Social & Scientific Systems will have to retain at least 300 full-time employees for the next 10 years.
A public health research business will receive $1 million in loan and grant funds to keep its headquarters in Silver Spring, the Maryland Department of Business and Economic Development announced Wednesday. Social & Scientific Systems, Inc., a 34-year-old public health research company, will have to maintain its Silver Spring location and retain at least 300 full-time employees through 2023 to receive a $650,000 conditional loan from the state. Montgomery County kicked in an additional $350,000 grant with the same terms, according to a release from the department. “Retaining an industry-leading company like Social and Scientific Systems in Montgomery County, MD, is a vital component to ensuring the continued growth and success of our …
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Maryland Department of Business and Economic Development gave out more than $130 million in grants and loans, and $14 million in tax credits to life science companies.
Fiscal 2012 was a fruitful year for Maryland’s business environment—one that brought a groundbreaking state-university partnership to commercialize life sciences research, a pair of lucrative trade missions to Asia by Gov. Martin O’Malley, and national accolades for being at the forefront of innovation, according to the latest report from the state’s arm for spurring the state’s economy. The Maryland Department of Business and Economic Development's annual report, published Wednesday, touts the state as a “trailblazer in the Innovation Economy” and highlights the department’s successes in financing, tax credits and business assistance. From July 2011 to July 2012, DBED: Those moves helped Maryland garner the U.S. Chamber of Commerce’s top …
jag
12:55 am on Thursday, February 28, 2013
You're nuts. Why would MD give the loan (as an aside, the title of the article is way off if it's in fact a loan) if they won't see a good ROI? Out of the goodness of their heart? Yeah, right. This is how DC and VA play - it's just a fact of life that MD can't afford to always sit on the sidelines and let the companies be poached by other jurisdictions. more ›