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Domi Station Creates $100 Million in Local Economic Impact According to CEFA Study

12/04/2020

A report produced by the Center for Economic Forecasting & Analysis (CEFA) at Florida State University shows business incubator’s impact since 2015

Tallahassee, FL—Domi Station, a non-profit business incubator, accelerator, and coworking office space has contributed significantly to the greater Leon County area economy since it first opened its doors in a converted railroad building across from the Tallahassee rail station in 2014. The combined economic outputs of Domi Station and the companies incubated there exceeds $100 million dollars according to the Economic Impact Analysis Report on Domi Station completed by Dr. Julie Harrington, Ph.D., Director of the Center for Economic Forecasting & Analysis at Florida State University.

The report details the direct, measurable economic output associated with Domi Station’s assistance with startups and small businesses looking to scale growth through a variety of programs, mentorship, events, and office infrastructure. Since its launch in 2014, Domi Station has served over 180 startups and 223 entrepreneurs who have attracted $18.3 million dollars in investment. The Impact Analysis found a total economic output of $109.5 million, with 942 jobs and $39.4 million dollars in wages generated by Domi Station and companies incubated there.

 “Leon County is proud to support Domi Station and its incubation of start-ups, which spur economic development and capitalize on local talent to create more jobs,” said Leon County Commission Chairman, Rick Minor. “Domi Station’s economic impact has been remarkable, and it’s a testament to businesses, government, and nonprofits working together to drive real progress.”

“Since 2014, Domi has cultivated businesses in tech, retail, manufacturing, and more, with graduates like DivvyUp, RMS/HWind, and Vale Foods,” said OEV Director, Cristina Paredes. “We’re committed to fostering the growth of our local entrepreneurs right here in Tallahassee-Leon County and thrilled to see measurable impacts of Domi and look forward to cultivating future incubator graduates.”

“It’s been incredible to see Domi’s growth and contributions to our community’s entrepreneurial ecosystem,” said Domi Station’s Executive Director, Bill Lickson. “The greater Tallahassee area is now being recognized as a great place to start and grow businesses. Domi Station has been a catalyst for helping create this positive momentum for our economy and community,” added Lickson.

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