Provides gap funds to build new “Innovations Crossroads Incubator”

March 26, 2013 – Cambridge Maryland — Dorchester County Council President Jay L. Newcomb today issued a statement applauding Maryland Governor Martin O’Malley and the Board of Public Works (BPW) for approving $1.2 million funding by the Maryland Department of Business and Economic Development for construction of Innovation Crossroads, the Eastern Shore’s first, full-service incubator and anchor tenant of the new Regional Technology Park. The funds were approved at last week’s March 20 BPW meeting in a unanimous vote.

“On behalf of my fellow council county residents and our business community, I applaud Governor O’Malley, the Board of Public Works and DBED for joining Dorchester County in developing a 21st century economy to create jobs for today, and jobs for tomorrow, by investing in Innovation Crossroads. Their actions validate the years of planning and preparation our community has devoted to this critical initiative and paves the way for entrepreneurs here – and throughout the region – to realize their business dreams in Dorchester.”

Originally proposed in 2007 following a comprehensive study of the needs and opportunities for a stand-alone incubator, plans was temporarily suspended due to the economic recession. After improving market conditions demonstrated the viability and need for a comprehensive incubator program serving Eastern Shore based entrepreneurs and companies, the county requested the State’s assistance to release targeted economic development funds. During this time, designated funds were unused for Phase I of the Technology Park project.

Keasha Haythe, Dorchester’s Economic Development Director who initiated work on the Tech Park shortly after her appointment in 2008, echoed Council President Newcomb’s sentiments stating, “Dorchester County is a hub of new economy ideas and opportunities. From food science and environmental restoration to supply chain management for technology companies, we invite entrepreneurs to create their economic future in the heart of the Chesapeake.

For information on the Dorchester Regional Technology Park and Innovation Crossroads, contact Ms. Haythe at 410-228-0155.