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 2 cents, or 10 percent, to 18 cents in morning trading Monday. Shares have traded in a 52-week range of 7 to 75 cents.