testProjected growth in HD Radio receiver sales have spurred Ibiquity Digital to move to larger digs in the Detroit area.
The Oakland Business Review in Michigan reports that Ibiquity has moved from Pontiac, where it had been for five years, to a 5,000-square-foot space in nearby Auburn Hills.
In 2000, Ibiquity had no one in Detroit, according to Company Vice President of OEM Business Development Jeff McGannon.
“We started with a small staff of three people, and now we’re up to nine,” he told the paper.
The technology developer expects to add a couple more people to the Detroit office this year, possibly three to five people the next, the paper reported.
Hoovers Inc., a company that tracks businesses for clients, estimated 2007 sales for Ibiquity at $9.3 million.
“This company could be huge,” said Matt Osiecki of real estate company CB Richard Ellis told the Oakland Business Review; CB represented Ibiquity in its lease.
“They’re not necessarily auto-related so they’re not as affected by the local economy as much. They don’t manufacture here — it’s service-based. And everything is going HD so this company is going to grow.”