The county Department of Economic Development will provide a $250,000 loan to Towson Commons LLC to retain ViPS, and the state Department of Business and Economic Development also contributed $450,000.
“The state and county have stepped up to assure ViPS remains a strong economic anchor in downtown Towson,” David Iannucci, executive director of the Baltimore County Department of Economic Development, said in a statement.
Western Development Corp., owners of the office tower housing ViPS, has begun more than $1.6 million in renovations to accommodate the company’s expansion.
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