Seeking to boost high-tech development, Prince George's Economic Development Corp. and the University of Maryland Technical Advancement Program will unveil a 15,000-square-foot Technology Growth Center in Hyattsville tomorrow.
The center in Prince George's Metro Center office complex will provide space for start-up technology companies. Metro Center paid most of the cost of the construction and furnishings, and the undisclosed amount was partially offset by a $25,000 grant from the EDC. The growth center is a public-private partnership established between the EDC and the university.
So far, Technology Growth Center has two tenants, Urban Link Solutions Inc. and Telespan Inc., said Tim Taylor, head of the center and director of leasing. Taylor will be recruiting other companies for the remaining 12,000 square feet. The suites range from 110 square feet to 5,000 square feet, he said, and rent is $18.50 a square foot but is negotiable.
Companies will be able to benefit from flexible leases on price, space, and duration, Taylor said. The building is equipped with a high-tech training facility, Internet access and options to expand within the building--options that are typically unavailable in conventional leases.
Metro Center thinks of the space "as a second incubator or for established companies that don't fit into the university's incubator program," Taylor said. Tenants that receive financial assistance from the EDC or those that negotiate special agreements with U-Md. will be encouraged to stay in the county by the university and the EDC, he said.