Maryland and the I-270 Tech Corridor
|Maryland and the I-270 Tech Corridor|
When MedImmune went looking for a site for its second manufacturing plant, it stayed home. Or close to home. The biotech decided to build an office/lab/manufacturing complex in Frederick, MD, right next to its existing plant. That I-270 tech corridor has become a hot property in the biotech world, drawing in a big vaccine plants from BioPort and Nabi Biopharmaceuticals as well.
University of Maryland Baltimore's new $200 million BioPark has inked its first big tenant, while East Baltimore Biotechnology Park, located next to Johns Hopkins University's medical campus, hopes to tap in on the industry's expansion as well.
Biotech firms benefit from from Maryland's world-class medical research institutions. University of Maryland Balitmore's new $200 million BioPark has already inked its first big tenant.
Of course, biotechnology development doesn't happen in a vacuum, as Maryland officials know. So in addition to grants, tax credits, early stage backing from the state's venture fund and help from TEDCO, the region's economic development department also helps to set up relationships with big federal agencies like NIH and the FDA. A statewide consortium of universities provides further help on the training side.
The state legislature has yet to get on the stem cell bandwagon, but recent polls showing solid support for fostering that work in Maryland may help push lawmakers in that direction.