Governor Wes Moore Spotlights Biotechnology and Economic Development During Visit to University of Maryland BioPark

Governor Wes Moore today visited the University of Maryland BioPark for a discussion and tour focused on biotechnology, innovation and economic development. Governor Moore was joined by University of Maryland Baltimore President Bruce E. Jarrell, M.D., F.A.C.S.; Biotechnology Innovation Organization Chief Executive Officer Rachel King; and numerous biotech and life sciences industry leaders to discuss opportunities for collaboration and promoting the innovation economy in Maryland.

“BioPark isn’t just a hub for discovering new, breakthrough treatments and cures–it’s also a key piece of our state’s economic engine,” said Gov. Moore. “The biotech industry contributes $20 billion to our state’s economy each year, and average annual life sciences incomes are significantly higher than other industries in Maryland. The biotech sector is going to create jobs, drive growth, and build an economy fit for the 21st century.”

Governor Moore and guests toured the University of Maryland BioPark, seeing first-hand how the Innovation Economy Infrastructure Act of 2023 will benefit projects like 4MLK, BioPark’s newest commercial lab building. The 8-story, 250,000-square-foot building will be located at the intersection of Martin Luther King, Jr. Blvd. and Baltimore St., and will provide critical wet laboratory space in downtown Baltimore for researchers and companies, flexible lab and support space for start-ups, office space, and a conference center.

BioPark’s mission is to create a university-associated research park that accelerates biotechnology commercialization and economic development in the surrounding Baltimore community and throughout the region. BioPark building designs maximize flexibility to accommodate a range of occupancies from small-scale pre-built lab and office space in the BioInnovation Center to full floor users. BioPark provides an ideal location in the midst of a large regional bioscience cluster in Baltimore, with direct access to the university’s talented scientists and outstanding biomedical facilities.

“BIO appreciates the continued focus of Governor Moore and the General Assembly on biotech’s revolutionary potential and the innovation ecosystem that delivers for patients and people everywhere,” said BIO President and Chief Executive Officer Rachel King, who is also founder and leader of numerous organizations and Maryland-based biotech companies. “During my career in biotech, I’ve witnessed incredible growth in Maryland life sciences. That progress stems from a talented workforce, supportive infrastructure, and a commitment from public officials and business leaders to work together to spur lifesaving and life-changing innovation here in Maryland.”

The Moore-Miller administration is committed to collectively strengthening the state’s diverse assets to create a more economically competitive Maryland. In May, Governor Moore signed the Innovation Economy Infrastructure Act of 2023 into law, establishing the Build Our Future Grant pilot program in the Maryland Department of Commerce to provide funding for infrastructure projects in eligible technology sectors. The law requires certain grantees to provide matching funds and requires the Department of Commerce to report to the governor and the Maryland General Assembly on the projects funded through and the economic impact of the program by July 1, 2026.

Last week, Governor Moore announced the launch of the Build Our Future grant program. Funded at $10 million, the pilot program will provide matching grants of up to $2 million to projects that demonstrate a transformative impact in accelerating growth and innovation in the state’s strategic industry sectors. Applications will be accepted starting October 16, with an informational webinar to be held October 19.