The Maryland Technology Development Corporation (TEDCO) contracted with RESI to evaluate the economic performance of six Maryland incubators. These incubators include the Technology Advancement Program located in College Park, the Technical Innovation Center located in Hagerstown, the UMBC Technology Center located in Baltimore, the Maryland Technology Development Center located in Rockville, the Emerging Technology Center located in Baltimore City, and the NeoTech Incubator located in Columbia. The objective of the analysis is to estimate the combined economic impact of these six incubators by taking into account the economic impacts of firms that are being served or have been served by one of the incubators under consideration.
The study was initiated in December 2000. To conduct the evaluation, RESI disseminated surveys to 125 incubator tenants and graduates. The survey instrument was designed to elicit responses regarding past and current levels of employment, revenues, and expenditures. The responses form the basis of the evaluation.