Birmingham , Alabama 's Innovation Depot builds on big economic impact
Innovation Depot has expansion plans
Innovation Depot, the downtown Birmingham business incubator that's home to a growing roster of high-tech and life sciences firms, continued to pump money into the city's economy last year, with a sales and earnings impact that topped $340 million.
In addition, the facility's latest year-end report shows that sales, grants and investment dollars tied to its companies, as well as graduates that have been on their own for less than five years, totaled $141 million in 2008, according to new estimates.
"We're extremely pleased with the growth of the companies...we're just excited about where some of these companies are," said Susan Matlock, chief executive and president of Innovation Depot.
Housed in the former Sears building on First Avenue North, Innovation Depot counts 55 companies among its clients, including those working in the fields of information technology, biotech/life sciences, engineering technology and general business.
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