Anne Arundel Economic Development Corporation (AAEDC) has launched the Arundel Defense Tech Toolbox to provide resources and support to growing tech and national security companies in the county.
As announced in an AAEDC press release:
The toolbox offers a menu of financing, a workforce development grant and business development consultations specifically aimed at assisting technology companies with gross revenue of less than $5 million and fewer than 100 employees. To access the toolbox, businesses must be located in Anne Arundel County or have a signed lease demonstrating their intent to move into the county. AAEDC is investing $1.2 million to launch the program.
“There are many of these businesses that have launched and invested in themselves in the early stage and have had initial success. The Arundel Defense Tech Toolbox provides meaningful assistance so they can reach the next stage of growth and create more jobs in our county and state,” said AAEDC CEO Julie Mussog. “This initiative signals our full commitment to supporting our tech industry in the national security space and maintaining Anne Arundel County’s reputation as the nation’s cyber capital.”
“The Arundel Defense Tech Toolbox will ensure the defense and cyber industries continue to fuel the economic engine of West County,” added County Executive Steve Schuh.
Read the press release to learn more about the range of tools in the tool box including its signature component the Next Stage Tech Fund.