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Need money to equip your biotech firm's new wet lab? This Md. county wants to help.

Byline: Associated Press

A new program in Montgomery County aims to help small biotech companies pay for laboratory space in the county.

The Montgomery County Economic Development Corp.'s new Bio Lab Pilot project will provide $10 per square foot of wet lab fit-out costs, up to $30,000, to cmpanies that agree to be headquartered in Montgomery County for three years and lease 5,000 square feet or less of wet lab space.

MCEDC willpay forthe pilot project with $250,000 from its budget, which includes $50,000 in funding from the Maryland Department of Commerce.

Developers and building owners are ineligible for the program. Applicants must demonstrate a funding gap that prevents the company from finishing its new lab fit-out.

To apply, visithttps://thinkmoco.com/bio-lab-pilot-project.

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Publication:Daily Record (Baltimore, MD)
Date:May 14, 2019
Words:136
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