As reported in the Baltimore Sun, City officials praised the role of a business incubator, Emerging Technology Centers (ETC), in helping boost the city’s economic growth, pointing to a study that attributes nearly $174 million in direct economic activity in the city to the incubator’s current and recent tenants. As described,

Of the 76 companies that have graduated from the program, 48 remained in Baltimore, employing 311 people and generating $108.5 million in direct economic activity, as well as more than $153 million in spinoff effects, the survey estimated. . . .

“People want to be here,” [ETC President Deb] Tillett said. “That’s a testament to the entrepreneurial ecosystem that the city has helped us to create.”

According to the article, the nonprofit was started to support small businesses and received about $800,000 in city funding last year, about a third of its budget.

For more information, see the full story from the Sun.