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Business Pulse - Monitoring Maryland's Business Beat

Md. welcomes 36 million travelers in 2013
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Salsa Labs receives $1M investment
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Rockville nanomedicine company receives $400K
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100 day hiring challenge “Operation Hire” begins

On June 1, Gov. Martin O'Malley kicked off Operation Hire, the State's 100 day veteran hiring challenge. Running through September 9, Operation Hire encourages private businesses and federal, state, and local agencies to participate by incorporating or expanding veteran hiring practices. For 100 days, the Maryland Department of Veterans Affairs will track participants and hiring statistics, and will honor those for their efforts in the fall. This initiative supports the O'Malley-Brown Administration's goal of full employment for veterans by the end of 2015. To register or find out more information, visit the Maryland Department of Veterans Affairs.

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ADVANCE Maryland: economic gardening in the state
Applications are now being accepted for ADVANCE Maryland, a program designed to help second-stage companies discover new opportunities. Led by DBED and the Economic Alliance of Greater Baltimore in partnership with the National Center for Economic Gardening, the program follows a "grow from within" strategy and helps businesses reach their next phase of growth and development. ADVANCE Maryland provides companies with extensive research and strategic planning to increase jobs, revenue, and customer base. Companies looking to apply must submit an application by June 27. For more information and eligibility criteria, please visit DBED's website.

Len Moodispaw, President and CEO of KeyW Corporation co-heads the Cybersecurity Roundtable
Md. officials announce Cybersecurity Roundtable
U.S. Senator Barbara Mikulski and Governor Martin O'Malley recently announced the launch of the Maryland Cybersecurity Roundtable. The roundtable will provide a forum for discussion among cyber companies, state agencies, military personnel, and others in the cybersecurity sector. The industry-led roundtable is run by an executive committee, headed by Len Moodispaw (left), President and CEO of KeyW Corporation, and Jeffrey Wells, DBED's Executive Director of Cyber Development. The non-profit organization was created after recommendations from the Federal Facilities Advisory Board, led by Chairman Kevin Kelly.

CEO and co-founder Lawrence Tamarkin. Photo credit:
Rockville nanomedicine company receives $400K
DBED and the Montgomery County Department of Economic Development have invested $400,000 in CytImmune Sciences Inc. A financing round was led through the Maryland Venture Fund, investing $200K, with DED and a corporate venture fund investing an additional $200K. Co-founded by CEO Lawrence Tamarkin (left) in 1988, CytImmune focuses on revolutionizing cancer treatment through the discovery and development of tumor-targeted therapies. The company has become a global leader in nanomedicine and previously received $500K from DBED to fund the development of the drug Aurimune.

Ocean City, MD
Maryland welcomes 36 million travelers in 2013
Maryland visitor numbers have increased 33 percent since 2007, the Maryland Office of Tourism Development announced last week. A recent survey by D.K. Shifflet and Associates shows that in 2013, 36.1 million domestic travelers visited the state, compared to 27.2 million visitors in 2007. Additionally, 2013's totals show a 2.2 percent visitor increase since 2012. Maryland's visitor volume since 2007 exceeds the national increase of 17.2 percent, as well as performance totals from other mid-Atlantic states, showing that Maryland has experienced the most growth in the region.

Salsa Labs receives $1M investment, plans move to Maryland
The Maryland Venture Fund made its largest initial investment to date – $1 million in Salsa Labs, a marketing software provider for nonprofits. With locations in Virginia and Washington DC, the company has committed to moving its current offices and 50 employees to a location in Bethesda. The marketing software is used by more than 2,000 organizations and 15,000 campaign managers, with clients such as Aid for Africa, Families USA, and Campaign for Tobacco-Free Kids. Nonprofit clients have raised more than $280 million for causes using Salsa Labs' product.

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Economic Snapshot
  • Maryland gains 9,300 Jobs in April.
  • Maryland April unemployment rate is 5.6%.
  • Four Maryland-based companies made the 2014 Forbes 500 list.
  • Maryland ranks 1st for highest concentration of employed doctoral scientists and engineers.
  • Baltimore ranks 10th for cities creating the most technology jobs.
  • Baltimore/Washington DC ranks 2nd for highest paying cities for technology jobs.

Featured Event

CyberMaryland 2014
October 29-30 | Baltimore

Save the date! The CyberMaryland Conference returns this October to the Baltimore Convention Center. Join entrepreneurs, academia, government, and investors at the annual event, including an innovator showcase, job fair, and awards dinner. Learn more.

Secondary event
Contract Connections: Defense Labs Technology Transfer
September 15 | Linthicum Heights
Based around commercial development for Maryland's military labs, hear from two panels at Contract Connections on computer and life sciences, while a technology showcase allows inventors to present their own commercial product ideas. Learn more.
Secondary event
Fort Meade Alliance Annual Meeting
June 11 | Linthicum

Join the Fort Meade Alliance for its 10-year anniversary celebration at the annual meeting. FMA's President Deon Viergutz will address the attendees at the upcoming gathering, hosted at The Westin BWI Hotel. Learn more.

Bonus Bulletins

+ 28 EARN Maryland Workforce Training Initiative grants awarded
+ Major food distributor to create 150 Maryland jobs
+ Video: InvestMaryland Challenge boosts entrepreneurial innovation
+ Maryland, Baltimore City to fund small business loan program
+ Maryland manufacturer: Exporting rescued company from recession
+ TreeHouse Foods plans $6M investment on Maryland's Eastern Shore

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