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October 4, 1996
UMBC TECHNOLOGY CENTER GRAND OPENING SET FOR FRIDAY, NOVEMBER 8, 1 P.M.
Baltimore, MD, November 4, 1996—Assisted by a robotic hand at the ribbon-cutting ceremony, Governor Parris N. Glendening, UMBC President Freeman Hrabowski, Baltimore County Executive C.A. "Dutch" Ruppersberger, other state representatives, guests, and tenants of the UMBC Technology Center will officially dedicate the facility on Friday, November 8, at 1 p.m. The festivities also include a luncheon exhibition of tenants' work and self-guided tours.
"The UMBC Technology Center is another giant step towards reaching our goal of making Maryland the benchmark for national economic development, and a model of success in developing public-private partnerships," says Governor Glendening. "This facility will spawn the type of private sector economic development that is the key to our efforts to move Maryland forward into the 21st century."
Before consolidating its operations in 1995, the Lockheed-Martin Corporation operated the five-building, 30 acre research facility adjacent to Interstate 95, just five minutes from BWI Airport and 10 minutes from Baltimore city. The 170,000 square-foot facility includes a conference center, clean rooms and 50,000 square feet of wet-lab space, which is difficult to find in Maryland. Through efforts of the Maryland Department of Business & Economic Development, the Maryland Economic Development Corporation (MEDCO) and the General Assembly, the State reached an agreement to purchase the facility for $9.5 million, $5 million appropriated by the General Assembly. MEDCO then leased the facility to UMBC last spring.
Since opening in April, the UMBC Technology Center has created and/or retained 115 jobs (several Lockheed-Martin researchers stayed on to start their own companies). The center has also leased 80 percent of its laboratory space to 12 incubator and emerging technology companies. More importantly, the center has strengthened UMBC's progress in establishing a system of facilities to support high technology business development. This system includes:
"The UMBC Technology Center will allow us to expand our highly successful new business incubator program and encourage technology commercialization," says UMBC President Freeman Hrabowski. "The project complements UMBC's role in science and engineering research and will allow us to support the region and the State in economic development."
Other dedication ceremony participants will include Tom Quinn, president of LMC Properties, Ed Fry, president of PDA, Jo Ann Argersinger, provost of UMBC, Mark Behm, vice president for administrative affairs at UMBC, and Ellen Wiggins, executive director of the UMBC Research Park.
Posted by dwinds1 at October 4, 1996 12:00 AM