The city's technology incubator announced Friday that it chose new digs at 101 N. Haven St., a former King Cork and Seal Co. facility. The recently renovated building boasts easy access to I-95 and is within the Enterprise Zone and a HUBZone.
"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," said Deb Tillett, the center's president, in a statement.
The decision to relocate to another neighborhood in the midst of revitalization is in keeping with the entrepreneurial spirit of "building something from nothing," Tillett said.
At the Haven Street location, the center will host 31 resident start-up companies, while serving as a hub for a growing number of virtual companies.
Since the center's inception in 1999, 284 companies have been assisted and 85 percent are still in business. All of them remain in Maryland and more than half stayed in the city. Those companies have created more than 2,000 jobs with an average salary of $84,000.