The Magnetic Capital of the World
Attractive Location for Magnet-Focused Companies
MagCorp is among the latest companies to spring up from the magnet technology business ecosystem emerging in Tallahassee. Co-founders Lezlee Richerson, Jeff Whalen, and Abby Queale are well-known in the field of magnetics; they have all lived and worked in Tallahassee for over a decade and as such recognized an unmet need: the ability to bring together industry, government, and science to bring magnet technologies to market in a way that is effective, collaborative, and understandable to all parties.
“If you make software, of course you’ll want to be in Silicon Valley,” says Whalen, who is also the STEM Entrepreneur in Residence at the Florida State University Jim Moran College of Entrepreneurship. “If you’re in finance, you’re probably in New York. Medical technology? The Research Triangle in Raleigh/Durham. And magnet technology? Of course you need to be in Tallahassee.”
MagCorp is a technology development concierge for companies that use or could use today’s magnetic technology in their products, a onestop shop strategically located to help companies leverage the science being done in Tallahassee. “These technologies are quite sophisticated, and there are a lot of people who need experts in magnetism but don’t necessarily speak the language of the scientists,” explains Richerson. “MagCorp fills that middle gap. We can relate to both business people and scientists and quickly put the pieces together to solve our clients’ problems in a smooth and painless process for everyone.”
MagCorp helps clients manage the often expensive risks of developing their magnetic technology into smaller, more affordable pieces, ensuring that technology is sound and prototypes work before engaging in bigger commitments like full production. The company’s current clients come from myriad fields including biotechnology, health care, 3D printing, security, and more. “There’s so much more here than the world-class research that’s being done,” Queale says. “There is great growth potential for our community and local businesses because of the vibrant entrepreneurial culture and focus on magnet technology that is only found in Tallahassee. We see MagCorp as a conduit, a curator of innovation that’s located right here in Tallahassee to help companies all around the world with a magnetically enabled product or service to figure out how to develop and implement their magnet science. Our clients really like our business model because it lowers risk and provides product solutions at the speed that they need.”