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Reflecting on 2007 
It's hard to believe it has been a year since Governor O'Malley appointed me as Maryland Secretary of Business and Economic Development. Looking back, we managed to accomplish some great things in 2007 despite a challenging fiscal environment. My staff and I are looking forward to building on that record of accomplishment in 2008.
I wanted to share some of these accomplishments with you. DBED staff, our local partners and the Maryland business community should be proud of these achievements.
Stimulating the Maryland economy
In 2007, DBED provided financial assistance to 143 Maryland companies, which has created more than $1 billion in capital investment, the vast majority benefiting small businesses with fewer than 100 employees. And on another positive note, DBED’s 2007 investments have helped create 2,183 new jobs while retaining 3,151 existing jobs for Maryland residents.
Managing Director Jim Henry and the Division of Finance Programs not only played a big part in the accomplishments listed above, but they also provided 43 loans to Maryland small businesses, invested $3.3 million to support 39 start-up companies through the Maryland Venture Capital Fund, and helped provide workforce training for more than 10,000 employees at 147 Maryland companies. DBED’s popular Biotech Investment Tax Credit program helped produce $12 million in investment for 19 growing Maryland biotech corporations. Click here for more.
Attracting and retaining businesses in Maryland
Assistant Secretary Robert McGlotten and the Division of Business Development helped to bring about a number of significant Maryland “wins” during the past year. With grant assistance from DBED, Allen Family Foods  committed to expand operations and add 750 new jobs in Talbot and Dorchester counties. Leading financial services firm Morgan Stanley signed a lease for Class A office space in Harbor Point, a new $700 million, mixed-use waterfront project located between Harbor East and Fells Point. Comcast Cable signed a lease for office space in Largo, and Cinetic Landis Grinding Corp., announced the relocation of its manufacturing/assembly facility to Washington County from Pennsylvania. Click here for more.
Helping Maryland businesses grow
The Division of Regional Development, led by Assistant Secretary Dominick Murray, worked to educate and inform Maryland businesses about the Maryland Rural Broadband Initiative, which will provide businesses throughout the Eastern and Western Shores access to reasonably priced broadband service. Regional Development also worked with the Allegany County Economic Development Office and a group of local investors to assist with the development of the Allegany Business Center at Frostburg State University and provided technical assistance to help Charles County move the Kelson Ridge Power Plant project forward. Click here for more.
On the frontlines of BRAC
Director Mike Hayes and his team provided resources to assist in the design and implementation of the State’s first BRAC Sub-cabinet, helped obtain more than $4 million in Department of Defense Community Planning Assistance funds and Office of Economic Adjustment funds for DBED and its sister agencies, and provided more than 75 educational briefings and presentations for key stakeholders, the media and the general public. Click here for more.
Improving our fan base
Assistant Secretary of Tourism, Film and the Arts Hannah Byron led a division that
launched Insights, a bi-weekly electronic newsletter distributed to 1,200 partners in cultural, tourism, heritage, business and creative industries. The Maryland Film Office welcomed and supported the cast and crew of Step Up 2, which has a projected economic impact of $30 million. Coordinated by the Office of Tourism, the Governor’s Executive Order created the Maryland War of 1812 Bicentennial Commission to plan a major statewide commemoration in 2012-2014. And last but not least, the State Arts Council hosted the 40th anniversary of the National Assembly of State Arts Agencies and welcomed 450 representatives from all 50 states. Click here for more.
Growing Maryland's small businesses
Under the leadership of Assistant Secretary Sam Lloyd, DBED created the Division of Small Business and restructured and refocused staff and resources to better support the creation, survival and growth of Maryland’s small businesses. One of their many accomplishments included partnering with the Office of Military & Federal Affairs and the Governor’s Office of Minority Affairs to fund a study aimed at determining opportunities for small and minority businesses through contracting and business development. Click here for more.
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