2013. The ETC will move to 101 N. Haven Street, an adaptive reuse of an historic industrial building that was once home to the King Cork and Seal Company. The recently renovated building is located near Highlandtown with easy access to I-95 and is within the Enterprise Zone and a HUBZone. The ETC will maintain space in its other location at Johns Hopkins University - Eastern Campus on 33rd Street.
“The Emerging Technology Center has championed small business development and job creation in Baltimore for years, and we are proud to have supported their efforts,” said Baltimore Mayor Stephanie Rawlings-Blake. “We wish them the best of luck and success in their new location. I’m confident that the ETC will continue to be an important driver of innovation and entrepreneurship in the city.”
Deb Tillett, President of the ETC said, “ETC moved to Canton in 1999 in an effort to spur growth in this part of the City, and it is time to say job well done and do it again. The move to Haven Street allows us to make room in Canton for some of our key graduate companies and it is the right thing to do because ETC’s job is to help companies grow and part of that is to provide great programs and great space at a great price.”
ETC’s new space, at 101 North Haven Street, is east of Canton, located near Highlandtown’s Main Streets and Arts & Entertainment districts. ETC’s decision to relocate to another City neighborhood in the midst of active revitalization and redevelopment is in keeping with the entrepreneurial spirit of “building something from nothing.”
“Highlandtown is being “reinvented” by a new generation of residents from all over the globe,” says Chris Ryer, Director of Southeast Community Development Corporation. “Its youth, and diversity will be a great fit with the ETC.”
The Haven Street location will house 31 resident start-up companies, while serving as a “hub” for ETC’s growing portfolio of virtual companies. It will have all the features and amenities that today’s early-stage entrepreneurial community has come to expect. Several ETC graduates have also signed leases for commercial space at Haven Street.
Over its 14-year history, the ETC has gone from a first-mover and sole supplier of technology entrepreneur-based services in the Baltimore marketplace to one of many providers of services to innovators and entrepreneurs. ETC has won critical acclaim for its “best practices” in services rendered and graduate successes and has helped spur the technology and innovation growth within the City of Baltimore. The relocation is part of the ETC’s strategic effort to increase funding for services, resources and programming to serve the current and future needs of the entrepreneurial community, while still providing low cost office space for growing companies.
Since its inception in 1999, 284 companies have been assisted; 85% are still in business. All ETC graduate companies remain in Maryland and 56% stayed in Baltimore City. Over 2,000 jobs have been created at an average salary of $84,000, with over $1.5 billion in outside investment raised by ETC companies.
About the ETC: (http://www.etcbaltimore.com )
ETC is a venture of Baltimore Development Corporation. It is a non-profit business incubator with two separate facilities. The ETC focuses on growing early-stage technology, biotechnology, and innovation companies in Baltimore City. More than an opportunity for the growth of individual companies, the ETC provides an environment in which like-minded companies can accelerate their potential through partnerships, joint ventures, and other collaborations. It is estimated that ETC companies have created in excess of $375.8 million in economic activity for the City of Baltimore.