A study just completed by the Sage Policy Group on behalf of the Maryland Business Incubation Association (MBIA) has concluded that Maryland’s 30 small business incubators are having a significant and far-reaching impact on the state’s economy.
Utilizing IMPLAN modeling software, the Sage study examined impacts on job creation, associated income, augmented commercial sales and state tax revenues. The study found that in 2015 existing incubator companies and incubator operations accounted for 4,100 jobs, $310 million in compensation, $635 million in augmented commercial activity and $27.5 million in state taxes.
“Our incubators are both efficient and effective mechanisms for commercializing new technologies in Maryland,” said Anirban Basu, President of Sage. “They fill a significant gap in Maryland in getting the vast R & D resources here translated into global commerce and job creation.”
Business incubators reach every part of Maryland, from the rural areas in the eastern and western parts of the state to the urban corridors of I-95 and I-270. “Our incubators are at the leading edge of technology innovation,” said Dr. Robert Snyder, President of MBIA and Incubator Manager at Bethesda Green. “Where there is new industry innovation in cyber tech, biotech, health tech, clean tech and education tech,” said Snyder, “you will find our incubators leading the way in commercialization.”
The study was undertaken with support from MBIA along with added support from several of its member incubator organizations: Sage Growth Partners, Emerging Technology Centers, BioHealth Innovation, and Montgomery County Business Innovation Network.
Contact
Robert Snyder, President, MBIA,
This email address is being protected from spambots. You need JavaScript enabled to view it.; 240-396-2440 ext. 103
Zack Fritz, Chief Operating Officer, Sage Policy Group
This email address is being protected from spambots. You need JavaScript enabled to view it.; 410-522-7243
