Maryland Eastern Shore's first full-service business incubator approved
Tech entrepreneurs will soon find a new home at Innovation Crossroads, the Eastern Shore’s first, full-service business incubator.
Gov. Martin O’Malley and the department of public works recently approved $1.2 million in funding from the Maryland Department of Business and Economic Development for construction of the incubator, the Dorchester County Council announced on Tuesday.
Innovation Crossroads is the planned anchor tenant of the newly constructed Cambridge-based Regional Technology Park.
“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,” Dorchester County Council President Jay L. Newcomb, said in a statement.
The incubator was first proposed in 2007, but plans stalled due to the recession. As the market improved, county officials began requesting state funding for the project, according to county officials.
“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,” Keasha Haythe, Dorchester County’s economic development director, said in a statement.
Maryland currently has 27 business incubators, designed to support early-stage entrepreneurial companies in fields ranging from medical research to clean energy.