Archives For Maryland Economy

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Amid the hustle of holiday shopping, don’t forget the deals and unique offerings available in your own neighborhood. Small Business Saturday celebrates the entrepreneurs powering Maryland’s economy.

Show off your Small Business Saturday steals on Twitter at #ShopSmall @MDBizContinue Reading…

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The Regional Economic Studies Institute spotlighted the importance of STEM training and jobs during its annual Economic Outlook Conference.

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Dr. Daraius Irani, Executive Director of the Regional Economic Studies Institute presents during the annual Economic Outlook Conference on Nov. 17.

As Maryland continues to grow its economy and recover from the Great Recession, it leads the nation in an important industry sector: science, technology, engineering and mathematics (STEM).

Dr. Daraius Irani, Executive Director of the Regional Economic Studies Institute (RESI), reflected on the importance of STEM training and jobs during the annual Economic Outlook Conference (EOC) on Monday.

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DBED Secretary Dominick Murray lead a delegation of eight Maryland medical companies at MEDICA in Germany.

DBED Secretary Dominick Murray lead a delegation of eight Maryland medical companies at MEDICA in Germany.

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Caroline County, one of Maryland’s smallest and most rural counties, anticipates significant economic expansion over the next five years. Its blueprint for growth can be found in the recently released “Strategic Plan for Economic Development.”

Business leaders and residents have already responded to the plan with “energy and excitement,” according to Angela Visintainer, Director of Economic Development of the Caroline Economic Development Corporation (CEDC).

“We hope that going through this process might inspire other Maryland counties to develop their own strategic plans,” Visintainer said.

In speaking with MDBIZ News, Visintainer focused on five key aspects that led to the strategic plan’s successful creation, including the following:

Consulting the experts

  • Having not created a strategic plan in several years, Visintainer’s team brought a respected expert in economic development strategies on board. The CEDC hired Anirban Basu, Chairman and CEO of Sage Policy Group, Inc., to conduct data analysis on the county’s past and current economic conditions. Afterward, he coordinated focus groups with a team of 20 business leaders. They offered their perspectives and provided recommendations on improving the business climate. “Involving as many people as you can early in the process is important,” Visintainer said. From this data, she formed specific objectives as the framework of the strategic plan. 

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Oyster farming is booming in Maryland. Photo courtesy Maryland Seafood.

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3dPrinting ECBC

Image courtesy of the U.S. Army’s Edgewood Chemical Biological Center.

Two Maryland companies are tapping new 3D manufacturing resources by partnering with local federal facilities.

Integrata Security and RPM Tech have each entered cooperative agreements through the Northeastern Maryland Additive Manufacturing Innovation Authority (NMAMIA) to expand their 3D prototyping capabilities.

Integrata will be working with the Edgewood Chemical Biological Center (ECBC) to manufacture a new casing for a cybersecurity product. The partnership will allow the Baltimore-based security company to quickly create 3D-printed prototypes and enhance the overall quality of its products.

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ExportMD Grants are supporting Maryland firms at the upcoming MEDICA conference in Germany, according to DBED international trade expert Signe Pringle. Credit MEDICA 2013

ExportMD Grants are supporting Maryland firms at the upcoming MEDICA conference in Germany, according to DBED international trade expert Signe Pringle.

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Maryland business successes:

IMC awards

The InvestMaryland Challenge returns for its third year. Applications are due by December 12th!

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PA industrial park Somerset County is expanding broadband service with help from a $65,000 grant from the Maryland Department of Business and Economic Development (DBED), Lt. Governor Anthony Brown today announced.

The funding, provided by DBED’s Maryland Economic Development Assistance Authority and Fund (MEDAAF), will be used to install fiber optics throughout the Princess Anne Industrial Park.

The U.S. Department of Agriculture (USDA) will assist with the broadband expansion by contributing $137,000. The Maryland Broadband Cooperative will supervise the installation while providing labor, equipment, materials and testing throughout the park.

“Investments in broadband expansion translate into additional opportunities for Marylanders and continued economic growth,” said Lt. Governor Brown. “We’re committed to making investments like this one a priority to ensure cyber infrastructure is in place and available to businesses and Maryland families in every part of our state.” Continue Reading…

Ever wonder which states are considered the richest or poorest? According to a new report, Maryland is considered one of the top.

A new study by WalletHub.com – a social media company aimed at encouraging customers to make smarter financial decisions – has ranked Maryland as the third wealthiest state. Overall, Washington, DC and New Jersey tied for first place, while Connecticut tied for third.

WalletHub ranks 2014's richest and poorest states. Photo courtesy of WalletHub.

WalletHub ranks 2014′s richest and poorest states. Photo courtesy of WalletHub.

WalletHub researched three key statistics, taken from the U.S. Bureau of Economic Analysis, the U.S. Census Bureau, and the U.S. Internal Revenue Service to determine the rankings. In addition to ranking third wealthiest overall, Maryland placed first in “income,” 11th in “GDP per capita,” and 14th in “federal taxes paid per capita.”

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