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

AP News
Posted: Dec 21, 2009 11:49 AM

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.