Calvert County Approves Funding For Southern Maryland's First Business Incubator

PRINCE FREDERICK, Md., -- April 9, 2001 -- The Calvert County Board of County Commissioners (BOCC) recently approved funding today that will bring Southern Maryland’s first business incubator to Calvert County. A unanimous board decision provides $49,900 to the College of Southern Maryland (CSM) in start up operating costs for the incubator. Operations will commence on July 1, 2001.

Both CSM and Calvert County hope to recruit develop and graduate economically viable companies into the community. Day-to-day management will be provided by CSM. A technology and business start-up counselor will provide mentoring services, business plan development and review services, investor/financial advice, marketing advice, management team development, and new product assessments as needed.

Tenants will be charged a monthly rental fee based on square footage occupied, and at a rate significantly lower than the market rate lease in Prince Frederick. Additionally, separate fees will be assessed for Internet access, telephone service, copy and fax services, and miscellaneous office supply charges.

"Calvert County has been working to create an incubator for two years," said David Hale, president, BOCC. "The partnership with CSM is a win-win situation. It reduces the need for a significant capital investment while serving the needs of our business community. Further, the incubator will create a strong link between economic development and the development of a successful entrepreneurial community in Calvert County"

"The project’s success will be determined by our ability to recruit tenants with high growth potential," said Alan Kutz, vice president, Entrepreneur and Leadership Center, CSM. "The first six months will be used to solicit applicants from the community. Once tenants have been selected, a regular schedule of business and marketing plan review will be established with tenants to ensure that milestones are met and progress is made."

CSM and Calvert County will work to create entry and exit policies over the next two months. Following the creation of those policies, CSM and Calvert County will solicit applicants from the community. The business incubator will be housed at the Calvert County Telecommuting Center in Prince Frederick. CSM anticipates that the Telecommuting facility will be prepared to house its first tenant on July 1, 2001.

For more information please contact the Calvert County Department of Economic Development, 410-535-4583 or 800-331-9771, e-mail cced@co.cal.md.us or CSM, 301.934.7585, www.csmd.edu

For more information on the Calvert County, Maryland Department of Economic Development, our visitor sites and attractions and the services available to assist County businesses, call 410.535.4583, 800.331.9771 or 301.855.1880; or send an e-mail to info@ecalvert.com