TechTown, Wayne State University's business incubator and research park, continues to play an important role in Detroit's economic revitalization, according to a new report issued by the organization this month. The "impact report" highlights milestone achievements in entrepreneurship and economic activity between 2007 and 2011 in and around the City of Detroit.
TechTown currently supports 250 companies in industries ranging from the life sciences and advanced manufacturing to the arts and alternative energy through its 100,000 square-foot facility.
Active and graduate clients generated a combined total of $52 million in revenue in 2011 and $41 million in revenue in 2010. Since 2007, TechTown has provided support to 647 companies, which have created 1,085 jobs. And TechTown has invested $790,000 directly into client companies through the TechTown Loan Fund and its Thrive One Fund for minority- and women-owned businesses.
Read the full results of the report here.