Archives For Maryland Economy

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.

Catch up on the latest Maryland business news.

Maryland business successes:

IMC awards

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

Catch up on the latest Maryland business news.

Maryland business successes:

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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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manufacturing photoFind additional coverage, celebrating the State’s industrial heritage and today’s innovators, during Maryland Manufacturing Month. 

Amid the recent release of the Maryland Advanced Manufacturing Survey and today’s first-ever Baltimore Manufacturing Forum, the industry is preparing for a resurgence throughout the State.

Survey results show that more than 60 percent of Maryland manufacturers anticipate an increase in sales within the next 12 months.

According to Maryland Department of Business and Economic Development (DBED) Secretary Dominick Murray, “The face of manufacturing is changing in Maryland, but the industry is–and has always been–a pillar of Maryland’s economy.”

The State now has a ”roadmap for moving the industry forward,” he said.

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ProximityGraphic (1)Mobile System 7 is a data system security provider. Luminal provides cloud computing protection. Pete Pappas & Sons packages and wholesales produce.

What do they have in common?

Each company moved to Maryland within the past year, from Virginia, West Virginia and Washington, D.C. respectively.

For these businesses, and several others in recent years, moving to Maryland represented a conscious decision to take advantage of State resources and incentives. Find below a roundup of reasons why businesses are flocking to Maryland.  Continue Reading…

Find additional coverage, celebrating the State’s industrial heritage and today’s innovators, during Maryland Manufacturing Month. 

Maryland’s manufacturing firms play a crucial role in the State’s economy, employing over 100,000 workers and generating over $20 billion, according to a new survey and report from the Maryland Department of Business and Economic Development (DBED).

DBED Secretary Murray released the Maryland Advanced Manufacturing Survey in conjunction with Maryland Manufacturing Day and Edgewood-based Smiths Detection‘s first-ever Industry Day celebration.
A worker installs slot liner paper at the General Motors Baltimore Operations facility. Photo courtesy General Motors

A worker installs slot liner paper at the General Motors Baltimore Operations facility. Photo courtesy General Motors

Catch up on the latest Maryland business news.

Maryland business successes:

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Despite industry challenges, the data show signs of growth for Maryland’s advanced manufacturers.

Find additional coverage, celebrating the State’s industrial heritage and today’s innovators, during Maryland Manufacturing Month. 

How are Maryland manufacturers faring in today’s economy?

To find the answer, the Maryland Department of Business and Economic Development (DBED) enlisted the help of the Schaefer Center for Public Policy at the University of Baltimore. Over the course of a year, teams designed and executed an extensive survey. Between November 2013 and March 2014, researchers made 16,518 calls to 4,457 manufacturing establishments of all types across the State.

The Maryland Advanced Manufacturing Survey illustrates the current condition of the manufacturing sector in Maryland, with a focus on advanced manufacturing activities. Overall, despite industry challenges, the data show signs of growth for the State’s advanced manufacturers, which tend to use cutting-edge technology and are more likely to export their goods.

This survey represents the first time that DBED has collected information on advanced manufacturing activities in Maryland. DBED will use the findings from this survey to help formulate approaches to the industry and policies that can support its success in the future.

Survey results are being released in conjunction with National Manufacturing Day and Maryland Manufacturing Month.

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Find additional coverage, celebrating the State’s industrial heritage and today’s innovators, during Maryland Manufacturing Month. 

Since 1906, Pompeian, Inc. has thrived in Baltimore City, becoming America’s largest importer and producer of olive oil—but the company has never forgotten its hometown roots. This fall, Pompeian plans to give back to the community by hosting the State’s first full Maryland Manufacturing Boot Camp, an initiative of the EARN (Employment Advancement Right Now) Maryland program. Continue Reading…

economic gardening

National Center for Economic Gardening

Five companies—ranging from a parking reservation app to a biotechnology compliance firm—graduated from the first-ever Advance Maryland program last year. Through coaching and exclusive resources, the initiative helped launch the cohort of second-stage companies even closer to their goals.

In its second year, Advance Maryland has selected an additional eight companies to participate in “economic gardening” activities, Governor Martin O’Malley, Lt. Governor Anthony Brown and the Maryland Department of Business and Economic Development (DBED) Secretary Dominick Murray announced this week.   Continue Reading…

Hundreds of thousands of beauty products will travel from bins to boxes to customers from a new distribution facility in Perryman, Maryland. As one of the nation’s leading sellers of makeup, cosmetics and skincare, Sephora was seeking a new space to expand its inventory and workforce. Following a lengthy acquisition process, involving support from the Maryland Department of Business and Economic Development (DBED) and Harford County, the company cut the ribbon to its new facility last week.

Sephora, which has operated in Harford County since 2005, has upgraded to a 650,000 square-foot facility which will be used to fulfill online orders and retail shipments. The facility will retain its 410 employees and plans to add an additional 200 full-time jobs by December 2017. DBED contributed a $1 million grant, which will be paid out according to performance benchmarks. Harford County government also contributed economic development services to streamline the acquisition process.

Sephora President and CEO Calvin McDonald lauded Maryland’s workforce as “winners.”

“We could never have produced this if not for so many teams and so many people working together … it’s the people that truly make it work,” McDonald said. Continue Reading…