Archives For Maryland Economy

BWI

BWI services roughly 60,000 travelers per day.

Few states can compete with Maryland’s diverse transportation network. Whether your business relies on the movement of people, products or both, Maryland has the resources to address your needs. The State, including the Maryland Department of Business and Economic Development (DBED), is also working to grow its world-class infrastructure and create new construction jobs.

Several transportation facilities are adding value and attracting new companies across the State, including the following.

The Port of Baltimore 

  • The Port of Baltimore is one of only two Eastern ports in the United States where the main shipping channel reaches a depth of 50 feet and a width of 800 feet. With the recent construction of a 50-foot container berth and four super-post-Panamax cargo cranes, the facility can now service some of the largest container ships in the world. The port’s convenient location is connected to six interstate highways, including the East Coast’s major thoroughfare, the Interstate 95 system and two Class I rail lines. The port also recently recorded record-breaking cargo hauls and is servicing more cruise ship passengers than ever.

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Maryland business successes:

The Port of Baltimore is a major asset for Maryland exporters.

Over a dozen Maryland companies have earned ExportMD grants to support their expansion in foreign markets, Maryland Department of Business and Economic Development (DBED) Secretary Dominick Murray announced this week.

DBED awarded grants to 15 small and mid-sized companies this month alone. Since 2011, DBED has awarded a total of 115 grants. The program provides matching grants that are capped at $5,000, as well as up to 40 hours of marketing consulting from DBED’s Office of International Trade and Investment. The ExportMD grant program plays a key role in furthering Governor Martin O’Malley’s Maryland Export Initiative, in line with President Barack Obama’s National Export Initiative. The next bimonthly ExportMD application deadline is scheduled for Oct. 1.

“In today’s competitive global economy—with 95 percent of the world’s consumers residing outside of the United States—businesses of all sizes need to think about innovative ways to tap into new opportunities for growth,” said Secretary Murray. “Making the move to expand internationally can be that much easier with the funding and expert assistance ExportMD Program offers.” Continue Reading…

Catch up on the latest Maryland business news.

Maryland business successes:

  • Take a moment this week to cast you vote for the winners of the 2nd annual Baltimore Innovation Awards. Learn more about the awards on Technical.ly Baltimore.
  • Congratulations to the six Maryland companies in Black Enterprise’s ranking of the nation’s 100 largest black-owned businesses, including Radio One Inc., Adams Communication & Engineering Technology Inc., TV One LLC, Health Resources Inc., K. Neal International Trucks Inc. and Systems Application and Technologies Inc.
  • The Daily Record profiles Maryland’s fastest-growing private company, Team Extreme Marketing.
  • Congratulations to Bethesda-based Lockheed Martin Information Systems & Global Solutions and Maddrix, LLC, a startup cybersecurity firm in Baltimore, on earning Cyber Incident Response Assistance accreditation from the National Security Agency Information Assurance Directorate, MDBIZ News reports.
  • Pete Pappas & Sons has moved from Washington, D.C. to Maryland and plans to hire 70 new workers, thanks to assistance from the Maryland Department of Business and Economic Development, MDBIZ News reports.

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Just because you’ve started your own company doesn’t mean you’re in it alone.

The Maryland Technology Development Corporation (TEDCO) is urging Maryland entrepreneurs to take advantage of the State’s growing startup community. On Nov. 12 at the BWI Airport Marriott in Linthicum Heights, TEDCO will host its fourth annual Entrepreneur Expo, “E2E: Entrepreneurs Inspiring Entrepreneurs.” Registration is now open online.

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Horseshoe Casino opened in Baltimore City with fanfare and the promise of new economic growth.

Catch up on the latest Maryland business news.

Maryland business successes:

  • Horseshoe Casino opened in Baltimore City with fanfare and the promise of new economic growth. Half of its employees are local residents, according to the Baltimore Business Journal.
  • Maryland’s tourism industry may see a higher-than-usual uptick this weekend. AAA Mid-Atlantic estimates that nearly 728,000 Marylanders will travel at least 50 miles away from home this Labor Day holiday, MDBIZ News reports.
  • Recently closed deals by the Maryland Department of Business and Economic Development have helped create 1,497 jobs and retain 1,214 other positions in July throughout the State, StateStat recorded.
  • The State’s largest organic farm will be restored in Anne Arundel County, thanks to a public-private partnership, according to the Capital Gazette.

Maryland business resources:

Dr. Karen Zeller, research associate and instructor at the Johns Hopkins University School of Medicine, speaks to students about synthetic biology at Westminster High School. Photo courtesy Maryland Business Roundtable for Education

Dr. Karen Zeller, research associate and instructor at the Johns Hopkins University School of Medicine, speaks to students about synthetic biology at Westminster High School. Photo courtesy Maryland Business Roundtable for Education

As Maryland students return to school, a growing number of professionals are also finding themselves back in the classroom. The Maryland Business Roundtable for Education (MBRT), a nonprofit coalition of employers, is continuing its award-winning Maryland Scholars Speakers Bureau and STEM Specialists in the Classroom programs, and is recruiting new volunteers for the 2014-15 school year.

MBRT’s Maryland Scholars Speakers Bureau includes volunteers of various backgrounds and professions who speak with students on the connection between educational achievement and workplace success. The STEM Specialists in the Classroom program offers professionals from science, technology, engineering and math fields, federal agencies and higher education the opportunity to co-teach lessons illustrating the real-world application of STEM skills.

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Lockheed Martin has secured a U.S. Defense Department contract to develop its exoskeleton technology. Photo courtesy of Lockheed Martin

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Maryland business successes:

Maryland of OpportunityA series of reports and analyses have recently examined the apparent wage stagnation phenomenon in the United States. The concern over wages comes amid robust employment growth nationally, where the economy has added 1.6 million jobs in the first seven months of the year. Unemployment rates have fallen across the states while the national rate fell to 6.2 percent in July, the lowest it had been since September 2008. The fall in the unemployment rate would supposedly lead to an uptick in average wages due to increased demand for labor; however, private non-farm weekly earnings since June 2013 have grown on average by only 1.96 percent, while inflation over the same period stood at 1.6 percent.

Amid job expansion, slow wage growth, among other things, signals some slack in labor markets. This is of particular concern for Federal Reserve Chair Janet Yellen, who addressed lawmakers on July 15 and spoke on the issue. The subject of wages represents a challenge for the Fed, especially over the issues of how much longer the economy needs to be stimulated and when to raise interest rates which have been kept near zero for a long time. The Federal Reserve maintains that slow wage growth is mostly due to cyclical forces in a slow recovery.

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The Star-Spangled Spectacular, with events beginning in September, revved up this week with singing, fireworks and Governor Martin O'Malley.

The Star-Spangled Spectacular, with events beginning in September, revved up this week with singing, fireworks and Governor Martin O’Malley.

Catch up on the latest Maryland business news.

Maryland business successes:

  • Baltimore’s NV3 is working to make it easier to charge your phone while you’re on the go. Learn more on MDBIZ News.
  • Maryland’s casinos are growing in popularity and revenue. During this last fiscal year, they generated $849 million, WBAL reports.
  • Johns Hopkins University’s tech transfer office and the Maryland Innovation Initiative have helped a pair’s biomedical researchers develop AsclepiX Therapeutics, the Baltimore Business Journal reports.
  • Who will protect your network from next-generation malware attacks? Consider Rockville-based Triumphant. The company is planning to expand following a $750,000 Maryland Venture Fund investment, MDBIZ News reports.
  • The Maryland Venture Fund continued its support of Maryland’s cybersecurity industry with a $451,000 follow-on investment in Luminal. Learn more about their innovative cloud security solutions on MDBIZ News.
  • Two Maryland-based companies, Lockheed Martin Information Systems & Global Solutions and Maddrix, LLC, earned accreditation in the pilot National Security Cyber Assistance Program. Only seven companies across the nation received the honor, following a positive assessment in 21 critical focus areas of Cyber Incident Response Assistance.

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The Federal Reserve Bank of Richmond released its Maryland Survey of Business Activity for July, showing some record positive trends in business conditions in the State. The monthly survey provides information on overall business activity, including sales, investment in new equipment, software and inventories. Survey respondents also provide information on employment trends, wages, business costs and prices. Results are published using diffusion index—a measure of how spread out the change is in activity among respondents. A large index number, either positive or negative, indicates that change is greater, while numbers closer to zero show little change in activity.

The July survey results revealed that both general business conditions and sales indexes at 39 and 27, respectively, were the highest since the survey began in 2007, continuing on a six-month trend of solid readings in double digits. The average index of 23 for business conditions, over the last six months, is a major improvement compared with the previous period which averaged an index of negative 2. Business spending on services jumped five points from last month to an index of 16, while business spending on equipment or software increased by 11 points to 37—a sign of solid growth in business investments.

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BWI air travel

Baltimore/Washington International Thurgood Marshall Airport was selected as a winner in Government Security News magazine’s 2014 Airport / Seaport / Border Security Awards Program.

Two of Maryland’s busiest points of commerce have been named leaders in national security. Governor Martin O’Malley announced Tuesday. Baltimore/Washington International Thurgood Marshall Airport and the Port of Baltimore were selected as winners in Government Security News magazine’s 2014 Airport / Seaport / Border Security Awards Program.

Recent national security advances at the airport include an automated dispatching system, mobile dispatching equipment in all first responder vehicles, an emergency call processing system, a fire station alerting system, a detailed mapping of the BWI Marshall facilities with emergency apparatus GPS tracking, and a new back-up dispatch center. The airport earned two first-place awards in the competition, including Most Notable Airport Security Program, Large Airports and Best Physical Security Information Management System.

“This highly successful project provided our security and public safety personnel with cutting-edge emergency response technology,” said Paul J. Wiedefeld, CEO of BWI Marsh

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