Tag: Texas Research and Technology Foundation

VelocityTX Innovation Hub Receives City of San Antonio Incentives for Development
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VelocityTX Innovation Hub Receives City of San Antonio Incentives for Development

The San Antonio City Council approved a package of economic development incentives Thursday for the ambitious Texas Research and Technology Foundation (TRTF) project on San Antonio's Eastside. Robert McDermott founded TRTF in 1982 as an economic development nonprofit with an endowment fund for investing in early-stage companies. The $5.7 million incentive package is earmarked for the renovation of the empty complex of Merchants Ice and Cold Storage Company buildings on the 1300 block of East Houston Street, as well as for the construction of TRTF's new Velocity Center within the complex. The Velocity Center will house the new VelocityTX biomedical sciences innovation center.  The approved package included a $750,000 Chapter 380 agreement or economic development grant with the rest st...