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FITCI to double its space

Thursday, Sept. 28, 2006

Frederick’s business incubator is in the process of hatching itself.

Thanks to increasing demand for its services, the Frederick Innovative Technology Center Inc. at Hood College is planning to expand into another facility this fall, roughly doubling its space.

Executive Director Michael Dailey said the 20-month-old incubator would rent a 10,000-square-foot space at the Marsh-McBirney engineering company building at 4539 Metropolitan Court, Frederick.

Dailey said renovating that space will cost about $1.1 million, and will be funded by $560,000 from the Maryland Technology Development Corp., $200,000 from the state Department of Business and Economic Development and other money from the city, county and private backers. The incubator offers services for growing companies that are designed to assist and inform entrepreneurs, including office space, lab space and coaching and mentoring services.

‘‘We will have 25 offices there and 10 bio labs,” Dailey said. ‘‘We already have 50 percent commitment for the space there, based on our current waiting list.

‘‘Some of the companies in our existing space are growing and need a place to do that, and there are new companies that want to come in,” Dailey said. ‘‘Most of them are Frederick companies, but some are from out of the area. About 30 percent of our tenants right now are from outside the Frederick area.”

FITCI’s success, said Ben Wu, assistant DBED secretary for the Capital Region, ‘‘reflects the growth of our Maryland high-technology sector and our research, workforce and education strengths. Through a state-county-city partnership, FITCI is now able to expand its services to startup businesses that can contribute to Maryland’s technology pre-eminence.”

Dailey said FITCI would keep its ‘‘corporate headquarters” at its space at Hood College. He also said further expansion is in the works.

‘‘We think business growth is continuing and that entrepreneurship has really taken hold here,” he said. ‘‘In the next three to five years we’re looking to be settling on one 50,000-square-foot facility, to meet the demand that we have now.”

M. Richard Adams, president of the Frederick County Chamber of Commerce, said, ‘‘I think this is wonderful that that they are able to do that, that we have a place for these types of businesses and that it is working. I think it just says the county is right for increased technology growth ... and they are certainly all potential members so we are very supportive of that.”