The details
Currently, the business is located 1900 Firman Dr., Ste. 800, but will move into the Richardson Innovation Quarter, occupying about 25,000 square feet at 1703 N. Plano Road in the Cardinal Park development.
The company develops orthodontic innovations that allow their customers to improve efficiency and reduce stress for the practice and patients, the release said.
Per the agreement, KLOwen will sign a five-year lease and invest about $1.5 million in tenant improvements.
“This new space not only supports our growing team but also fuels our mission to drive innovation and create new opportunities,” KLOwen CEO Ryan Elmore said in the release. “By staying rooted in Richardson, we’re investing in a brighter future for both our company and the local economy.”
Why it matters
Richardson City Manager Don Magner said he is excited for the agreement because the company fits into the overall goal of the IQ. KLOwen is different than other companies the city has attracted, which helps develop a diverse economy, Magner said.
In addition, the company, which has about 50 employees, will add about 125 jobs to the area.
Quote of note
“The Richardson Innovation Quarter is known for fostering synergies among innovative tech companies, and we’re happy to see KLOwen’s recognition of its value,” Magner said in the release. “We are focused on supporting this area as one of the premier hubs for technological advancement in Texas, and this latest announcement reinforces The IQ as a place where businesses can locate, collaborate, and succeed.”
