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Date: Mar 8, 2018

RISE Zones designed to spur economic development and job creation

Baltimore County is supporting a new State designation for Towson University to maximize their economic development impact. County Executive Kevin Kamenetz sent a letter to the Maryland Department of Commerce in support of Towson University’s designation as a qualified Maryland Regional Institution Strategic Enterprise (RISE) Zone institution. Once approved, the University is eligible for full designation as a RISE Zone.

The RISE Zone program was established by the State to leverage the economic development potential of Maryland’s higher education institutions.

“RISE Zone designation for Towson University will build on their leadership in attracting innovation companies to the TU incubator, with the potential to further support emerging companies that locate and create new jobs in Towson,” said Baltimore County Executive Kevin Kamenetz.

Towson University has strong economic development impact in areas near the university. The University has a presence in downtown Towson with its Center for Well-Being, Hussman Center for Adults with Autism, and affiliated WTMD Radio studios at Towson City Center.

“Towson University is a significant economic driver of a knowledge-based economy for Towson, the county and greater Baltimore,” said Towson University President Kim Schatzel. “The RISE Zone designation will advance the university’s connectedness and impact throughout the region. TU’s $1.8 billion annual economic impact, including $150 million generated by the TU incubator, makes us a sought-after partner for established businesses and start-ups alike. The RISE Zone designation will help position Greater Towson as a leader in technological innovation, entrepreneurship and a knowledge-based economy.”

Revised September 11, 2017