| BALTIMORE, MD Wed, Jun 18, 2008 In an effort to further the State’s vision for a One Maryland economy, Governor Martin O’Malley today announced that the State has approved a $2.5 million investment in the Riverside Industrial Park in Cumberland. Made through the Maryland Department of Business and Economic Development’s One Maryland program, the investment will help Allegany County repurchase and make improvements to three industrial buildings in the Park totaling 338,000 square feet. The buildings became available when the owner, Biederlack of America, a well-known blanket manufacturer, downsized its workforce earlier this year. Following the purchase of the buildings, the county plans to lease 125,000 square back to Biederlack, as the company wants to maintain a presence in Cumberland, and convert the remaining space into flex, industrial and warehouse space suitable for new businesses.
“This investment will allow Allegany County to take what is now an underused, but potentially valuable property and turn it into space for existing companies as well as new businesses,” said Governor O’Malley. “Through our One Maryland program, Allegany County can become more competitive in attracting and retaining a broader variety of companies, and also provide jobs for the working families of this region.”
“By partnering with the State of Maryland on this important project, Allegany County is taking steps to redevelop employment opportunities for its citizens,” said James J. Stakem, President of the Allegany County Commissioners. “The Commissioners offer their sincere thanks to Governor O’Malley and Secretary David Edgerley for using the One Maryland program to make this deal happen.”
‘This project will serve not only to create new jobs in Allegany County, but it also offers the opportunity to assist existing businesses,” said Matthew Diaz, Allegany County’s Economic Development Director. “This is a great business retention project for the County.”
The buildings and site were formerly part of the Kelly Springfield Tire Manufacturing Facility. Original construction began in the 1920’s and later additions were added in the 1960’s. In 1987, Kelly Springfield ceased all operations at the facility and transferred ownership ultimately to the Allegany County Commissioners in 1997. Since then, the county demolished much of the tire production facility leaving behind the makings of a successful business park.
About DBED:
The Maryland Department of Business and Economic Development stimulates private investment and creates jobs by attracting new businesses, encouraging the expansion and retention of existing companies, and providing workforce training and financial assistance to Maryland companies. The Department promotes the State's many economic advantages and markets local products and services at home and abroad to spur economic development and international investment, trade and tourism. Because they are major economic generators, the Department also supports the Arts, film production, sports and other special events. For more information, visit www.choosemaryland.org.
|
