Rockville gets REDI for China

Economic development arm reaches to overseas partners

Wednesday, Nov. 15, 2006

by Liza Gutierrez

Staff Writer

Rockville Economic Development Inc. is making its first overseas venture to market the city as an attractive site for international business expansion.

Sally Sternbach, REDI’s executive director, leaves this week for a 10-day tour to Shanghai, Beijing and Penglai City, where she will meet with government officials and technology organizations.

‘‘We’ve been working on relationships with China for a couple of years,” Sternbach said.

REDI initiated a local Asian American Business Conference that is two years in the running, and Mayor Larry Giammo went on a trade mission to China and Singapore with a state delegation two years ago.

Asian Americans comprise the city’s largest minority group, with Chinese residents taking largest piece of that pie.

‘‘It is a confirmation of the city’s support for its Asian American citizens and businesses,” Sternbach said.

Sternbach is traveling with a small group of local residents who have participated in the Asian American Business Conference and who have helped her develop direct relationships with China.

Establishing strong ties now can lead to business opportunities later. Sternbach said part of her objective ‘‘is to see if I can find some companies that might be eventual prospects for our incubator.”

The new incubator, set to open in tandem with the city’s revamped Town Center next spring, is set for international technology companies looking to come into the U.S. market. It is expected to house between 30 and 35 companies.

The county tries to give a theme to each of its business incubators, like the ‘‘small business” incubator in Wheaton and the biotech focus in Shady Grove, said David W. Edgerley, director of the county Department of Economic Development.

The goal for the Rockville incubator is to create ‘‘soft landing opportunities for international companies,” Edgerley said. Relatively small companies that are not familiar with business practices in the United States can find the necessary support as they become acclimated to the business culture here, he said.

Part of creating economic activity includes working with entrepreneurs to grow new businesses and finding synergies between companies to foster partnerships, Edgerley said.

‘‘China is an economy recognized by all as a leading force in the world for the future,” he said. ‘‘They have reached out to our country and our county many times. There are synergies there.”