$2.8 million approved for MedImmune facility

Maryland Watch

June 21, 1996

The state Board of Public Works has approved $2.8 million in loans to help MedImmune, a Gaithersburg biotechnology company, build a production facility in Frederick.

MedImmune has not accepted the offer, nor has it decided whether it will build the plant in Frederick, said Mark Kaufmann, a spokesman for the company.

The company, which is developing therapies for infectious and other diseases, also is mulling an incentive package from Cleveland, which wants the facility.

Board of Public Works members -- the governor, state comptroller and state treasurer -- approved a $1.4 million loan to the City of Frederick, and a $1.4 million loan to Frederick County from the Maryland Industrial and Commercial Redevelopment Fund. The city and county would lend the money to MedImmune should it choose to build and equip a 65,000-square-foot, state-of-the-art production facility in Center Park, a Frederick office and industrial park.

The board, which approves major construction projects and procurements, also approved a $15,000 grant to the City of Frederick for a survey of the proposed building site.

Pub Date: 6/21/96

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