| BALTIMORE, MD Wed, Jul 11, 2007 The Board of Public Works today approved $1 million in funding for the development of the Mid-Shore Regional Business and Technology Park located in the Town of Ridgely in Caroline County. The business park is an integral part of Caroline County’s strategy for attracting technology companies that provide high wage jobs.
“Helping to bring economic development opportunities to Maryland’s rural counties is a key part of our vision for a One Maryland economy,” said Governor Martin O’Malley. “By providing Caroline County with the funding it needs to attract technology businesses, we are maximizing opportunities to bring well-paying jobs and prosperity to the working families of this region.”
“We are pleased that the Board of Public Works approved the funding for this very pivotal project,” said Charles C. Cawley, County Administrator for Caroline County. “This has truly been a cooperative effort between the federal Economic Development Administration, the State of Maryland, Caroline County and the Town of Ridgely and we look forward to continuing to work together to bring higher paying jobs to the county and to the region.”
The funding, through DBED’s Maryland Economic Development Assistance Fund (MEDAF), consists of a $1 million loan which will be used in conjunction with federal funds for infrastructure improvements, including water and sewer, to the site. The project also received $1.5 million in One Maryland funding that was used for land acquisition and development costs.
The Mid-Shore Regional Business and Technology Park will be constructed in multiple phases. Phase I will create office and retail/commercial space, a parking area and approximately 25 developed acres. The overall site layout has been designed to create a campus-like setting. The ultimate goal is to accommodate 500,000 square feet of office/commercial space. The Park is located approximately one half mile north of the Town of Ridgely, adjacent to the Ridgely Airport that is also being expanded as part of the plan to attract technology companies to the area.
|
