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Biotech Initiatives in Montgomery County, MD

Biotech Initiatives in Montgomery County, MD. A Special Presentation for the Biotechnology Industry Convention 2005 Douglas M. Duncan County Executive, Montgomery County, Maryland. Location. The Place To Be For Technology. Information Technology Aerospace Electronics Manufacturing

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Biotech Initiatives in Montgomery County, MD

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  1. Biotech Initiatives in Montgomery County, MD A Special Presentation for the Biotechnology Industry Convention 2005 Douglas M. Duncan County Executive, Montgomery County, Maryland

  2. Location Montgomery County Department of Economic Development

  3. Montgomery County Department of Economic Development

  4. The Place To Be For Technology • Information Technology • Aerospace • Electronics Manufacturing • Telecommunications • Instrument and Related Product Manufacturing • Biotechnology Montgomery County Department of Economic Development

  5. Highly Educated and Skilled Workforce • Region ranks highest in number of Ph.Ds • 35% of the adult population have graduate or professional degrees- highest percentage in U.S.A. • 67% of the adult population have a bachelor’s degree • Approx. 15,000 private bio-tech jobs • Approx. 67,600 private high-tech jobs Montgomery County Department of Economic Development

  6. Universities & Colleges Johns Hopkins University • Universityof Maryland • Montgomery College • Columbia Union College Montgomery County Department of Economic Development

  7. The Nation’s First R& D Park for Biotech The Shady Grove Life Sciences Center Montgomery County Department of Economic Development

  8. New Strategic Public/Private Projects • East County Science and Technology Park (115 acres hitech, education, incubation) next to new FDA headquarters • Science and Technology Park in Germantown in collaboration with Montgomery College. Montgomery County Department of Economic Development

  9. East County Center for Science and Technology Montgomery County Department of Economic Development

  10. East County Center for Science and Technology continued • Modeled after the world-renowned Shady Grove Life Sciences Center located in Rockville along the I-270 Corridor. • Public/private partnership between Montgomery County, the Washington Suburban Sanitary Commission (WSSC), and Republic Properties Corporation. • Adjacent to new FDA Campus & future, private 185-acre mixed-use development project • 115-acre campus will feature 800K square feet of development Montgomery County Department of Economic Development

  11. Montgomery College- Germantown Science and Technology Park • Located on “DNA Alley”- the I-270 corridor • Up to 1 million square feet of development • Will feature build to suit facilities; business incubator; joint college/private sector labs and research buildings Montgomery County Department of Economic Development

  12. Incubators – 7 Now and in the Future • Maryland Technology Development Center • Silver Spring Innovation Center • 3 Planned – White Oak, Germantown, Small Business Incubator • Two additional – all by 2007 Montgomery County Department of Economic Development

  13. Incubator Success Story • 555 high tech start ups annually in Montgomery County • 16% of high tech businesses in County are start ups • SBA – 4 of 5 start ups fail; 80% incubator graduates succeed! • 30 companies graduated from Mont. Co. incubators – 100% stayed in County to expand; only 84% stay local on national level • Graduates employ 1,000 people and lease 330,000 square feet with $1.3M in annual economic impact Montgomery County Department of Economic Development

  14. Financial Programs/Business Assistance • Economic Development Fund • Technology Growth Fund • New Jobs Creation Tax Credit • International Programs • Montgomery Works Training/ • Hiring Programs Montgomery County Department of Economic Development

  15. For more information on how to partner with or locate in Montgomery Visit Booth 127 or contact: the Montgomery County Department of Economic Development 101 Monroe Street, 15th Floor Rockville, MD 20850 240-777-2000

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