Homegrown Business Excited to Receive First REDI Fund Grant

L to R: Heather Gramm of the MD Dept of Commerce, Lane Koenig and Sheila Sankaran of KNG Health Consulting, Laurie Boyer from REDI and Bridget Newton, City of Rockville Mayor

Yesterday Rockville Economic Development, Inc. (REDI) visited KNG Health Consulting to present the check for the first grant made from the Business Expansion Fund, which was established this past July by Rockville’s Mayor and Council.

KNG Health Consulting was an ideal candidate for the grant. In 2007, Lane Koenig, President, founded the company in his townhouse basement in Rockville. The company first sublet offices on Research Boulevard, then moved to their current suite on Shady Grove Road in 2014. With their conference room often double booked, they needed another meeting room. The new 1,150 square feet includes two offices in addition to a conference room.

“Part of what we are trying to do is grow the company and to gain the support of Rockville is tremendous. It led us be more effective and efficient as we’re working and trying to grow a business,” said Koenig. “We work and live in Rockville. It’s a great community and we’re ready to grow the company in Rockville.”

KNG Health Consulting provides health economics and policy consulting services to clients all over the DC area and across the country.

The new conference room constructed in part of an adjacent, vacant office suite.

Described as a big milestone for the City, the Business Expansion Fund supports existing Rockville businesses that are expected to strengthen the economy by expanding their operations and generating jobs in high-growth industries. If a businesses is looking to grow by a minimum of 1,000 square feet, the Fund provides a one-time grant up to $5.00 per square foot.

“We are excited to be presenting KNG Health with our very first Business Expansion Fund assistance check. We look forward to seeing your continued growth here in the city.” said Laurie Boyer, REDI’s Executive Director, while handing over the check amid applause from the company’s staff.

KNG Health Consulting staff during the presentation

“We’re grateful to be here in Rockville. We’re committed to staying here in Rockville. Especially if we get support like this, it’s an easy choice,” said Sheila Sankaran, Chief Executive Officer.

KNG Health Consulting will be celebrating their 10th anniversary in February.

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.

The Business Expansion Fund is open to existing Rockville businesses expanding their operations within the corporate limits of the City of Rockville. Ideal applicants are businesses that strengthen the City’s economy by creating jobs in high-growth industries and investing in the quality of their facility.

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