It will pay for part of a state loan.
Frederick, Md (KM) Frederick County is helping two local businesses expand.
DRS Signal Solutions, a subsidiary of Leonardo DRS, Inc., is expected to lease an existing building at 4910 Executive Court for a new manufacturing facility. During a Council meeting on Tuesday, Acting Director of Workforce Development, Jodie Bollinger, said the Maryland Department of Commerce is providing a $350,000 loan to help in this expansion, and Frederick County must provide a ten percent match. “Frederick County will provide the required local ten percent match in the form of reimbursement to DRS up to $35,000 in permits fees and/or project fees associated with water and utilities fees paid at the project site, “she says.
DRS has a data center at 5202 Presidents Court which will continue in operation. As part of its expansion, DRS will lease 86,146 square feet of space at 4910 Executive Court South. It will relocate from its facility in Montgomery County to Frederick County, bringing in 150 new jobs to Frederick County.
The company is a leading technology innovator and manufacturer of integrated products, services and support to military forces, intelligence agencies and defense contractors worldwide.
The Council is expected to vote on this resolution of support at a later date.
Kite Pharma in Urbana is also expanding, and Frederick County is being asked to help out.; Kite already has a 275,000 square foot manufacturing facility on Bennett Creek Court. It plans to purchase a property next door to build a 70,000 square-foot research and development center.
Bollinger says the State Department of Commerce is providing a $1.5-million loan. “Frederick County will provide the required local match in the form of a commercial and industrial property tax credit,”: she says. “And this program provides a tax credit on the increased tax assessed value on the property. It’s for new and expanding businesses that create jobs with the focus of manufacturing, fabrication and assembly.”
This project is expected to create 100 new full time jobs for a total of 500 positions. .
Kite Pharma uses cell therapy to develop products that treat and potentially cure cancer.
The Council is also expected to vote on this resolution in support of Kite Pharma at a later date.
By Kevin McManus