Biotech initiative could have positive impact on county | Maryland Gazette (HometownGlenBurnie.com)

Gov. Martin O'Malley last week announced the BIO 2020 initiative designed to invest $1.1 billion in the state's bioscience industry over the next decade and $60 million to grow the state's incubator network.

David Tillman, communications director for the state Department of Business and Economic Development, said while there are no county-specific programs, the initiative will "without a doubt" have a positive effect on Anne Arundel.

The governor's new initiative is not only aimed at bolstering biotechnology, but also growing other tech industries.

Arundel has already show it is a leader in the technology industry, he said. Anne Arundel County is home to a growing technology base and the Chesapeake Innovation Center, a homeland security incubator.

"The governor sees DBED's role as a way to leverage and support local efforts that are already well under way in Anne Arundel," Mr. Tillman said.

Highlights of the state initiative include:

A new Maryland Biotechnology Center to serve as a one-stop facility to showcase biotechnology innovation.

Expanding the state's biotech investment tax credit in fiscal years 2010 and 2013 that would leverage nearly $50 million in private funds for state biotech firms annually.

Increasing state "technology transfer" programs that help transition technology products developed in universities and federal labs into the marketplace.

Enhancing the state's venture fund by increasing public investment by $152 million by 2019; and increasing intellectual property services by expanding a University of Maryland Law School program.

"It will absolutely have a positive impact," said Kristen Valerio, executive director of the Chesapeake Regional Tech Council, a nonprofit organization designed to attract technology firms to the region.

"We are very fortunate to have a very well-balanced technology base," she said.