State working on incentives to keep Tessco in Maryland Talks under way: The fast-growing Sparks telephone equipment company is "looking at alternatives," and is negotiating a financial package with the state.

November 23, 1995|By Michael Dresser | Michael Dresser,SUN STAFF

State economic development officials and Tessco Technologies Inc., the nation's leading wholesaler of wireless phone equipment, said yesterday that they are talking about a financial package that could keep the fast-growing Sparks-based company in Maryland.

Gerald Garland, chief financial officer of Tessco, said the company is looking for a place to expand and consolidate its operations, which are split between a headquarters building in Sparks and a warehouse in Hunt Valley.

Mr. Garland would not confirm rumors that his company is considering out-of-state alternatives, but neither would he deny them.

"We're looking at a number of alternatives," he said. "It would be a bit premature to say what the outcome's going to be."

Mr. Garland said the company is talking with Maryland officials and that "the state has responded to our requests."

"I would state that we will probably stay in this area," he said.

Chuck Porcari, a spokesman for the Department of Business and Economic Development, confirmed that discussions are taking place but declined to discuss details.

FTC Tessco, which has benefited from explosive growth in the cellular phone industry and the advent of personal communications system (PCS) companies, has a record of strong revenue and earnings growth. Last year it was ranked No. 66 on Business Week's roster of 100 "hot growth companies."

Its fiscal 1995 sales rose from $61.4 million to $74.5 million. Mr. Garland said the company employs 157.

Over the past year, Maryland economic development officials have moved aggressively to retain companies that have raised the possibility of locating outside the state.

In one of the Glendening administration's first economic development moves, the state committed $20 million in incentives to keep spice giant McCormick & Co. from locating a 150-employee distribution center in Pennsylvania.

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