The Knott Co., a 70-year-old construction and development firm in Washington and Baltimore, has come up with a new name and a new concept for suburban industrial parks.

Borrowing from educational planners, Knott has announced plans for a 350-acre business campus in Prince George's County.

To be located in Ammendale, on U.S. Route 1 near the Capital Beltway, Knott's project will be called Ammendale Business Campus. Spokesmen said the $70-$100 million development will bring more than 5,000 jobs and an estimated annual payroll of $90 million to the county, when completed in 10 years.

The Maryland National Capital Park and Planning Commission recently approved site plans for the park. Knott plans to begin work soon on a 56-acre section that will include up to [WORD ILLEGIBLE] buildings. The first such building will be a three-story, 60,000 square foot headquarters for Arbitron.

Buildings will be designed for architectural harmony, while open spaces, park benches and bicycle paths will create an unusual industrial park working environment. Knott is developing the business campus in a joint venture with the Christian Brothers, a roman Catholic teaching order, which will retain ownership of the land involved.