October 5, 2010

Loan to boost tech in Detroit

The Bank of Ann Arbor said Monday that it has agreed to loan TechTown the money needed to expand the business incubator\'s operations. Randal Charlton, TechTown\'s executive director, called the loan agreement \"the biggest single milestone\" in the incubator\'s 10-year history. \"It sends a signal to a lot of folks in economic development who have treated anything in Detroit as toxic,\" he said. The loan is guaranteed by Wayne State University, which purchased the TechTwo building. http://www.freep.com/article/20101005/BUSINESS06/10050371/1002/Business/Loan-to-boost-tech-in-Detroit http://wwj.cbslocal.com/2010/10/04/bank-of-ann-arbor-helps-finance-detroits-techtown/

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