Holding our own
The U.S. Labor Department's recent announcement that more than 240,000 U.S. jobs were cut last month did more than boost the national unemployment rate to a 14-year high. It provided us all with the most chilling example yet of the severity of the global economic downturn. Compounded by reports of historic sales losses and poor projections for the faltering U.S. automotive industry, there isn't much to boast about on the national economic front.
However, all Marylanders should find some comfort in knowing that, despite the doom and gloom from Wall Street, Maryland continues to weather the economic storm better than most states and that the O'Malley-Brown administration is making the right choices now to grow our diverse, resilient economy, expand our highly skilled workforce and improve Maryland's position in the global economy. To learn more, read my full Op/Ed in Friday's Gazette. |
 Gaithersburg is "Capital for a Day"
On November 6, I joined Governor O'Malley and Mayor Sidney Katz in Gaithersburg for "Capital for a Day," a recurring program that brings the State Capital to every corner of Maryland. The Governor began the day by meeting with a Montgomery County student forum. There, he detailed the record $5.3 billion that the O'Malley-Brown administration has invested in K-12 education in its first two years in office, and the $741 million invested in school construction.
Governor O'Malley later delivered remarks at a luncheon with biotechnology executives and enterprise zone stakeholders, highlighting the state investment in the city's biotech initiatives and efforts to expand the industry. We wrapped up the day at Amcon, Inc., a residential concrete company, where he met with several other small business owners and representatives to talk about the Health Insurance Partnership, the State's new subsidy program for small businesses. For the complete release, click here.
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Hopkins names new President
 I'd like to extend a warm Maryland welcome to Ronald J. Daniels, who was unanimously elected last week as the 14th president of Johns Hopkins University. Daniels, who is currently the provost and chief academic officer of the University of Pennsylvania, will take his new post on March 2. Daniels emerged from an international search involving nearly 300 nominees and interviews with academic leaders from the nation's most important research universities.
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MD biotech entrepreneur receives international honors
My congratulations go out to Mona Jhaveri, a 2005 graduate of bwtech@UMBC's ACTiVATE program. Mona was the North American honoree at the Cartier Women's Initiative Awards, presented last month at the annual Women's Forum for the Economy and Society in Deauville, France. Mona is the founder and CEO of Foligo Therapeutics, which is based in Montgomery County and develops molecular-based products to detect and treat ovarian cancer. Only five awards were presented, each to a female entrepreneur from a different continent. Mona  will receive $20,000 and have the opportunity to receive free mentoring from consultants at Cartier, McKinsey and INSEAD (a France-based business school) for one year.
A research and technology community, bwtech@UMBC is associated with the University of Maryland, Baltimore County (UMBC). ACTiVATE is a year-long program that uses technologies developed by Maryland's universities and research institutions and trains women with significant technical or business experience to start companies based on those technologies. In the first three years of the program, ACTiVATE has trained 72 women and 15 companies have been founded by ACTiVATE graduates. bwtech@UMBC is currently recruiting for its 2009 ACTiVATE class. For more information about the program, click here.
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Press Room
David W. Edgerley: State holding its own in down economy
(The Gazette; November 14)
(Washington Post; November 7)
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BRAC Zone tours roll on
In the last few weeks, Lt Gov. Brown and I have toured four of the proposed BRAC Community Enhancement Zones and these outings have provided critical insights into how our local partners plan to maximize the new State program for economic development. BRAC Zone applications were submitted by Laurel, Baltimore City, Odenton, Frederick and an area near Andrews Air Force Base.
The BRAC Zone legislation, passed during the 2008 legislative session and signed by Governor Martin O'Malley in May, offers financial incentives to local governments for the infrastructure necessary to encourage BRAC-related businesses and households to locate within existing locally-designated state priority funding areas. Priority is given to areas that are served by public transportation and have the greatest capacity for economic growth. We plan to announce the final BRAC Zone designations on December 15, 2008.
To read more, click here. |
Advanced research facility breaks ground in Frederick
Last week, I helped break ground on an exciting, new advanced research facility in Frederick. Not only will it eventually bring more high paying jobs to Maryland, but more importantly, the facility is aimed at rapidly developing new treatments for cancer. The initial phase of the project will host the National Cancer Institute (NCI) as its anchor tenant and provide up to 330,000 square feet of state-of-the-art office and laboratory space. Part of the Riverside Research Park in Frederick, the site will have expansion capacity for another 470,000 feet, which may be occupied by life-science and advanced technology partner organizations.
Just nine months ago, the Governor met with SAIC-Frederick (NCI-Frederick's prime contractor) officials at the BIO conference in San Diego to learn about the project, so it was a pleasure to attend the ceremony and have a public opportunity to commend SAIC for their efforts and investments in Maryland. DBED stands ready to partner with SAIC and NCI in their business development efforts to locate tenants to the campus and identify public private assistance opportunities, such as the Governor's BIO 2020 initiative to create a world class center of excellence in Maryland. |
| Cinetic Landis brings 150 jobs to Western MD
A few weeks ago, I celebrated with Washington County and Hagerstown officials the opening of a new manufacturing facility in Hagerstown that is bringing 150 higher paying jobs to Washington County. Cinetic Landis Corp., a global manufacturer of precision grinding systems, relocated from Waynesboro, Pa. to Washington County's Newgate Industrial Park. The $10.5 million project includes 84,700 square feet of manufacturing space and a two-story, 24,000 square foot office complex.
DBED provided Cinetic with a $500,000 conditional loan to assist with the land purchase and development costs. The company's decision to open a state-of the-art manufacturing facility speaks volumes about Maryland's highly qualified workforce, as well as our supportive and highly diverse business community. We look forward to continuing to work with Cinetic Landis to ensure they grow and expand in Maryland, providing excellent job opportunities for the people of Western Maryland. For the complete release, click here.
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Growing MD tech companies get state funding boost
Investing in emerging tech and life science companies is an important way to grow Maryland's nationally recognized biotech industry. On October 27, the Governor announced that five rising Maryland technology and life sciences companies, all of which previously received Maryland venture funding, have been awarded an additional $350,000 to assist with the development, sales and marketing of a number of cutting-edge tech, medical and disease detection products.
The additional round of funding, through DBED's Challenge and Enterprise Investment Funds, will go to two Rockville-based companies, Neodiagnostix and Aguru Images; Baltimore-based Encore Path Inc.; Clarksville-based Neuronascent Inc.; and Gaithersburg-based Sirnaomics Inc. For the complete release, click here.
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Save the date
Do you have Maryland business tax related questions? The Maryland Economic Development Association (MEDA) Foundation, Inc., in partnership with SC&H Group LLC, will conduct a Maryland Business Tax Seminar on Wednesday, December 3. This unique  seminar will highlight the state's tax structure including what taxes businesses are required to pay, the ways in which taxes are collected, and how taxes are distributed. Representatives in the accounting, legal, and tax fields will share their specialized expertise and provide attendees with an in-depth look at how business taxes work in Maryland.
The seminar will be held at Frederick Community College's Conference Center from 8:30 a.m. - 3:30 p.m. Cost to MEDA members is $35 and $50 to non-members and includes continental breakfast and lunch. Please note seating is limited! To register, obtain a draft agenda, or get information about hotel accommodations click here or call 410-575-6027.
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The Edge is published by the Maryland Department of Business and Economic Development. For a complete archive, visit our Publications page.