Second only to California's Silicon Valley in its concentration of biotechnology activity, Montgomery County's new parks will further solidify its position as a leading research industry designation and will attract more companies to its cache of over 200 of the state's 300 biotech firms. Speaking to GlobeSt.com, county spokesman Scott Sloat says, "Our eventual hope is we'll have some sort of activity at one or both of the sites by the end of 2004."

County and state organizations have committed $6 million to help get the projects started, but officials say it is too early to speculate on the millions that will go into getting the parks to full operational capacity. "At the Montgomery College site we haven't purchased the property yet, and we haven't picked a developer for the WSSC site," Sloat notes.

The Calverton park is expected to occupy 40 acres and will include a new educational training building, a county-operated business incubator, as well as space for private technology firms. At the 115-acre WSSC park, or the East County Center for Science and Technology, plans include educational facilities, a telecommuter center, leasable space for private firms and a daycare facility.

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.