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City signs $1.4M deal to develop RFID jobs
Wednesday, September 26, 2007
DAYTON — The city of Dayton wants to become known internationally as a center in the radio frequency identification industry, an emerging technology used to track people, animals and objects.
The Dayton City Commission on Wednesday signed a $1.4 million development deal with CityWide Development Corp. The funds will be used as seed money over four years to create the Dayton RFID Incubator Corp., to be called DRIC.
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DRIC, a for-profit corporation, will function as an incubator for new and small businesses in the industry with the hope of building a sector-focused business cluster around it.
"This is an industry with such promise and is poised for such growth," City Manager Rashad Young said. "We have a real opportunity to bring companies here."
DRIC is expected to create 100 jobs with an average annual salary of $80,000 over three years. It will located in the Creative Technology Accelerator in Dayton's Tech Town business park.
Contact this reporter at (937) 225-2362 or josmith@DaytonDailyNews.com.
