EL PASO, TX – The city of El Paso will open a new Innovation Factory, with the intention of growing innovative technology development by providing options for collaboration space for entrepreneurs from different fields.
According to the City Council, the ribbon-cutting ceremony is scheduled for July 19 at a facility located at 501 George Perry, Suite F.
“We are proud to celebrate the opening of the ELP Innovation Factory. This facility will provide the collaborative space that small businesses need for aerospace and advanced manufacturing research and development that will give El Paso a distinct advantage in this developing industry and in attracting high-paying jobs,” said Mayor Oscar Leeser.
The 30,000-square-foot facility will be dedicated to growing innovative technology development by providing co-working space options to companies, primarily in the aerospace, defense and advanced manufacturing sectors.
Located on the grounds of El Paso International Airport, the Innovation Factory will feature offices, maker spaces, shared lounges and other support facilities.
The first tenants received the first three years of free rent, thanks to a US$3 million grant from the American Rescue Plan Act (ARPA). The funding includes a local match of US$1.5 million.
Rent-free provides these companies with access to the capital they need to succeed. The selection of the companies was based on strict criteria, with companies highlighted in the local defense or aerospace sectors for their potential to have a significant impact on expanding manufacturing capacity in El Paso.
“Supporting businesses is a priority for the City of El Paso because we are committed to having a vibrant regional economy. This unique collaborative space, made possible through partnerships, will retain and grow jobs, strengthen our supply chain and has the potential to provide more opportunities for El Pasoans,” said interim city manager Cary Westin.
The opening of the factory represents an important milestone in the city’s commitment to fostering innovation and economic growth. In partnership with the University of Texas at El Paso (UTEP), the city is developing an innovation district.
The district will provide more than 250 acres of industrial land northeast of the airport terminal and runways, supporting an innovative complex for aerospace defense and advanced manufacturing industries.
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