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5 MD public colleges among nation's “Best Values.”
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Upscale retailer plans $65M Cecil distribution center.
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Solar Energy World doubled revenues in 2011.
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Exelon/Constellation Settlement Could Bring $1B in Investments, 6,000 Jobs
Gov. O’Malley announced that the State of Maryland and Maryland Energy Administration reached a settlement with Exelon Corporation, Constellation Energy, and Baltimore Gas and Electric. Exelon’s investment represents a four-fold increase over their initial merger proposal, from $270 million to more than $1 billion; a substantial increase in new energy generation, including solar and wind, from 25 megawatts to 285-300 megawatts; and more than twice the job creation, from 2,440 to 6,000+. Maryland regulators will decide on the $7.9 billion merger by Feb. 17.
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Five MD Colleges Among Nation’s “Best Values”
Five Maryland public colleges were listed among the nation’s top 100 Best Values by Kiplinger’s. The University of Maryland, College Park, ranked No. 8 for in-state students and No. 10 for out-of-state students (pictured left). Others on the list included St. Mary's College of Maryland (42nd in-state / 35th out-of-state); Salisbury University (71st / 53rd); Towson University (76th / 81st), and the University of Maryland, Baltimore County (84th / 63rd). Making education affordable is a key initiative of the O’Malley administration, which had a four year freeze on tuition for public universities.
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Upscale Retailer Plans $65M Distribution Center
Restoration Hardware will create about 150 new jobs in Cecil County after signing a 15-year-lease on 1.2 million square feet of warehouse space, one of the largest 2011industrial leases signed in the U.S. The California-based upscale home furnishings retailer with nearly 100 stores in North America invested an estimated $65 million for the East Coast furniture distribution center at the 32-acre Trade Center 95. Led by co-CEO Gary Friedman (left), Restoration will move into 600,000 SF this month and build an adjacent 600,000 SF warehouse by fall 2012.
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Pharm. Co. Spending $20M to Triple Shore Space
Jubilant Cadista Pharmaceuticals in Wicomico County plans to increase its investment on the Eastern Shore, investing $20 million to triple its Eastern Shore warehouse space and add new jobs. Jubilant Life Sciences’ Salisbury branch grew its workforce from 25 in 2005 to 240 in 2011 and increased sales from $3 million to $42 million during that same period. The pharmaceutical manufacturer is one of several companies that participated in Maryland’s recent trade mission to India.
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State Gears up for InvestMaryland
Gearing up for the $70 million InvestMaryland initiative, the state selected tax auction consultants Grant Street Group to oversee and administer the auction of the State’s premium tax credits to Maryland insurance companies. The funds will be invested into promising start-up and early stage companies, creating the largest venture capital investment in the state’s history with the potential to generate thousands of jobs in innovation economy sectors. DBED will begin accepting Tax Credit applications on February 1. Click here to learn more.
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Two Green Firms Double Revenues, Employees
Howard County’s Solar Energy World reported that it doubled revenues in 2011 and added 40 jobs to the local economy. The Elkridge-based company is a leading installer of commercial and residential solar photovoltaic systems and solar hot water systems. SemaConnect plans to add at least another 10 employees in Anne Arundel County during the next year, doubling its current size. The Annapolis-based maker of vehicle charging stations is confident in the projected growth of the electric-vehicle industry.
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