Frederick Approves MedImmune Expansion, Road Improvements
FREDERICK, Md. (AP) -- The city of Frederick has finalized a loan package that will approve expansion of MedImmune's Frederick biotech manufacturing plant and improve roads around the business.
The Frederick News-Post reports that the Board of Aldermen voted Thursday to approve a series of agreements between the company, the city and the State Highway Administration to reimburse the AstraZeneca-owned firm nearly $7 million to fund nearby road improvements.
The city of Frederick will reimburse the firm over 15 years for design and construction of an extra lane and additional off-ramps from state Route 180 to U.S. Highway 340.
City Economic Development Director Richard Griffin says the projects will improve traffic flow in the area.
MedImmune announced plans for a $200 million expansion late last year.
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