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$250,000 EDI Fund Assistance "Charges" New Tech Company In College Park

(l. to r.; Michael Gill, Secretary, MD Dept. of Commerce; Ken Ulman, Chief Strategy Officer, UMD; County Executive Rushern Baker; Bob Proctor, CEO, FlexEl; Dannielle Glaros, Council Vice Chair; Jim Coleman, President & CEO, EDC; Dr. Wallace Loh, President, UMD; David Iannucci, Asst. Deputy Chief Admin Officer, Prince George's County)College Park, MD, April 8, 2016 - Today, County Executive Rushern L. Baker, III and EDC President and CEO Jim Coleman, along with state and city officials attended the grand opening of FlexEl, LLC, a custom battery solutions company that has expanded in Prince George's County.  Thanks in part to $250,000 in financial assistance from the Prince George's County Economic Development Incentive Fund and additional assistance from the Maryland Department of Commerce, FlexEl has opened a research, development and manufacturing facility that will change the face of how we power our world and create 47 jobs for Prince George's County residents.

"FlexEl reflects County Executive Baker's vision to transform our County with innovation, opportunity and prosperity through state-of-the-art technology," said Coleman.  "FlexEl is the kind of hot, new technology company that's kicking here in Prince George's County.  The word is out.  College Park is the new Silicon Valley."

FlexEl originally launched its startup out of the University of Maryland that creates state-of-the-art thin film batteries.  Today's grand opening included remarks from Maryland Commerce Secretary Michael Gill, County Executive Rushern Baker, County Council Vice Chair Dannielle Glaros, City of College Park Mayor Patrick Wojahn and University of Maryland Chief Strategy Officer for Economic Development Ken Ulman along with a demonstration of the technology and  a tour of the new 10,000 square-foot facility.

"For too long, the newest and best technologies originating in College Park were leaving Prince George's County for other jurisdictions," said County Executive Baker.  "We are hoping that FlexEl is the beginning of a change in that trend.  On behalf of the residents of Prince George's County, I want to welcome FlexEl to Prince George's County and congratulate them, the University of Maryland and the City of College Park on this successful development and game changing technology that will impact the world from right here in Prince George's County."

The County's Economic Development Incentive Fund was created as a $50 million fund designed to create jobs, increase the commercial tax base and at the same time, create a "Wow" factor to attract businesses and investments in Prince George's County.  Companies for the EDI Fund are businesses that are expanding within the County or are considering relocating to the County and are seeking financial assistance with construction costs, relocation costs, acquisition costs or leasehold improvements. 

To start growing your business in Prince George's County today, contact the Prince George's County Economic Development Corporation at (301) 583-4650.