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Telkonet to move Maryland HQ, 50 jobs, to Wis.

Mon, 12/21/2009 - 3:00pm
The Associated Press

Telkonet Inc. is moving its Maryland headquarters and 50 jobs to Wisconsin, a move the energy-management company says will help cut costs.

The company said in a statement Monday it's moving about 50 jobs from Germantown, Md. to its satellite office in Milwaukee by next year.

Telkonet president and chief executive Jason Tienor (TEE'-ner) says the move brings the company closer to its strong Wisconsin customer base.

Tienor says the company received $300,000 from the Wisconsin Department of Commerce to assist in relocation.

Telkonet makes products that help improve buildings' energy efficiency.

Shares of Telkonet dipped 3 cents, or 15 percent, to close Monday at 17 cents. Shares have traded in a 52-week range of 7 to 75 cents.

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On the Net:

Telkonet: http://www.telkonet.com/

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