UM BioPark Helps Launch New Careers in BioTech

UM BioPark Helps Launch New Careers in BioTechA $1.4 million federal workforce grant administered by the University of Maryland BioPark is finally paying dividends, in the form of graduates getting jobs. And the fact that its graduates are getting jobs in the area is quite a feat given the sluggish economy and notoriously difficult job market graduates are facing.

The BioPark, which sits just west of the main campus of the University of Maryland, Baltimore (UMB), has over thirty tenant companies, with names such as Global Scientific Solutions for Health (GSSHealth), Harbor Bank, Human Research Protections Office, InstantLabs and Noxilizer, Inc.

A unique feature of the BioPark is the fact that students can gain valuable workplace experience with its tenant companies, acquiring critical employment opportunities that are helping sustain Maryland’s thriving biotech sector. The BioPark is a critical piece in the larger puzzle of growing and sustaining an important entrepreneurial and innovative business climate.

What most people don’t know is that the University of Maryland, Baltimore (founded in 1807) is a thriving “biomedical research institution,” which has received more than $2 billion for research in the previous four years, monies put to use in the areas of genomics, vaccines, neuroscience, HIV/AIDS, and neuroscience, to name a few.

According to their website, “For early-stage to mature bioscience companies, the BioPark offers a sophisticated laboratory and office environment on the University’s vibrant academic medical center campus.”

While most Marylanders are familiar with the ground-breaking life sciences work done at Johns Hopkins, few are aware that our state is home to a vibrant life sciences sector. The life sciences industry in Maryland is thriving, and the state has done its fair share of investing in the industry. In fact, in 2013 the state of Maryland received a first place ranking for entrepreneurship and innovation, accorded by the U.S. Chamber of Commerce. Unfortunately, we ranked 43rd in business climate, which is why Maryland is doing its best to change that.

For interested parties, there are more than a few resources for biotech companies, such as:

  • MD Innovation Initiative (MII)
  • TEDCO
  • Biotechnology Investor Incentive Tax Credit (BIITC)
  • Maryland Venture Fund
  • Patent Assistance Program
  • BioMaryland Center

Please contact Mark Rapson, CPA, CGMA, Chair of the Biotech and Life Sciences Service Group,  mrapson@katzabosch.com for any questions.

 

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