State Approves $2.5 Million in Funding for Patuxent Business Park

PRINCE FREDERICK, Md., -- October 03, 2003 -- Supporting one of the largest development projects in Calvert County, Governor Robert L. Ehrlich, Jr. today announced approval of $2.5 million to the Maryland Economic Development Corporation (MEDCO) for development of the Patuxent Business Park in Calvert County. Located near the Patuxent River Naval Air Station and the Lusby Town Center, the 92-acre business campus will feature 650,000 square feet of Class A office and flex space.

"The Patuxent Business Park provides us with a tremendous opportunity to support economic development in Calvert County and also demonstrates our commitment to growing and expanding businesses, particularly technology businesses across the State," said Governor Ehrlich. "Calvert County is an exciting location for companies; one that offers businesses the resources and environment they need to grow, while at the same time providing an outstanding quality of life for its residents."

The $2.5 million investment from the State’s Maryland Economic Development Assistance Fund (MEDAF) will assist in the construction, site preparation and related project costs of a 22,000 square-foot Class A office building, the first building in the new business park. Occupants are expected to be predominately technology support and spin-off companies from the Patuxent River Naval River Station, generating approximately 2000 new jobs in the County. The Calvert County Economic Development Authority will provide an additional $250,000 investment toward the project.

"Patuxent Business Park remains one of our primary economic development goals. The park will create new employment opportunities for our citizens, will capitalize on other high-tech business expansion opportunities currently underway in the region, and will be the best comprehensively designed business campus in Southern Maryland," said David Hale, president, BOCC. "The Park not only demonstrates our commitment to economic development, but, more importantly, our ability to leverage assistance from the State of Maryland. The County is greatly appreciative of the support from the Maryland Department of Business and Economic Development and the Maryland Economic Development Corporation. This excellent working relationship continues to be a tremendous asset to both the County and State."

"The success of the Patuxent Business Park project demonstrates how partnerships between state and local governments are essential for the growth of economic development opportunities in Maryland," said Aris Melissaratos, Secretary of Business and Economic Development. "This project, which will provide much needed office and flex space to the community and support the area’s growing technology industries, will strongly support and enhance Calvert County’s economic development opportunities."

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