Scranton chamber incubator welcomes new businesses [The Times-Tribune, Scranton, Pa.]
(Times-Tribune (Scranton, PA) Via Acquire Media NewsEdge) Sept. 28--For startup company O-EZ.com, being in the state-of-the-art facility TekRidge Center offers legitimacy and focus.
The company that sells integrated ordering technology to restaurants joined four other young companies at a celebration of the business incubator at the Jessup Small Business Park.
"If someone comes to see us, we are in an impressive building and a great work environment," said Joyce Piccolino, senior hospitality coordinator for the company.
The $8 million TekRidge opened in May and has attracted a bustling community of ambitious new companies that officials welcomed Friday.
The Scranton-Lackawanna Industrial Building Co., the development arm of the Greater Scranton Chamber of Commerce, held an open house at the sleek metal and glass building overlooking the Midvalley. New chamber President Robert Durkin, in his first major public appearance, addressed the 80 people gathered.
"I'm pleased to be here and take credit for the work of my predecessor, Austin Burke," he said to laughter.
As a technology incubator, the TekRidge Center offers flexible leases and communal amenities such as a conference room and office services. TekRidge is SLIBCo's second office incubator, joining the Scranton Enterprise Center on Lackawanna Avenue in Scranton.
SLIBCo incubators have "graduated" 19 businesses to the community, employing 150, Mr. Durkin said.
The TekRidge Center is situated within a Keystone Opportunity Expansion Zone offering tax benefits to occupants through 2020. Occupants get further benefits through the Keystone Innovation Zone program that provides tax credits to young for-profit companies in targeted industries.
Those tax benefits helped T.J. Finley decide to house his company, Med-Dev Corp., in TekRidge.
"Those tax benefits are a huge upside for any company, especially a startup," he said. Med-Dev is working to develop and market medical devices that combat the MRSA virus.
TekRidge still has small units available and SLIBCo is still looking for anchor tenants for its 30,775 square feet of space that could be subdivided into as many as eight units. The other five tenants occupy portions of the remaining 15,000 square feet.
Here's a look at the other tenants of TekRidge:
- Bedrock Technologies, an information technology consultancy offering software, marketing and financial services to a range of companies and organizations.
- IQ Product Design LLC, which develops and designs electronic sensors that detect and record changes in the environment ranging from temperature and humidity to radiation;
- Besta Cork, a winner of the Great Valley Technology Alliance business plan competition that manufactures and markets products such as stools and pottery made from recycled cork.
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