Phoenix Mayor Greg Stanton will commemorate the opening of The Department, a new collaborative workspace for emerging businesses and leaders, on Thursday, Jan. 14. at 11:30 a.m.

Entrepreneurs, small businesses, artists, investors and nonprofits can work within the space, and its commemoration will be held on the sixth floor of the Marketplace One building at 1 North 1st Street in Downtown Phoenix.

The Department is an initiative of Marketplace One, a private investment firm with headquarters in Downtown Phoenix since 2007. The collaborative work space offers three levels of membership catered to the needs of individuals and teams wanting to work there.

The completely renovated 16,000-square-foot space features furniture custom-designed and built in-house by Matthew Moore of Urban Plough Arts, and includes private offices, conference rooms, lounge areas, reserved desks, and flexible workspaces.

“The Department is a great addition to our growing innovation hub in Phoenix – a vibrant space where young companies and entrepreneurs can mix, grow, and collaborate in the heart of Downtown,” Stanton said. “An important part of building an innovation-based economy is putting bright, creative people together and letting their ideas collide.”

The Department is committed to helping foster a vibrant entrepreneur ecosystem downtown, said Bret Edson, Marketplace One chairman.

“Through this collaborative workspace, we believe we’re truly investing for impact in our city,” he said.