March 28, 2005

New technology park lures firms

TechTown, the university's research and technology park, is the focus of this article. Writer Tom Henderson points out that TechTown is "a cornerstone of a new research and technology corridor in a long-neglected swath of the city between New Center and Wayne State University. TechOne the first building to open, already has attracted nine tenants, including three announced in March. Asterand, a biotech firm, has become the anchor tenant, with 60 employees occupying 13,000 square feet. TechTown invested $900,000 in lab and office equipment to attract Asterand. "We'll get a return our investment, not just in rent but in jobs created," says Howard Bell, TechTown executive director. He indicates that 40 percent of TechTown's space will be reserved for incubator companies in need of support services. A photo of Bell in the Asterand offices accompanies the story.

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