The words "Durham" and "innovation" have been inextricably linked for more than two hundred years. With yesterday's announcement of American Underground at the American Tobacco Campus, Durham expands its role as a place for start-ups and entrepreneurialism. Durham is already the number one Metropolitan Statistical Area (MSA) for percentage of workforce in the creative class, into which many of these companies fall, and is already home to another business incubator, Bull City Forward, and entrepreneurial advocates like SJF Advisors. Bull City Forward's goal is to assist social entrepreneurs in getting their ideas off the ground, and SJF helps with funding and other aspects of development.
The Council for Entrepreneurial Development, Launch Box Digital, and Joystick Labs are the initial tenants of the shared space environment of 26,000 square feet of previously unused space at the American Tobacco Campus, which includes private offices, a 60-person classroom, and even an arcade.
Start-ups that are accepted to receive guidance at American Underground will come to Durham for up to 10 weeks at a time from around the country.
As home to the undisputed tech hub of the Southeast, Durham's Research Triangle Park is a hot spot for these positions. Openings for IT jobs in NC jumped 12.8% in June and are nearly triple what they were a year ago. The arrival of American Underground further solidifies Durham's position now and into the future as entrepreneurs are further enticed to this nexus of creative and diverse energy and a fast-emerging destination for start ups.
The American Underground is scheduled to open October 1, 2010.
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