• 4539 Metropolitan Court
  • Frederick, MD 21704
  • Phone: 301-694-2999
  • Fax: 301-360-3554
  • Email: info@fitci.org
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FITCI has assisted over 35 Frederick based businesses that today generate:
  • 230 direct jobs
  • $17.2 million in annual payroll
  • 70,000 square feet of leased space in Frederick County
  • $26.5 million in annual revenues
  • Annual direct tax base (real estate and county income tax) contributing over $220,000 annually to Frederick County
  • Multi-million dollar downstream economic impact through an estimated 115 direct jobs, sales tax, rent, and local purchases from other businesses for supplies, materials, etc. totalling $77 million annually
Why business incubators and accelerators are needed:

Business incubators and accelerators reduce the risk of small business failure. Presently, there are over 1,200 business incubators throughout the United States with all indications showing continued strong growth. Business Incubators and accelerators are increasing becoming the preferred economic development tool. In 2001 alone, North American Incubators assisted more than 35,000 start-up companies that provided full-time employment for nearly 82,000 workers and generated annual earnings of more than $7 billion.

Return on Investment of Public Funds:
Public Investment Sources FY 2010 Public Investment Direct Taxes Paid by FITCI Clients/Grads Annual Return on Investment
City of Frederick $42,000 $63,000 150%
Frederick County $100,000 $158,306 158%
Total $142,000 $221,306 156%

Incubators/Accelerators provide Results:
  • Start-up firms served by incubators, annually increased sales by $240,000 each and added an average of 3.7 full and part-time jobs per firm.
  • The National Business Incubator Association (NBIA) estimates that North American incubator clients and graduates have created approximately a half million jobs since 1980- enough jobs to employ every living person residing in Denver, CO.
  • Every 50 jobs created by an incubator or accelerator, client generates another 25 jobs in the community.
  • Incubators report that 84% if graduates stay in their communities and continue to provide a return to their investors.
  • Business Incubators and Accelerators report that 87% of all firms that graduated from their incubators are still in business.
  • For every $1 of estimated annual public investment provided to a mature business incubator or accelerator, client and graduates of NBIA member incubators generate approximately $30 in local tax revenue.
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