Story excerpt provided by the Canton Repository
Written by Malcom Hall
Rather than investing in an industrial park, city officials’ new economic development project is in an empty basement-level office suite.
Those involved with the initiative, known as the Alliance Startup Fund, say jobs spawned from the project will be in the software-development and technology field, and likely offer high-paying careers.
The location is under a Chase Bank branch in the 1200 block of W. State Street.
Three parties are partnering on the project:
- The city, which is providing deferred loans of up to $35,000 for each entrepreneur launching a software company through the program.
- Technology Accelerator Alliance (TAA), a high-technology business incubator program, which will mentor the entrepreneurs.
- JumpStart, a Cleveland-based nonprofit economic development group, which will help select which aspiring entrepreneurial projects are worth funding.
“Software today has been found to be very high-growth,” said Brad Myers, chief executive officer of TAA. “It is a mentor-driven program that we have put together. It is taking them through the business cycle.”
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