Government Pays $1 Million to Keep Health Biz in Silver Spring
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 …
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 ›