October 12, 2016
KNG Health Receives First Expansion Grant
Rockville Economic Development, Inc. (REDI) and the City of Rockville are pleased to announce that KNG Health Consulting is the first recipient of a grant from the Business Expansion Fund, which was established in July 2016. The Fund supports existing Rockville businesses that strengthen the local economy by expanding their operations and generating jobs in high-growth industries. With the grant, KNG Health added 40% more square footage and plans to hire 2-4 employees in 2017. The company’s commitment to Rockville since its founding in 2007 and potential for continued growth made it an ideal candidate for the Fund.
“We are excited to support KNG Health’s expansion here in Rockville with our Business Expansion Fund,” said Laurie Boyer, REDI’s Executive Director. “The entire healthcare industry sector continues to grow and we are pleased to see the success that KNG has had, and will hopefully continue to have, in the future.”
KNG Health Consulting provides health economics and health policy consulting services to clients across all sectors of the healthcare industry. Their portfolio covers such topics as provider payment analysis and reform, quality and performance measurement, and the estimation of the societal and economic value of medical treatment.
“With our tenth anniversary on the horizon, we are excited about the additional capacity that this expansion provides for our future growth. We look forward to continuing to build our presence in the Rockville business community,” said Sheila Sankaran, Chief Executive Officer.
In addition to KNG Health, REDI has approved two businesses for future grants upon the completion of their expansions. Combined, those grants will help create over 35 new jobs and expand the businesses’ operations by over 9,500 square feet. For Rockville businesses looking to grow by a minimum of 1,000 square feet, the Business Expansion Fund provides a one-time grant up to $5.00 per square foot. More information on the Fund and other programs is available at www.RockvilleREDI.org/incentives.