The Cultural Center of Metaxourgio Etmektzoglou was founded in the refugee settlement of Nea Ionia Volos, in the place where the father of the Asia Minor refugees George and Athanasios Etmectzoglou originally had a silk mill and a silkfarm.

Ιn 1924 the family bought a plot of land in the "Karagiannis field", and managed to build a small cocoon shelter on the northwest bank of Krausidon river. The factory was renowned in its time for the quality of silk that helped the company to grow and become the most important industrial unit on the margins of the settlement.

During the earthquakes of 1955, the building of the main factory was severely damaged and its operation stopped. Today the renovated building of the old factory belongs to the Municipality of Nea Ionia and operates as a cultural center as well as a Museum of Silk, in which visitors can see equipment such as sorting, reeling and spinning machines, as well as an array of looms.