Currently home to 50 businesses (35 on-site and 15 virtual tenants), the incubator has netted exceptional economic development results during the last three years.
Located in a city hungry for jobs, these businesses provide more than 155 well-paying positions, producing a combined payroll of $6 million.
The average annual wage of an employee in the incubator is $38,000, well above Camden's median household income of $24,612.
When adjusted for the value added by the services provided by the incubator, the average wage of an employee of an incubator company rises to almost $49,000.
These are jobs that otherwise might not have come to Camden.
The incubator companies also have generated almost $6 million in mostly private-sector investment. Four companies have graduated from the incubator setting and are now outside Camden but still in the Philadelphia region, where they pay taxes, purchase goods and services, and contribute to the economy.
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