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Welcome to Business Pulse, a new e-newsletter from the Maryland Department of Business and Economic Development (DBED) designed to keep you updated on the Department's many efforts to attract and grow Maryland businesses, create jobs and expand the State's economy.
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A Message from the Secretary
 I am both excited and humbled in accepting Governor Martin O'Malley's appointment to lead DBED. In these challenging economic times, the Department's business development mission is more crucial to the State's economic health today than ever before. One of my first orders of business was to tap Dominick Murray for the Deputy Secretary post and together, we have identified four short-term priorities for the department:
- Restore business confidence
- Reestablish DBED as the voice of Maryland business
- Build on core strengths and leverage our federal, scientific, medical, and university assets
- Link Maryland businesses with opportunities from the American Recovery and Reinvestment Act
While there is no silver bullet for economic growth in a recession, I am convinced these new priorities will set us on the right course to establishing Maryland as a knowledge economy powerhouse. |
60 new jobs coming to Eastern Shore
Power Electronics moves operations from Delaware
Governor Martin O'Malley recently announced that Delaware-based Power Electronics, Inc. is moving its operations to Millington in Queen Anne's County. The company, which designs and manufactures metal structures that house the protection and control equipment for substations, plans to create 60 new jobs over the next two years. The decision to relocate to Maryland speaks to the quality of Maryland's Eastern Shore workforce and is a great example of the good things that can happen when State and local governments leverage their resources and work together to create jobs. For more information, click here. |
DHCD launches new MBE program
Did you know there's a new program to assist small minority businesses?  The Maryland Linked Deposit Program is a new, statewide initiative designed to stimulate opportunities for certified Minority Business Enterprises (MBEs) by reducing the interest rate on loans they obtain from participating banks. Click here for more information. |
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Business Pulse is published by the Maryland Department of Business and Economic Development. For a complete  archive, visit our Publications page.
Martin O'Malley, Governor
Anthony G. Brown, Lt. Governor
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IB bringing 100 jobs to Maryland
Education, workforce keys to decision
Last week, Governor Martin O'Malley announced that International Baccalaureate (IB) has selected Maryland as the location of its new global center for the IB Americas region. The new center in Montgomery  County will have more than 100 employees who will manage operations and assessment for schools in 28 countries and territories in the Americas. Maryland's reputation as a national leader in education, combined with its highly-educated workforce, diverse cultural community and strategic location were among the reasons IB chose Maryland for its global center.
Click here for more information. |
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DBED links businesses to stimulus funds
Governor launches interactive Web site to track progress
Under the leadership of Governor Martin O'Malley, DBED will play a central role in promoting and communicating President Barack Obama's American Recovery and Reinvestment Act to Maryland businesses and contractors. The plan includes approximately $3.8 billion for Maryland  and is estimated to create or retain up to 66,000 jobs, helping to stabilize Maryland's economy and rebuild its economic infrastructure.
Last week, Governor O'Malley launched an interactive online Web site, www.recovery.maryland.gov, to provide the information and tools necessary to track the statewide progress of Maryland's Recovery and Reinvestment plan. DBED is also designing a contractor outreach and education plan and a new business alliance program to promote stimulus opportunities to Maryland businesses. Click here for more information. |
Maryland continues to grow globally
Exports reach record-high $11.4 billion; 14 companies set up offices in past 10 months
Following an aggressive year-long outreach effort to attract more foreign companies to Maryland and market Maryland products internationally, Governor O'Malley announced that Maryland exports climbed to a record high of $11.4 billion in 2008, up 27 percent from the previous year and more than double the nation's 12 percent export growth rate.
Adding to these efforts, 14 companies from Israel, Russia and various countries in Europe and Asia have set up offices in the State in the past 10 months. The companies are expected to create up to 250 new jobs over the next few years as their U.S. operations ramp up. |
World Stem Cell Summit Coming to Baltimore
 The 2009 World Stem Cell Summit will be held in Baltimore on September 21-23. The Summit is the preeminent gathering for the global stem cell community and brings together the world's finest researchers, industry leaders, policy-makers, regulators, patient advocates, legal experts, investors and philanthropists to illuminate the critical issues and together chart the future of regenerative medicine.
For up-to-date Summit news, information and a listing of special events, click here. |
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