Maryland Department of Commerce 2024 Annual Report

A Message From the Secretary

Dear Friends and Partners,

I’m pleased to present the Maryland Department of Commerce’s Fiscal Year 2024 Annual Report, which details another exciting year in our agency’s efforts to attract and retain new investment, help create new jobs, support business growth and make our state’s economy stronger.

Under the leadership of Governor Moore and Lieutenant Governor Miller, Commerce has focused on making our state more competitive, robust, and equitable, seizing every opportunity that comes our way and making this “Maryland’s Decade.”

We welcomed new employers to Maryland, like Conair in Washington County, Rocket Lab in Baltimore County and Blink Charging in Prince George’s County; and celebrated expanding businesses like BlueHalo and AstraZeneca in Montgomery County, EVAPCO in Carroll County and Early Charm in Baltimore City.

The announcement that Baltimore has been designated a federal Tech Hub specializing in predictive health care opens the door to millions of dollars in potential new funding. We are also very excited by the news that the Capital Region has been named a Top 3 biopharma cluster — a major victory for Maryland’s thriving life sciences industry.

From long-awaited wins, like the selection of Prince George’s County to be the new home of the FBI, to our response to unexpected challenges, like the tragic collapse of the Francis Scott Key Bridge and launching bold new initiatives like the Build Our Future Grant Pilot Program, I could not be more proud of how the Commerce team has risen to meet each new opportunity and challenge.

This department’s commitment to economic development and to Maryland’s business community is unparalleled.

I can’t wait to see what we do next.

Kevin Anderson Secretary

Rocket Lab expanding in Middle River, MD to establish a Space Structures Complex for the manufacture of composite products for spacecraft and rockets in the former Lockheed Martin facility.

Signature Projects Putting Maryland to Work

The Maryland Department of Commerce works every day to promote the state as a great place to do business, and in FY24 the message rang loud and clear. Established Maryland businesses like AstraZeneca chose to expand their Rockville footprint to the tune of a $300 million expansion with 150 new high-paying jobs. New private partners included Conair, which will open a $75 million facility in Hagerstown expected to create 700 new jobs. And after a 12-year campaign that saw Maryland pitted against regional rivals in an intense, complex competition, the U.S. General Services Administration selected Greenbelt as future home of the FBI — a $3.5 billion program expected to bring more than 7,500 jobs to the state. With dedication and diligence, Commerce is doing the hard work to make sure Maryland continues to win the decade.

Gov. Moore Announces Early Charm Expansion Bringing New Jobs to Baltimore City

In August of 2023, Early Charm, a company that creates, owns and operates ventures that convert science to revenue, opened its new production shop in Baltimore City, where it plans to create 115 new jobs over the next four years. The company leased more than 26,000 square feet in Baltimore’s Pigtown neighborhood, where it will grow its custom manufacturing operations for advanced materials while also supporting the addition of 30 new ventures. “We are excited to support Early Charm’s reinvestment in Baltimore City, where more than a hundred jobs will soon be added to the Pigtown community,” said Gov. Wes Moore. “Investing in this new facility will allow Early Charm to continue growing its portfolio, boost manufacturing in local industry and make Maryland even more competitive.”

To assist with project costs, the Maryland Department of Commerce provided a $460,000 conditional loan through Advantage Maryland and the Baltimore Development Corporation provided a $100,000 conditional loan. “Maryland and its educational institutions are thriving with innovation,” said Maryland Department of Commerce Secretary Kevin Anderson, “and Early Charm is helping bring their ideas to life.”

Illva Saronno Holding S.p.A. to Move U.S. Headquarters to Baltimore Peninsula

In September of 2023 Illva Saronno Holding S.p.A, the company behind Disaronno Italian liqueurs, announced that it is moving its North American headquarters to Maryland. The company purchased a majority stake in Baltimore’s Sagamore Spirit, with plans to broaden its portfolio and expand the Maryland-made whiskey to new markets.

Signature Projects Putting Maryland to Work

The company will relocate its New Jersey headquarters to the Baltimore Peninsula, where the Sagamore Spirit distillery is located.

Conair to Add 750 New Washington County Jobs Supported by $75 Million Investment

Conair LLC — a leading developer, manufacturer and marketer of health and beauty products and kitchen appliances — is establishing a distribution center in Washington County. The company will lease approximately 2.1 million square feet at a soon-to-be-constructed facility in Hagerstown, which is expected to become the largest single distribution center in the state. “It’s very exciting to welcome a global company like Conair to Maryland,” said Gov. Moore. “Our state’s distribution and logistics industry continues to thrive as companies aim to reach customers in record time. Conair will see great success with this new facility and our dedicated local workforce.”

With this mid-Atlantic expansion, Conair will create approximately 700 new full-time jobs in Maryland over the next 10 years. To assist with project costs, the Maryland Department of Commerce is working on approving a $2 million conditional loan through Advantage Maryland. Washington County is planning to provide a $200,000 conditional loan to help Conair complete the project, pending approval from the Board of County Commissioners. The company is also eligible for various other incentives and tax credits, including the More Jobs for Marylanders program and the state’s Job Creation Tax Credit. “We are looking forward to this partnership, which will allow us to be more responsive to our customers’ needs,” said Conair Senior Vice President of Distribution and Logistics Dan Kochenash. “As we work together with the Maryland Department of Commerce, this operation provides us with a platform to improve service today and expand our business in the future.”

Maryland Chosen as New Home for $3.5 Billion FBI Headquarters

In November 2023, after a long, hard campaign that saw fierce competition from Virginia, the GSA announced Greenbelt would be the new home of the FBI. The Maryland Department of Commerce’s efforts to bring the FBI to Greenbelt began in 2012, and work continues on the generational project alongside partners including the Maryland Department of Transportation (MDOT), Prince George’s County, the City of Greenbelt, and the Washington Area Transit Authority (WMATA).

The new headquarters will be built on a 61-acre site adjacent to the Greenbelt Metro Station, and is projected to cost approximately $3.5 billion and bring more than 7,500 jobs to Prince George’s County. Greenbelt was selected after being scored highest on 4 out of 5 selection

Signature Projects Putting Maryland to Work

criteria, with the GSA noting that the site would: have the lowest overall cost to taxpayers; the most transit accessibility for FBI employees, contractors, visitors and partners; provide the greatest schedule certainty for completion of the project; and offer the greatest opportunity for federal investment to positively impact the region through sustainable, equitable development.

Gov. Moore lauded the selection as a win for Maryland and the nation, stating, “At a time when the current FBI building in Washington, D.C., is literally falling apart; at a time when incidents of hate crimes are growing here at home; at a time when the nature of national security is changing, with an increased focus on cybersecurity; at a time when access to affordable transit isn’t just a bonus, it’s a necessity for employees in the modern workforce — in this time and in this moment, there is no question. The FBI belongs in Maryland.”

Rocket Lab USA, Inc. Launches New Manufacturing Facility in Middle River

Rocket Lab USA Inc., a global leader in launch and space systems, will establish its new Space Structures Complex for the manufacture of spacecraft and rockets in the 113,000-square-foot former Lockheed Martin facility in Middle River. Founded in 2006, Rocket Lab is an endto-end space company with a headquarters in Long Beach, California; a launch site in Wallops, Virginia; and manufacturing facilities across the U.S. and Canada. The company provides satellite design and manufacturing, space software and components, and reliable launch services to a wide range of customers, including NASA, the U.S. Space Force, and the National Reconnaissance Office. Rocket Lab’s technology was also used in the James Webb Space Telescope, which was developed with help from the NASA Goddard Space Flight Center in Greenbelt, and is operated from the Space Telescope Science Institute in Baltimore. The facility will enable the development and manufacturing of carbon-composite spacecraft buses, structural panels and assemblies, satellite dispensers, aeroshell and heat shields, composite overwrap pressure vessels, solar panel substrates, launch vehicle structures and more.

“It is a great opportunity for us to assist with Rocket Lab’s entrance into Baltimore County,” said Secretary Anderson. “With our state’s close proximity to several federal and defense agencies, combined with Maryland’s abundance of talented tech and engineering workers, this facility is sure to bring much success to both Rocket Lab and Maryland’s innovative space industry.” The Space Structures Complex is expected to create 65 new high-paying jobs by the end of 2025.

Signature Projects Putting Maryland to Work

AstraZeneca to Build Cutting-Edge Manufacturing Facility in Rockville

On February 6, 2024, Gov.Moore announced that AstraZeneca, a global science-led biopharmaceutical company, will establish a new manufacturing facility in Maryland. The company is investing $300 million to build an 84,000-square-foot, state-of-the-art facility in Rockville, part of Montgomery County’s booming life sciences corridor, where it will launch its life-saving cell therapy platforms in the U.S. for critical cancer trials and future commercial supply. “AstraZeneca and the State of Maryland share a deep commitment to innovation. It makes us the perfect pairing for this next-generation cell therapy facility,” said Gov. Moore. “This significant investment in our life sciences sector will help maintain Maryland’s leadership in the industry and sharpen our competitive edge. We are deeply grateful for AstraZeneca’s partnership and continued commitment to our state.”

The new facility, which will initially focus on manufacturing CAR T-cell therapies to enable cancer clinical trials around the world, is expected to be fully operational in 2026. It will also lead to the recruitment of approximately 150 new employees in addition to the 4,500 AstraZeneca employees already working in Montgomery County. “We are incredibly excited that more than 150 new highly skilled jobs are being created to bring our scientific work and therapies to clinical trials which could transform the lives of patients around the world,” said AstraZeneca Executive Vice President of Global Operations & IT and Chief Sustainability Officer Pam Cheng. “This new $300 million investment will accelerate our ambition to make next-generation cell therapy a reality, ensuring that we are ready to scale and meet the demands of patients.”

To assist with project costs, the Maryland Department of Commerce is working to approve a $500,000 conditional loan through the Advantage Maryland program. Montgomery County is planning to provide a $100,000 conditional grant through its Economic Development Fund. The company is also eligible for various incentives, including the More Jobs for Marylanders program and the state’s Job Creation Tax Credit. “While Maryland’s pool of talented life science professionals continues to grow, so does the number of career opportunities in the industry. We are very grateful to AstraZeneca for planning to bring approximately 150 new jobs to Montgomery County over the next few years,” said Maryland Department of Commerce Secretary Kevin Anderson.

AstraZeneca and the State of Maryland share a deep commitment to innovation. It makes us the perfect pairing for this next-generation cell therapy facility.

Gov. Wes Moore

Signature Projects Putting Maryland to Work

EVAPCO Expands Carroll County Headquarters, Adds 275 New Jobs

EVAPCO Inc., a global designer and manufacturer of evaporative cooling and industrial refrigeration products, is expanding its Taneytown operations for the second time in a decade. Located in Carroll County, the manufacturer will add 45,000 square feet of office space to its headquarters over the next two years while creating 275 new jobs in Taneytown, bringing its total to more than 840 employees in the county. “EVAPCO has been one of Maryland’s powerhouse companies for decades, and its reach now extends across the globe,” said Gov. Moore. “We’re thrilled that the company will continue expanding and innovating in Carroll County, creating hundreds of new jobs and making Maryland more competitive.”

The Maryland Department of Commerce, to assist with project costs, has approved a $1.4 million conditional loan through Advantage Maryland. In addition, the state is providing a $200,000 grant through the Partnership for Workforce Quality program. EVAPCO is also eligible for various tax credits, including the More Jobs for Marylanders program and the state’s Job Creation Tax Credit. “EVAPCO had several options when considering where to expand. Fortunately, the state of Maryland, in conjunction with Carroll County Economic Development, provided programs such as Advantage Maryland and More Jobs for Marylanders, which led to our decision to expand in Taneytown,” said Senior Vice President of Global Operations Bill Jones. “As more companies are investing outside of the U.S., EVAPCO is proud to make this investment here in Maryland, especially in Carroll County.”

Blink Charging Moves to Maryland

Blink Charging, a leading global manufacturer of electric vehicle charging equipment, is relocating its headquarters from Miami to Maryland. The company’s new 15,000-square-foot global HQ will be accompanied by a new 30,000-square-foot manufacturing facility, both located in Prince George’s County’s Melford Town Center mixed-used business community, which was developed by MMP member St. John Properties Inc. “Blink Charging is proud and excited to be establishing our global headquarters and production facility in Maryland, marking a pivotal moment in our journey toward a greener future,” said Blink President and Chief Executive Officer Brendan Jones.

The production facility is expected to produce more than 50,000 charging units annually, creating more than 60 new clean-tech jobs in Bowie during the first year. “We are thrilled to welcome Blink’s headquarters to the Great State of Maryland. This decision doesn’t just affirm our commitment to climate action, it also supports our work to create new jobs and make Maryland more competitive,” said Gov. Moore.

Signature Projects Putting Maryland to Work

Pickleball Powerhouse JOOLA Moves Headquarters to North Bethesda

Growing rapidly, thanks to the national pickleball craze, pickleball and table tennis equipment and apparel manufacturer JOOLA is moving its corporate headquarters to a 35,000-square foot space in Federal Realty’s Pike & Rose development. In addition to the corporate headquarters, JOOLA is opening a first-of-its-kind concept retail location on the ground floor of the space. The move makes JOOLA the third major player to open a corporate headquarters in the new 16-story building, joining Sodexo and Choice Hotels and bringing the facility to nearly 80% occupancy.

The Maryland Department of Commerce has been working closely with the sporting goods giant and has helped facilitate the move and expansion with a $200,000 Advantage Maryland conditional loan, which is being augmented by a 10% match by Montgomery County in the form of a $20,000 conditional grant. JOOLA is also eligible for Maryland’s Job Creation Tax Credit as well as Montgomery County’s New Jobs Tax Credit.

BlueHalo Expanding with 200 New Maryland Jobs

BlueHalo, a company transforming the future of global defense, is expanding its Maryland operations with a new 57,000-square-foot research, development and manufacturing facility in Germantown. The new facility is part of an expansion creating 200 new high-quality, high-paying jobs throughout Montgomery, Anne Arundel and Howard counties, bringing its Maryland statewide employment to 600 workers. “We’re excited to grow our Maryland operations with expanded R&D and manufacturing capabilities,” said BlueHalo Chief Operating Officer Trip Ferguson. “This is made possible through our strong partnerships with Gov. Moore, the Maryland Department of Commerce, and Montgomery County officals, whose shared vision for a thriving defense industrial base made Maryland an easy choice for BlueHalo.”

BlueHalo plans to be operational at the new leased location by the end of 2024. To assist with project costs, the Maryland Department of Commerce is working to approve a $1 million conditional loan through Advantage Maryland, as well as a $50,000 grant through the Partnership for Workforce Quality program. Additionally, Montgomery County plans to provide a $100,000 conditional grant through its Economic Development Fund. “In Maryland, we will always choose to invest in innovation. Our continued partnership with BlueHalo is helping us do exactly that,” said Gov. Moore. “The historic expansion will create jobs, drive growth, and make Maryland more competitive. Our administration proudly supports BlueHalo’s work in Maryland, as they continue to develop cutting-edge strategies to keep us safe.”

Signature Projects Putting Maryland to Work

Mexico City Mexico

Bogotá Colombia

Maryland Foreign Offices

Wins from Around the World

It was a big year as Commerce opened its 19th International Trade Office; led seven delegations of Maryland companies to foreign trade shows, as well as Foreign Direct Investment (FDI) missions to Canada and Japan; led the largest ever Maryland delegation to SelectUSA in National Harbor Maryland, and, for the first time, covered all of Commerce’s targeted markets with lead-generating contracts driving a significant uptick in FDI engagements. But that was just the beginning, as the Commerce team traveled around the world building business connections, promoting Maryland products overseas and bringing global businesses back to Maryland.

Wins from Around the World

Maryland Opens 19th International Trade Office in Turkey

Maryland continues to grow its global footprint, opening its 19th international trade office in Istanbul, Turkey, in June 2024. As the world’s 19th-largest economy and with a population of more than 83 million, Turkey has a favorable geographical position, centrally located at the nexus of Europe and Asia; a young population; large middle class; and strong entrepreneurial spirit that positively impacts its investment climate. Establishing this new office will not only give Maryland a greater reach into the Turkish market, but also will help Maryland companies connect with new European and Asian partners and promote the state’s ideal location to overseas companies looking to expand to the U.S.

Commerce Renews Korean Partnership

In October 2023, Maryland announced it had renewed its Memorandum of Understanding (MOU) with the Korea SMEs and Startups Agency, also known as KOSME. As part of the MOU signed in 2021, Maryland and KOSME support Korean startups as well as small- and medium-sized businesses interested in entering green and high-tech sectors in the U.S., with the potential for them to participate in Maryland’s Global Gateway program. The partnership also supports companies interested in the aerospace, biohealth, cybersecurity, and renewable energy industries.

Since this agreement was formed, more than 20 Korean companies have been introduced to doing business in Maryland. Fifteen are biohealth businesses that have received assistance from BioHealth Innovation, with two companies officially joining the Rockville Innovation Center. Nearly a dozen others have participated in the U.S. Offshore Wind Pathway Program, which provides training and industry introductions for global companies looking to enter the U.S. market.

Continuing our collaboration with the Republic of Korea and KOSME not only benefits both entities, but it further solidifes Maryland as the prime destination for entering the United States.

Secretary of Commerce

Kevin Anderson

Wins from Around the World

“Continuing our collaboration with the Republic of Korea and KOSME not only benefits both entities, but it further solidifies Maryland as the prime destination for entering the United States,” said Secretary Kevin Anderson. “I am pleased to support our ongoing partnership and look forward to watching this international relationship bring continued job creation and further opportunities to both regions.” South Korea is Maryland’s ninth largest export market, up from 11th in 2021, with $635 million in goods exported in 2022. This increase is largely due to expanded exports of natural resources, such as minerals and natural gas, as well as products related to the life sciences industries.

Maryland Global Gateway Program Places 27 International Companies

In October 2023, Gov. Moore announced that the Maryland Department of Commerce’s Maryland Global Gateway program placed 27 international companies representing 19 nations in incubators across the state through the Maryland Global Gateway program. “The state’s Global Gateway program is truly an innovative tactic,” said Gov. Moore. “While going through this soft landing trial, companies will quickly learn the benefits of doing business in Maryland. Six of these participants have already registered to do business in the state and we are excited to see more positive results from the program.”

The Maryland Global Gateway program helps to ease an international company’s transition into the U.S. by connecting them with 18 partnering incubators and accelerators in Maryland. The goal of the program is to attract early-stage companies with hopes that they will establish a full-time presence in the state, bringing additional jobs and investment to Maryland. More than 60 businesses applied to participate, with the program successfully capturing a diverse array of companies from six different continents while boosting the state’s attractiveness and competitiveness in the global market.

Capital Region Recognized as a Top 3 BioPharma Cluster

Maryland, D.C. and Virginia, considered jointly as the Biohealth Capital Region (BHCR), was named one of the Top 3 biopharma clusters in the United States by Genetic Engineering and Biotechnology News (GEN). The recognition comes after a lot of hard work. Commerce and other leaders in Maryland’s biohealth industry have been working to make BHCR a “Top 3 by 2023” since 2016, and early in FY24 Maryland accomplished the mission. GEN’s rankings consider five criteria: funding from the National Institutes of Health, venture capital funding, the number of patents issued, amount of lab space, and the overall number of jobs. The BHCR boasts $4.245 billion in NIH funding; $12.16 billion in VC funding; 52,899 patents; 31.69 million- square-feet of lab space, and 128,886 jobs.

Wins from Around the World

Commerce Receives Record Federal Funding for Small Businesses Abroad

The Maryland Department of Commerce received a $750,000 grant from the U.S. Small Business Administration to broaden the state’s international reach and help companies create jobs and access new foreign markets. The funding is the highest single award that the department has ever received through the State Trade Expansion Program, which supports participation in overseas trade shows in targeted industry sectors and funds the state’s ExportMD program. “Maryland’s economy will grow and thrive when our small businesses have more opportunities to succeed,” said Gov. Moore. “We thank the U.S. Small Business Administration for their support in expanding Maryland’s global economic reach.”

Maryland Renews Economic Memorandum with South Australia

In May 2024, Gov. Moore joined State of South Australia Premier Peter Malinauskas to renew an economic memorandum of understanding between Maryland and South Australia. The agreement — first signed in September 2019 and focused on collaboration in cybersecurity, small satellites and space — has been expanded to include testing ranges, workforce development and unmanned autonomous vehicles. The agreement will last three years, with the option to renew. In 2023, the Maryland Department of Commerce led a delegation of Maryland companies to various trade shows in Australia, including the Avalon Airshow and Indo-Pacific 2023. Commerce’s Office of International Trade and Investment also traveled to South Australia to

Maryland and South Australia stand united in our shared commitment to innovation, growth and discovery. This expanded partnership will boost business in Maryland, promote international cooperation, and sharpen our competiveness.

Gov. Wes Moore

Wins from Around the World

“Maryland and South Australia stand united in our shared commitment to innovation, growth and discovery,” said Gov. Moore. Partnership produces progress, and our administration will continue to focus on strengthening the bonds that link Maryland with our friends around the world.”

Maryland and Québec Announce Life Sciences Collaboration

In June 2024, BIOQuébec and the Maryland Tech Council (MTC) announced an MOU to enhance cooperation and collaboration between the two regions’ life sciences sectors. The MOU establishes a framework for cooperation that will enable members of both organizations to access resources, connect with international markets through exclusive events tailored to foster growth and innovation.

Maryland and Quebec have a shared history of collaboration, including signing an agreement in 2020 and renewing it in 2023 to jointly promote trade and innovation, particularly in the life sciences and public health sectors. “We are thrilled to see Maryland and Québec solidify their partnership with this new agreement, which will continue to open doors for biotech companies in both regions,” said Maryland Commerce Secretary Kevin Anderson.

Maryland Innovation Lab Second Cohort to Focus on Supply Chain and Logistics

The Maryland Innovation Lab, a program that pairs global startups with Maryland-based companies will focus on supply chain and logistics for its second cohort. Launched in 2023, the lab received more than 600 applicants in its first year, with two startups, Assetloow of Portugal and Colateral from the UK, being chosen to complete a 10-week accelerator program. The Innovation Lab was created in partnership with the Maryland Department of Commerce, the World Trade Center Institute in Baltimore, and U.K. corporate innovation specialist L Marks, and is part of the Global Gateway Program. The Maryland Innovation Lab is the first publicly funded program in the nation.

A focus on supply chain and logistics will help Maryland companies in and around the Port of Baltimore identify critical solutions in the wake of the Francis Scott Key Bridge collapse. With the Port now fully opened, companies are focused on restoring operations. “This unique program will connect the brightest minds in the supply chain and logistics sector to address the challenges ahead of us,” said Secretary Anderson.

in Baltimore, MD is a global leader in DNA sequencing and array-based technologies.

Illumina

Commerce Lends a Hand

In FY24, Commerce worked across the state utilizing targeted programs and its dedicated staff to provide grants and loans, as well as technical assistance and training. Programs focused on future-facing industries, women-and minority-owned businesses, nonprofits and more. These grants highlight Commerce’s essential role in growing Maryland’s economy and supporting its citizens.

Maryland Strong: Commerce Responds to the Key Bridge Collapse

Commerce has been an essential piece of the recovery, quickly launching the Port of Baltimore Emergency Business Assistance Program. The program was designed to support businesses affected by the closure of the port, with eligible businesses able to recoup up to $100,000 in grant funding. The program has assisted at least 125 businesses and disbursed more than $9.9 million in aid grants.

Commerce Supports Key Technology Sectors with Build Our Future Grant Pilot Program

Launched in 2023, the Build Our Future Grant Pilot Program is part of the Governor’s Innovation Economy Infrastructure Act of 2023 and was established to support new thinking and processes in key industries. The program provides grants up to $2 million to support major innovation to private companies, nonprofits, local governments, and colleges and universities in the essential industries of advanced manufacturing, aerospace, agriculture, artificial intelligence, biotechnology, blue technology, cybersecurity, defense, energy and sustainability, life sciences, quantum, sensors, and robotics.

In its inaugural year, Commerce received 90 applications for grant funding, with 28 being selected for consideration in the second phase. In FY24, Commerce awarded $9 million to 11 transformative projects that accelerate the growth of Maryland’s strategic industry sectors.

26 Companies Receive Manufacturing 4.0 Technology Grants

Commerce’s Maryland Manufacturing 4.0 program awarded 26 companies across the state with grants to promote industry innovation. Similar to Smart Manufacturing, which emphasizes the role of new technologies in manufacturing, Industry 4.0 marks the fourth industrial revolution focusing on digitization and automation of manufacturing facilities, helping them remain globally competitive while driving business growth. Some of the grantees include advanced technology sewing machines to produce custom clothing and apparel; a laser marker to produce microwave components; and programmable machine tools to produce sustainable custom architectural moldings.

Commerce Lends a Hand

Additionally, Commerce received a $1,010,000 grant from the U.S. Department of Energy’s Office of Manufacturing and Energy Supply Chains to accelerate the adoption of smart manufacturing technology in small and mid-sized businesses. Commerce will use the funds in FY25 and FY26 in three different areas: technology readiness assessments for manufacturers, technical assistance for Industry 4.0 technology implementation, and general expansion of the existing Maryland Manufacturing 4.0 program. The funding is expected to break down existing barriers by making smart manufacturing technologies and highperformance computing more accessible to Maryland businesses.

SCRIM (Small Business Resilience in Maryland) Program

Utilizing funding from the Cybersecurity for Small Business Pilot Program, Commerce developed the Small Business Cybersecurity Resilience in Maryland (SCRIM) program, which provides training and direct services to strengthen the cybersecurity infrastructure of 40 Maryland small businesses. Based on the results of security scans, contractors supplied and installed the highest priority hardware and software solutions, addressing the most critical vulnerabilities, with each business receiving up to $10,000 in services and equipment.

Companies utilizing the SCRIM program were also able to leverage the Buy Maryland Cybersecurity Tax Credit, which enabled qualified companies to claim a 50% tax credit for cybersecurity technologies and services purchased from Qualified Maryland Cybersecurity Sellers contracted through SCRIM. The grant officially concluded on Aug. 30, 2024, but follow-up activities are currently being conducted to evaluate the long-term impact of the program and the effectiveness of the mitigation services provided.

Commerce Lends a Hand

Commerce, MEDCO and NASA Goddard Space Flight Center

Join Forces in Support of STEM Education

The Maryland Department of Commerce’s Office of Military and Federal Affairs (OMFA) has played a pivotal role in supporting Maryland’s aerospace sector through strategic partnerships and advisory initiatives. In FY24, OMFA, in collaboration with MEDCO, successfully executed a Memorandum of Understanding (MOU) with NASA’s Goddard Space Flight Center. This three-year agreement aims to strengthen Maryland’s position in the aerospace industry by fostering collaboration in STEM education, technology transfer and business outreach throughout the state. In addition, OMFA provided crucial advice and support to a new advocacy organization, Maryland Aerospace Alliance, dedicated to uniting aerospace stakeholders and positioning Maryland as a national leader in both commercial and federal aerospace activities, while driving the industry’s future growth and innovation.

Commerce Awards More than 100 ExportMD Grants

In FY24, Commerce awarded more than 100 ExportMD grants to small and mid-sized Maryland companies to support their efforts to promote their products in the global marketplace. Established in 1999, ExportMD is funded in part through a cooperative agreement with the U.S. Small Business Administration, which has awarded multiple State Trade Expansion Program (STEP) grants to Maryland Commerce to help fund the program. The program provides matching grants up to $5,000. Maryland businesses utilized the state program in a variety of ways, including a Search Engine Optimization (SEO) program by Baltimore’s Alertus Technologies; a sales trip to the Netherlands for Queen Anne’s County’s Gross Mechanical Laboratories; and attendance at the Singapore Air Show for St. Mary’s County-based ABSI Aerospace & Defense.

DefTech Drives Millions to Maryland Economy

The Maryland Defense Technology Commercialization Center (DefTech), a program run in partnership with Commerce, TEDCO and the U.S. Department of Defense (DoD), supported more than 40 startup technology companies and entrepreneurs in FY24. DefTech provides proprietary business services to its member companies that are developing or are interested in developing commercial products and services using DoD Laboratory intellectual property, equipment, facilities and expertise. Members receive proprietary professional services, including access to technical experts; intellectual property and technology due diligence; business support services; and research tools to support business creation, growth, and operations. In addition, DefTech will work with the Federal Lab Education Accelerator (FLEX) program to provide DefTech members with well-researched market and tech assessments of selected DoD IP.

Commerce Lends a Hand

An economic impact analysis conducted by Commerce analyzed one year of DefTech’s operations and estimated the DefTech Center supported the creation of up to 252 jobs; contributed $31-$75 million to the state’s economy; and raised between $818,000 and $2.7 million in state and county taxes through the one-year period. With the TEDCO partnership, the DefTech program continues to grow and diversify Maryland’s innovation-based economy.

CBAF Supports Small, Minority and Women-Owned Businesses in the Cannabis Industry

Commerce’s Cannabis Business Assistance Loan/Grant Fund (CBAF) was established to support the efforts of the Maryland Cannabis Administration and the Office of Social Equity by providing grants and loans to small businesses, including small, minority-owned and womenowned businesses entering the adult-use cannabis industry. CBAF also provides grants to Historically Black Colleges and Universities (HBCUs) for cannabis-related programs and to business development organizations, including incubators. In FY24, CBAF provided $45.6 million in Medical Cannabis License Conversion Fee Assistance and Pre-Operational Social Equity Licensee Assistance grants while also participating in promotional and technical assistance events held at Maryland’s HBCUs and other universities.

Child Care Capital Support Fund Assists Child Care Providers

The Child Care Capital Support Revolving Loan Fund provided up to $10 million to child care providers who are licensed and participate in the Maryland State Department of Education’s (MDSE) Child Care Scholarship Program in FY24, its second year of operation. The fund offers no-interest loans for capital expenses, and it supported 67 facilities spanning 16 jurisdictions in its first year. “Our child care loan fund is a great example of how we are bringing equitable opportunity to residents and businesses throughout the state,” said Maryland Commerce Secretary Kevin Anderson. “With help from our partners at MSDE, we can ensure children in Maryland have accessible care no matter what region they live in.”

MSBDFA Supports Small Minority-, Women- and Veteran-Owned Businesses

The Maryland Small Business Development Financing Authority (MSBDFA) utilizes the Federal State Small Business Credit Initiative (SSBCI) to support small minority-, women- and veteran-owned businesses that are unable to obtain adequate financing on reasonable terms. Created in 1978, MSBDFA has been recognized as a national model and has become a well-established resource to support the growth of minority- and women-owned businesses through a network

With help from our partners at MSDE, we can ensure children in Maryland have accessible care no matter what region they live in.

Secretary of Commerce

Kevin Anderson

Commerce Lends a Hand

of government agencies, local economic development organizations, banks, private equity companies, business associations, chambers of commerce and local professionals. In total, SSBCI funds were used to approve four loans through MSBDFA totaling $2.9 million. The loans supported $6.4 million in total project costs, 65 new jobs and 255 retained jobs.

Commerce Assists 17 Nonprofits with Interest-Free Loans

Commerce provided $410,000 in short-term operational support to 17 nonprofits through the Nonprofit, Interest-Free, Micro Bridge Loan Account program. The program provides funding of up to $25,000 to qualifying nonprofits and also supports the Maryland Nonprofit Development Center, which offers free technical assistance to nonprofits at least 10 years old with less than $750,000 in revenue. The FY24 recipients were the Alice Ferguson Foundation in Prince George’s County; Community FarmShare LLC in Montgomery County; Cross Community Inc. in Montgomery County; Druid Heights Community Development Corporation in Baltimore; EduCare Support Services Inc. in Montgomery County; Imagine Me Ministries Inc. in Baltimore; It Takes a Village to Help Our Children Inc. in Somerset County; Lighthouse Inc. in Baltimore County; Luna Family Support Services Inc. in Montgomery County; North East Housing Initiative Inc. in Baltimore; No Struggle No Success Inc. in Baltimore; Phase 3 Training Corporation in Baltimore County; Phoenix International Incorporated in Charles County; Stella’s Girls Inc. in Charles County; Talisman Therapeutic Riding in Queen Anne’s County; The Pro Bono Counseling Project in Baltimore; and World Arts Focus Inc. in Prince George’s County.

Enterprise Zone Program Expands

Commerce approved three new Enterprise Zones — Woodlawn in Baltimore County; the towns of Betterton and Worton in Kent County; and the town of Snow Hill in Worcester County. Commerce also approved the redesignation and expansion of an existing zone in the town of Princess Anne, and has approved the redesignation of existing zones in Baltimore County’s Southwest area, Cecil County, and the City of Cambridge in Dorchester County. A joint effort between state and local governments, the Enterprise Zone program provides real property and state income tax credits for businesses that create jobs and make capital investments. Businesses located in the state’s 34 Enterprise Zones will receive $47 million in property tax credits based on more than $4.3 billion in investments made in FY23.

New RISE Zone Established in Baltimore County

Commerce designated a new Regional Institution Strategic Enterprise Zone (RISE Zone), adjacent to Towson University in Baltimore County. The designation aims to spur economic development and job creation by allowing certain businesses within the zones to benefit from rental assistance and enhanced investment incentive tax credits. The designation of the new, 419-acre RISE Zone will help Towson University expand and consolidate its entrepreneurship resources, including the university’s StarTUp at the Armory business engagement center, already located within the zone. The designation will also help establish Towson as a hub for emerging businesses and drive economic development in the Greater Towson community.

Eligible businesses within the zone may apply for rental assistance from Baltimore County and investors in these companies may qualify for enhanced tax credits under the Biotechnology Investment Incentive Tax Credit Program and the Innovation Investment Incentive Tax Credit Program, both offered by the Maryland Department of Commerce. Restaurants and retail stores are not eligible for the RISE zone benefits. “Maryland’s higher education institutions are among the most powerful and innovative economic drivers we have,” said Secretary of Commerce Kevin Anderson. “The RISE Zone designation will help Towson University leverage the immense creativity and talent of its people into meaningful economic growth for Baltimore County and for Maryland.”

The RISE Zone designation will help Towson University leverage the immense creativity and talent of its people into meaningful economic growth for Blatimore County and for Maryland.

Commerce Secretary Kevin Anderson

ARMR Systems develops hemorrhage control systems designed to increase the survivability of traumatic battlefield injury where advanced medical support is not immediately available.

Maryland Pavilion at BIO International Convention in San Diego.

Spreading the Maryland Message

When it comes to getting the word out, Commerce works hard and smart to meet potential partners. Whether it’s hosting events right here at home or traveling to the other side of the globe, Commerce’s efforts at trade shows, air shows, symposiums and more can be the first move in bringing home a new business or the final step to seal the deal. Through its Office of International Investment and Trade (OIIT), Commerce assists Maryland businesses’ in attendance at these important shows, supporting 56 companies’ trade show attendance in FY24. Here are some of the highlights of Commerce’s ambitious trade show schedule.

FAA Drone and AAM Symposium, Baltimore, MD

For the first time since 2019, Baltimore played host to the FAA Drone and Advanced Air Mobility (AAM) Symposium, and Commerce was a primary sponsor. The event, which ran Aug. 1-3, 2023, brought together high-ranking officials from the Federal Aviation Administration (FAA) with hundreds of industry attendees from across the country to discuss issues and opportunities in the rapidly evolving drone and AAM space. As a sponsor of the event, the Commerce logo was prominently placed around the event floor. Commerce was one of the few organizations able to distribute marketing materials onsight, and provided a speaking opportunity for the University of Maryland UAS Research and Operations Center leadership.

BlackHat and DefCon 2023, Las Vegas, NV

From Aug. 8-14, 2023, a team from Commerce was in Las Vegas, Nevada for BlackHat and DefCon, two of the largest and most prestigious annual international cybersecurity and technology conferences, drawing over 30,000 participants. Commerce promoted Maryland’s position as an international leader in the cybersecurity space as well as its Global Gateway soft landing program to an international audience that included potential partners from Australia, the United Kingdom and Germany. On the national level, Commerce met with Harry Coker, National Cyber Director, NSA; Scott Christensen, Chief Data Officer, U.S. Cyber Command; and officials from DARPA and other agencies.

Quantum World Congress, Tysons, VA

The Quantum World Congress was held in Tysons, Virginia, Sept. 2628, 2023, and Commerce was on hand as a sponsor. Secretary of Commerce Kevin Anderson gave remarks at the event and attended the VIP International Dinner hosted by the Kingdom of the Netherlands, where Commerce was one of only two states participating along with representatives of 25 nations.

The MedTech Conference, Anaheim, CA

Commerce was on the ground in Anaheim, California, from October 9-11, 2023, leading a delegation of 18 Maryland companies to The MedTech

Spreading the Maryland Message

Conference, the flagship event for AdvaMed, the largest medical association in the world. With AdvaMed representing more than 80% of U.S. medical technology firms, the event drew more than 3,200 participants, providing an excellent opportunity for Commerce and its 18 partners — who attended in part thanks to Commerce scholarships that provided full conference registration — to expand the market for Maryland-made medtech.

While at MedTech, Commerce staff held prescheduled meetings hosting potential attraction and collaboration prospects, as well as providing guidance and businessto-business connections to Maryland companies. Commerce also co-sponsored a networking reception for CEOs that drew more than 150 industry leaders. Commerce’s scholarship partners attending the conference were: AGED Diagnostics; ARMR Systems; Backpack Healthcare; CarrTech Corp; CSSi Life Sciences; Djit Medtech; Drizzle Health; Evon Medics; GaitBetter; Hawkeye

MedTech; The LaunchPort; Linshom Medical; Medcura; Optosurgical; PediaMetrix; PsyTechVR; Sonogen Medical; and TechSlice

Maryland Aerospace Day, Annapolis, MD

Maryland Aerospace Day was held in Annapolis on Feb. 13, 2024, bringing together aerospace industry leaders and elected officials. The highlight was a roundtable discussion with Lt. Gov. Aruna Miller held in the Governor’s Reception Room. The meeting included members of the departments of Commerce and Labor joining representatives from the NASA Goddard Space Flight Center; NOAA NESDIS; Johns Hopkins APL; the Maryland Space Business Roundtable; the Space Telescope Science Institute; UMD UAS Research and Operations Center; and the Association of Universities for Research in Astronomy. The discussion revolved around workforce development in the aerospace industry throughout Maryland and has launched follow-up discussions throughout the year, growing in

breadth to include other state organizations and universities. The day concluded with a reception at The Graduate Annapolis that included exhibits from many of the participating organizations and addresses from Secretary of Commerce Kevin Anderson and Lt. Gov. Miller.

Global Cyber Innovation Summit, Baltimore, MD

The Commerce team played with a home court advantage for this year’s Global Cyber Innovation Summit, held in Baltimore on April 9-11, 2024. Known as the “Davos of Cybersecurity,” the 2024 Summit brought together an unprecedented gathering of global CISOs, best-of-breed cybersecurity CEOs, leading cyber researchers, policymakers, and cybersecurity innovation investors. In addition to meetings with C-level executives from national tech companies, including Anthropic, Delta Airlines, AT&T, Google Cloud, and In-Q-Tel, along with high-ranking members of federal agencies, including the FBI’s Cyber Division and the NSA, Maryland Secretary of Commerce Kevin Anderson gave remarks at the event’s VIP Cyber Reception.

Maryland MedTech Summit, College Park, MD

Recognizing Maryland’s place as a national and global leader in medtech, Commerce teamed with the Robert E. Fischell Institute for Biomedical Devices to co-host the first annual Maryland MedTech Summit on April 11, 2024 at the University of Maryland. The event drew more than 160 attendees

Spreading the Maryland Message

representing the private sector, universities, federal agencies and more. The event was deemed a rousing success, with plans to grow even bigger in FY25.

RSA

2024, San Francisco, CA

Commerce attended RSA in San Francisco May 5-9, 2024, which is one of the largest annual international gatherings of cybersecurity and technology companies in the world, drawing more than 50,000 participants. The Commerce team met with international partners, including ICEX Spain and Investment and the Spanish National Cybersecurity Institute; Red Alert Labs from the French delegation; Llywodraeth Cymru from the Welsh Government; and DATAGROUP with the German Government to promote Maryland and the Global

Gateway program. Commerce also hosted the successful Maryland Cyber Leadership Breakfast, drawing more than 120 attendees for an expert panel including Maryland industry leaders Chuck Faughnan, CEO of Personam.ai; Husein Sharaf, CEO of Cloudforce; Will Rhode, CEO of QuantaHub; and Sven Cattell, Founder of AI Village.

AUVSI Xponential, San Diego, CA

AUVSI Xponential, the largest industry trade show focusing on robotics and autonomous technologies, was held in San Diego, California from May 1922, and Commerce was on-site hosting its Maryland Pavilion. In addition to the Commerce team, eight partners representing Maryland industry and higher

education institutions helped promote Maryland’s strength in high-tech sensors, UAVs, satellites, specialized storage cases and communications devices.

2024 BIO International Convention, San Diego, CA

In June 2024, Commerce attended the BIO International Convention, the largest and most comprehensive event for biotechnology, representing the full ecosystem of biotech with more than 18,500 industry leaders from across the globe. Commerce hosted a pavilion on the exhibition floor; provided scholarships to a delegation of 15 Maryland companies; attended 22 networking events; and held the Maryland Networking Reception, which drew more than 250 industry attendees. Among the many meetings with potential Maryland business partners, Commerce welcomed participants from Montgomery and Frederick counties as it hosted delegations from Japan and South Korea as well as TEDCO, the Maryland Stem Cell Research Fund, and the Maryland Tech Council.

Commerce’s scholarship partners for BIO International were Kubanda Cryotherapy; Fzata; Optisurgical; WearableDose; Sonogen Medical; Solaxa Inc., MelaTech; Veralox Therapeutics; Neuroene Therapeutics; Silvec Biologics; Auxergen; IGC Pharma; Aptabridge Therapeutics; Neuros Biotechnology; and EcoMap Technologies.

Cloudforce CEO Husein Sharaf (center) presents at the 2024 RSA Conference in San Francisco, CA, joining hosts from the Maryland Department of Commerce, Director for Cybersecurity and Aerospace Kimberly Mentzell (far left), and Cybersecurity Program Manager Brandon Cannaday (far right)

Longeviti Neuro Solutions in Baltimore, MD creates customized implantable prosthetic cranioplasty plates intended to correct and restore bony voids and defects of the cranium.

Making Moves Across Maryland

Whether it’s big businesses or small, in urban centers and along rural routes, the Department of Commerce constantly works to make more for Maryland. Whether it’s through workforce training, economic stimulus or simple advice in navigating today’s ever-changing business climate, here are some of the ways Commerce made a difference from the mountains out west to the Ocean City shore.

Commerce and Partners Launch StartUp Lab in Carroll County

For small businesses starting today, a firm grounding in the STEM fields can be essential to success. With that in mind, Commerce teamed with Mid-Atlantic Gigabit Innovation Collaboratory (MAGIC) and TEDCO to launch StartUp Lab, a yearlong mentorship program for Carroll County STEM entrepreneurs. Launched and operated with support from the Carroll County Department of Economic Development, StartUp Lab pairs six company founders with established tech entrepreneurs, funders and advisers to meet quarterly. Between meetings, the new business founders are offered support and guidance from the Commerce team and TEDCO. Taken together, StartUp Lab hopes to pave the way to success for Carroll County STEM startups.

Beltsville’s ION Storage Systems Commissions Advanced Battery Manufacturing Facility

In Beltsville, ION Storage Systems, a Commerce Build Our Future and M4 grant recipient, commissioned one of the largest solid-state battery manufacturing facilities in the nation. Located next to ION’s Beltsville headquarters, the facility’s pilot production line is expected to begin manufacturing 1MWh of battery cells this year while expanding to 10MWh by early 2025, with a goal of reaching 500MWh capacity by 2028. ION’s solid-state batteries eschew graphite and other less-sustainable materials and utilize an architecture that doesn’t require extensive cooling. ION is testing their advanced batteries in collaboration with the University of Maryland Center for Research in Extreme Batteries (CREB), and has already received the support of industry leaders, including Toyota Ventures putting ION Storage Systems and Maryland at the forefront of the green revolution.

Blue Whale EV Expanding in Anne Arundel County

Blue Whale EV, an electric vehicle charging adviser, has opened its new corporate headquarters in Hanover. Working closely with charging manufacturers including Blink, Blue Whale works with its clients that include municipalities, stadiums, airports and more to build versatile, robust and sustainable transportation and infrastructure solutions. The new 10,000-square-foot headquarters was developed in collaboration

Making Moves Across Maryland

with St. John to be both efficient and scalable as Blue Whale EV makes its move into a greener future.

Rampart Communications Expands in Anne Arundel County

Rampart Communications, an innovative communications security technology company based in Linthicum Heights, has expanded to a new facility to accommodate the 33 new jobs added since May of 2023 and provide potential for future growth. As a part of their plan for the future, Rampart has submitted a Notice of Intent to take advantage of the Maryland Department of Commerce Job Creation Tax Credit Program, signaling big things to come for the Maryland company.

Morgan Stanley is Growing its Baltimore Footprint

One of the company’s nine Global Centers, Morgan Stanley Baltimore has consolidated its Baltimore offices and is expanding operations from five floors to seven, and now employs 2,000 people in the city. Commerce is supporting this move along with Morgan Stanley’s plans for continued Baltimore growth through the Job Creation Tax Credit and other resources to ensure that one of Maryland’s premier financial institutions remains a local and global powerhouse.

Naval Technology Firm MAPC Expands in

Baltimore Maritime Applied Physics Corporation (MAPC), a highly

regarded naval technology firm, has expanded with more than 50 new employees in FY24 and plans to add another 60 jobs in FY25, positioning the company to fully utilize Commerce’s One Maryland Tax Credit, the More Jobs for Marylanders program, and the Job Creation Tax Credit, with plans to access the R&D Tax Credit underway. To accommodate the additional staff, MAPC has added office space and is adding an onsite Sensitive Compartmented Information Facility (SCIF), and is leveraging support from the Commerce team in the permitting process.

Commerce Grants Help Condiment Company Catch Up

Tulkoff Food Products, a prominent, national condiments company, has added another manufacturing line with help from the Maryland Manufacturing 4.0 grant program. At the same time, Tulkoff’s staff is keeping up with the latest advances and equipment, thanks to Commerce’s Partnership for Workforce Quality training grant.

Commerce Supports Domino

Sugar

Workforce Training

Domino Sugar Refinery/ASR Group, the company behind Baltimore’s iconic Domino Sugar plant, is cementing its 102year Baltimore presence with a sweetener from team Commerce. The historic raw sugar plant, which manufactures more than

40 products and employs nearly 500 Marylanders, is keeping up to speed with the help of a Partnership for Workforce Quality (PWQ) training grant. Thanks to the grant, Domino is able to maintain its established local workforce at the highest levels of performance.

Canadian Printing Company Makes the Maryland Move

Known for its innovation and ecofriendly technologies, Canadian digital printing company Hart Print has expanded into a new location in Cecil County. The move will allow Hart Print to accept larger orders and provide the company with additional flexibility. To facilitate its Maryland move, Hart Print is utilizing the More Jobs for Marylanders program and the Job Creation Tax Credit. As the first company to introduce digital printing on recyclable aluminum cans, Hart Print provides custom designs for a variety of beverage companies and products including beer, spirits, seltzer and kombucha. The company is focused on providing plastic-free sustainable products by using biodegradable and compostable alternatives to plastic can rings and shipping products in cardboard boxes.

Family-Owned Saval Foodservice Opens Howard County Facility

A family business now in its fourth generation, Saval Foodservice took advantage of Commerce’s Video Lottery Terminal Fund to open their newest division and facility, 1932 Specialty Produce & Meat. Located in Elkridge, the division

Making Moves Across Maryland

is named for the company’s founding year. This dynamic expansion of the company allows Saval Foodservice to curate a more diverse catalog of product offerings including seasonal, local and custom items.

St. Mary’s County AeroPark Innovation District Expands and Improves

St. Mary’s County’s AeroPark Innovation District continues its growth as the airport terminal, the networking hub for the innovation district, is undergoing facility improvements with the aid of state dollars. Improvements include a large shade structure, seating, landscaping and a repaved parking lot to improve access to the terminal from the outside, as well as new furniture designed by local workers and students inside. The $380,000 project is supported primarily by the Maryland Rural Economic Development Fund.

Commerce Funds Southern Maryland SCIF Spaces

A $2.5 million state grant is funding the ongoing construction

of two SCIF spaces in Southern Maryland. The funding was facilitated by a pass-through via MEDCO with construction running through much of FY24 and currently nearing completion. One facility is located at the Maryland Technology Center (MTC) in Charles County, and the other in the St. Mary’s County Aeropark Innovation District. An additional $550,000 in funding from the Rural Maryland Economic Development Fund (RMEDF) is going towards the MTC SCIF space, as well as adjoining offices and infrastructure.

RMEDF Supports Advanced Energetics Lab in Charles County

The MTC in Charles County received $267,000 through RMEDF to add essential lab equipment specific to energetics and bomb detecting equipment. The United States Bomb Technician Association (USBTA) moved to the MTC from Colorado in May of 2022, and this improvement is part of a phase 2 initiative to complete the facility’s build-out. The equipment will allow USBTA, as well as

its national and international partners, to undertake advanced energetics work for the Indian Head Naval Surface Warfare Center (NSWC) as well as affiliate bomb disposal companies.

Commerce Supports $2 Billion NSWC Indian Head Modernization

As part of its Smart Arsenal plan, the Navy is investing $2 billion to modernize and improve its NSWC Indian Head location. This massive federal investment has triggered the opening of several new defense-focused businesses in the area, and Commerce is supporting the region as it prepares for the expansion. Commerce has lent its expertise and provided indirect assistance to Charles County, the Tri-County Council of Southern Maryland, and the town of Indian Head in workforce attraction and in accessing federal grant funds through the Military Installation Resilience Review (MIRR). Additionally, Commerce has engaged with MDOT on transportation resilience efforts around the base.

Morgan Stanley, Baltimore, MD

Maryland Pavilion at Select USA 2024, National Harbor, Maryland.

Marketing Maryland

Marketing Maryland to Key Global Markets

Commerce’s Marketing team oversees the state’s business brand, working closely with the Maryland Marketing Partnership Board to execute the advertising campaign. The media strategy is only one component of our branding efforts. The team also manages its greatest tool, the website, which tells the story of doing business in Maryland and connects businesses to resources across the state. Additionally, the team works with the business units throughout Commerce to create Maryland brand experiences at key industry trade shows all over the world. Collateral, social media, promotional materials, videos, and well-designed booths and pavilions come together in a roadshow that puts Maryland’s greatest assets on display. Our in-house production expertise allows us to create content, displays, videos, social graphics, ad placement sizings, print collateral and more at just a fraction of the cost on the open market. Below are some of the highlights throughout the year.

Be Moved Campaign Year Two

Maryland’s business and talent attraction campaign reached 292 million business decision-makers in FY24 and drove 2.9 million visitors to the websites. Engagement grew tremendously with the addition of more videos in the campaign. The creative was expanded to include more diverse companies and CEOs from around the state, and we started ad campaigns in two foreign markets, the UK and Canada. Engagement was high in these foreign markets, so we will expand our campaign to include Japan next year as well.

Advertising Conversions

To optimize media placements and creative messages, we monitor website activity. If a visitor spends more than 2 minutes engaging on the site after being exposed to advertising, we deem them a “conversion.” Those conversions represent engaged people who were impacted by the ads and show an interest in our content.

At the beginning of the campaign, it was costing $30-$60 per conversion. As we progressed and optimized, the campaign became increasingly more cost-efficient, with many flights driving in conversions under $10. The average cost per conversion is currently at $7.28.

Competing for Talent

As competition for the workforce has tightened, Maryland has increased emphasis on talent attraction marketing in FY24. With a new dedicated website (LiveWorkMaryland.com) and a marked increase in budget

292,098,033 business decision-makers reached through advertising 2,980,622 website visitors 741,395 impressions through events

40,271 email subscribers

57,314 social media followers

2,763, 261 total engagements

$430,000 estimated value of creative projects produced in-house — 129 print-related projects

$621,000 leveraged from private sector to support ad campaigns

4,500 news segments generated $27M earned media value

Marketing Maryland

for talent attraction advertising, Maryland is reaching more young professionals working in STEM fields and college students in STEM programs. Leveraging the existing “Be Moved” advertising concept, ads introduce our target audience to Maryland’s advantages, including high salaries, unmatched diversity and boundless career opportunity.

As a result, over 550K of the target audience spent time on LiveWorkMaryland.com — engaging with content like video testimonials, neighborhood spotlights and job postings.

Showcasing Maryland Through Dynamic Content

In addition to the Be Moved campaign, a variety of custom content was created to reach key

Note: The spike in reach for 2021 is due to the increased media spend, as well as the shift into digital video.

audiences at various touchpoints. Responding to trends and stakeholder input, the marketing team develops content themes to focus efforts on key topics annually. FY24 content themes included: emerging technologies, like quantum and artificial intelligence; Maryland’s diverse and inclusive environment; and creative economies. Using a multimedia approach, these themes are highlighted in several ways, including in custom web pages, articles, public relations efforts and social media animations.

Trade Show Recap

Marketing produced and provided materials for 74 events this year that reached an audience of 741,935 business executives across our key industry targets. The team created Maryland Pavilions

for large events like the BIO International Convention, AUVSI Xponential, and MEDICA, and many smaller booths in Maryland, across the U.S., and internationally. Marketing also writes, designs and produces collateral material, videos and signage to support the sales team’s efforts as they meet with companies.

What’s Next for Marketing Maryland?

Key advertising markets will be further refined and international advertising will be expanded to include new markets in Japan. The business attraction website will get a refresh, and trade show marketing will continue to display Maryland’s business advantages. All marketing activities will adapt to our ongoing strategic planning efforts to ensure the best results.

Marketing Maryland

Storytelling Through Communications

Commerce’s communications team distributed 34 press releases and contributed to several announcements from economic development partners in FY24. Together, these helped land 4,500 segments of news coverage, reaching more than 2.3 billion people, and securing an earned media value totaling nearly $27 million. Some of the year’s top stories surrounded the following projects: Conair’s distribution facility in Washington County (Yahoo! News — 14 million readers); Rocket Lab’s space complex in Baltimore County (Chase financial news — 13.4 million readers); Build Our Future grant recipients (Fox 8 News — 4.6 million readers); and Pompeian’s participation in the Maryland Innovation Lab (Associated Press — 2.6 million readers).

Staff helped prepare Commerce Secretary Kevin Anderson for

approximately 75 virtual and in-person events with economic development partners, local organizations, interviews with media outlets, and more. The team also helped create and deliver more than 278 Secretary’s Citations to local businesses and organizations celebrating milestone anniversaries, grand openings and expansions throughout the fiscal year.

To help tell the story of Maryland’s business community, Commerce communications staff published 118 blog posts hosted on business. maryland.gov. Blog topics included breaking news announcements, small business features, programs and resources, and other assets for doing business in Maryland. In total, Commerce’s original blog content attracted more than 77,000 users to the site and was actively promoted through the agency’s social media channels and monthly newsletters.

Commerce’s blog attracted additional attention in FY24, receiving recognition from both the Public Relations Society of America (PRSA Maryland Chapter) and industry leader Ragan Communications. The Department was named a finalist in Ragan’s PR Daily Social Media & Digital Awards and was given PRSA Maryland’s “Best in Maryland” award for its original blog content.

Marketing Maryland Partnership

The Maryland Public-Private Partnership Marketing Corporation was established by the Maryland General Assembly (Chapter 141, Acts of 2015). The Maryland Public-Private Partnership Marketing Corporation, operating under the trade name Maryland Marketing Partnership (MMP), is a cooperative venture of the state and private businesses. The Partnership is a body politic and corporate instrumentality of the state.

The Maryland Marketing Partnership (MMP) consists of a governor-appointed board that advises the Maryland Department of Commerce’s Marketing Office on business branding strategy to attract new businesses and workers to the state. The MMP also oversees a fundraising program with Maryland businesses to support the campaign. The MMP Partners invest in Maryland’s future and help position Maryland as a great place to live, work and expand a business.

MARYLAND MARKETING PARTNERSHIP CORPORATE LEADERS

Whiting-Turner provides construction management, general contracting, design-build and integrated project delivery services on projects small and large for a diverse group of customers. The company is currently active in over 20 industries. Since 1909, the firm has been guided by the principles of integrity, excellence and an unwavering dedication to customer delight. With headquarters in Baltimore and 60 locations across the country, Whiting-Turner is currently ranked third in domestic building construction by Engineering News-Record. The firm’s over 5,000 salaried professionals provide depth of resources to service nationally and to build locally. The strength and stability of the firm is well documented. WhitingTurner enjoys a 5A-1 Dun & Bradstreet rating — the only domestic builder with this highest rating — and a bonding capacity of $4 billion. The firm is financially independent, having not borrowed money since 1938.

BGE, headquartered in Baltimore, is Maryland’s largest natural gas and electric utility, providing safe and reliable energy delivery to more than 1.3 million electric customers and more than 700,000 natural gas customers in central Maryland. BGE is a subsidiary of Exelon Corporation (Nasdaq: EXC), the nation’s leading energy utility company.

One of the largest privately-owned real estate development companies in the region, Peterson Companies delivers some of the area’s most exciting mixed-use retail, residential and commercial destinations. Over the past 59 years, Peterson has created such exceptional landmarks as National Harbor, Downtown Silver Spring, Fair Lakes and Fairfax Corner. With a proven ability to move quickly on opportunities to enhance local communities, the company creates vibrant residential and business districts that benefit all who live and work in our region. For more, visit petersoncos.com.

Headquartered in Baltimore, St. John Properties is one of the nation’s largest and most successful privately held commercial real estate firms. The company has developed, owns and manages more than 24 million square feet of commercial flex/R&D, office, retail and bulk space, proudly serving more than 2,600 clients throughout 11 states. St. John Properties ranks within the top 5 developers of LEED-certified buildings nationwide and was honored as NAIOP’s National Developer of the year in 2018. The company was also named the Baltimore Business Journal’s Best Place to Work in 2020. For more information about St. John Properties, visit sjpi.com

The University System of Maryland (USM) is the state’s public higher education system, serving more than 165,000 students across twelve institutions and three regional higher education centers located throughout the State. But we are also much more. With more than $1.5 billion in path-breaking research annually, we’re an engine powering the economy. Our universities issued more than 42,000 degrees last year — including some 12,000 STEM degrees and 4,000 healthcare degrees — ensuring a relevant, prepared workforce. Every year, USM faculty, staff and students volunteer more than 2 million hours in Maryland communities, contributing immeasurably to our quality of life. Through education, research and service, the USM changes the world for good, starting right here at home.

SECU (“see-Q”), the State Employees’ Credit Union of Maryland, is the state’s largest state-chartered credit union and serves over 250,000 members via 21 Financial Centers across the state, including 18 Financial Centers, 3 Digital Centers, and a Virtual Financial Center. As a member-owned, not-for-profit organization, SECU puts its members first. Membership is open to all of Maryland, with over 1,900 ways to join — you may be eligible through a family member, work, the college you attended, state employment, an organization you are affiliated with or simply through a onetime donation to SECU’s partner, the SECU MD Foundation. Headquartered in Linthicum, Maryland, SECU offers convenient access to over 50,000 free ATMs through the CO-OP network, as well as access to expert financial planners. With more than $5 billion in assets, SECU ranks among the top 60 credit unions nationwide based on total assets in the U.S. Insured by NCUA. For more information, visit www.secumd.org

Founded in 1937, T. Rowe Price (NASDAQ – GS: TROW) helps individuals and institutions around the world achieve their long-term investment goals. As a large global asset management company known for investment excellence, retirement leadership and independent proprietary research, the firm is built on a culture of integrity that puts client interests first. Clients rely on the awardwinning firm for its retirement expertise and active management of equity, fixed income, alternatives and multiasset investment capabilities. T. Rowe Price serves millions of clients globally with $1.61 trillion U.S. in assets under management as of August 31, 2024. About two-thirds of the assets under management are retirement-related.

MEDCO was created by the Maryland General Assembly in 1984. MEDCO’s mission is fourfold: to help foster the growth and retention of current businesses; attract new business to the state; assist in the creation of new enterprise ventures; and generate employment opportunities throughout the State of Maryland. MEDCO achieves its mission by partnering with public/private entities to provide innovative revenue bond financing, real estate and infrastructure development solutions, as well as workforce and education program development and strategic advisory services. Operating under the core values of equity, integrity, community and excellence, MEDCO is committed to serving Maryland’s economic interests and realizing its great potential.

Tradepoint Atlantic is a 3,100-acre multimodal industrial site in Baltimore that features a unique access to deep-water berths, railroads and highways. The site, a terminal within the Port of Baltimore, is expected to generate thousands of jobs in Maryland. Tradepoint Atlantic is hailed as a modern industrial revival, transforming a former steel mill into one of the largest most strategically significant inter-modal global logistic hubs in the nation. Board Chairman Michael Mullen has over four decades of experience in the industrial development business, having developed and redeveloped more than 70 million square feet of industrial facilities and major railway inter-modals.

M&T Bank is a financial holding company that operates in 12 states across the northeastern U.S. from Maine to Virginia and Washington, D.C., offering banking products and services to commercial banking, retail banking, business and professional banking, investment, and mortgage banking. Trust-related services are provided in select markets in the U.S. and abroad by M&T’s Wilmington Trustaffiliated companies and by M&T Bank. M&T is a community bank, delivering the capabilities of a big bank with the care and empathy of a locally focused institution. M&T offers advice, guidance, expertise and solutions across the entire financial spectrum, combining M&T’s traditional banking services with the wealth management and institutional capabilities offered by Wilmington Trust. For more information about M&T Bank, visit www.mtb.com

Marketing Maryland Partnership

Harbor East Management Group, a wholly owned subsidiary of H&S Properties, is a leading real estate development and management company based in Baltimore. They are the visionary developers behind Harbor East, one of the mid-Atlantic’s most exciting mixed-use developments spanning 5.5 million square feet of commercial, retail, office, hotel and residential space along Baltimore’s Inner Harbor. Harbor East serves as a catalyst for downtown investment, spurring residential urbanization and creating a blueprint for future development.

Clark Construction is a local builder with national reach. Over the course of a century, Clark has grown from a small excavator into one of the nation’s most capable and trusted providers of construction services. The company’s portfolio features projects ranging from intricate interior renovations to complex civil operations.

Montgomery County Economic Development Corporation is the official public-private economic development organization representing Montgomery County, Maryland, and is funded by Montgomery County. Its mission is to accelerate business development, attraction, retention and expansion in key industry sectors while advancing equitable and inclusive economic growth. The Montgomery County Economic Development Corporation connects businesses to top talent, partnerships, resources and prime locations for success.

Bozzuto is an experience-focused real estate company distinguished by its innovative developments, dedicated customer service and top-rated workplace culture. With award-winning expertise in homebuilding, multifamily development, construction, and management, Bozzuto is devoted to delivering extraordinary experiences for those they serve. Since its founding in 1988, Bozzuto has developed, acquired, and built more than 60,000 homes and apartments. Celebrating 36 years of creating sanctuary, Bozzuto currently manages 110,000 apartments and 3.5 million square feet of retail space across the U.S. For more information, visit Bozzuto.com

Kaiser Permanente is committed to helping shape the future of healthcare. We are recognized as one of America’s leading healthcare providers and notfor-profit health plans. Currently serving nearly 835,000 members in the midAtlantic region at 35 medical centers in Washington, D.C., Maryland and Virginia, Kaiser Permanente’s care for members and patients is focused on their total health and guided by its Permanente Medical Group physicians, specialists and care team. Kaiser Permanente is dedicated to caring innovations, clinical research, health education and the support of community health.

Howard Hughes Holdings Inc. owns, manages and develops commercial, residential and mixed-use real estate throughout the U.S. Its award-winning assets include the country’s preeminent portfolio of master planned communities, as well as operating properties and development opportunities including: Downtown Columbia ® in Maryland; The Woodlands®, Bridgeland® and The Woodlands Hills® in the Greater Houston, Texas area; Summerlin® in Las Vegas; Ward Village® in Honolulu, Hawaii; and Teravalis™ in the Greater Phoenix, Arizona area. The Howard Hughes portfolio is strategically positioned to meet and accelerate development based on market demand, resulting in one of the strongest real estate platforms in the country.

Dedicated to innovative placemaking, the company is recognized for its ongoing commitment to design excellence and to the cultural life of its communities.

Howard Hughes Holdings Inc. is traded on the New York Stock Exchange as HHH. For additional information visit www. howardhughes.

Marketing Maryland Partnership

United Therapeutics Corporation (UT) was founded by parents to save the life of their child and others who had been diagnosed with a rare, deadly disease called pulmonary hypertension. In 2021, UT became the first publicly traded biotechnology company to become a public benefit corporation (PBC), aligning its legal form with its founding inspiration. Its public benefit purpose addresses patient needs today and cures in the future: to provide a brighter future for patients through the development of novel pharmaceutical therapies and technologies that expand the availability of transplantable organs. UT looks forward to growing in downtown Silver Spring.

As Microsoft’s go-to partner in all things cloud and AI, National Harbor-based Cloudforce continues to make huge impacts in local, state and global initiatives. In addition to delivering Cloud and AI solutions to some of the world’s biggest brands, Cloudforce also topped 58,000 global competitors to win Microsoft’s 2024 Supplier Prestige Award for Commitment to Community — a testament to the firm’s celebrated commitment to building and enriching its local community through education and employment initiatives. Now at the forefront of the transformative power and possibilities of generative AI, Cloudforce is bringing new competitive advantages, efficiencies and innovation to the State of Maryland, the University of Maryland, and to higher education and research institutions worldwide.

FOVNDRY is an award-winning, fully integrated branding + creative, marketing, and public relations agency that has made its mark in the public and private sectors, plus membership-based associations, since 2004. Headquartered in Rockville, Maryland, with an office in Baltimore, FOVNDRY crafts custom solutions for local, regional, and national businesses and organizations across industries — including commercial, residential, + mixeduse real estate; professional and consumer services; transportation + automotive; health + science; and more. FOVNDRY is an SBAcertified woman-owned small business (WOSB), as well as a minority business enterprise (MBE) and disadvantaged business enterprise (DBE).

TEDCO, the Maryland Technology Development Corporation, empowers entrepreneurs by providing funding, resources and support to grow technology and life science-based companies in Maryland. Whether launching a startup or scaling a business, TEDCO is here to help entrepreneurs succeed. Learn more about the different investments, funding opportunities and business resources at tedcomd.com

Eastern Watersports, a division of Eastern Marine Services Inc., provides recreational watersports and retail sales. With five separate locations in Maryland, we offer everything in, on and around the water. We promote outdoor adventures on Maryland’s Chesapeake Bay and provide access to all the retail gear you need to get going through our ecommerce site and brick-andmortar stores. Come explore all we have to offer at easternwatersports.com or its Facebook and Instagram pages.

Since Fulton Bank opened its doors in 1882, it has strived to deliver the best banking experience for its customers. Fulton Bank’s focus on customers has allowed it to grow along with you. Today, as part of Fulton Financial Corporation, an over $34 billion financial services holding company, Fulton Bank offers a broad array of financial products and services in Pennsylvania, New Jersey, Maryland, Delaware and Virginia. Fulton Bank is proud to offer convenience in neighborhoods across the region through over 200 financial centers.

Marketing Maryland Partnership

Founded in 2005, High Rock Studios has built a reputation for innovation, expertise, and results. The team is a blend of strategic, creative, and technical-integrated solutions to solve any marketing challenges. Since our founding, our goal has been to help businesses and organizations succeed in the ever-changing world of technology and media. Over the years, we have grown to offer new services that are led by strategy, creativity and technology. Our process is one of learning. We talk, strategize and implement our services based on solid research and client goals. We build on a solid foundation for your success, because your success is our success.

Route One Apparel is an online retailer specializing in trendy apparel, accessories, home goods and other gifts that celebrate Maryland pride. We are a small local business that was founded in 2010 by Ali von Paris while she was an undergraduate student at the University of Maryland. Over our 14-year history, we have grown significantly (we were even named Baltimore’s “Fastest Growing Company” by the Baltimore Business Journal in 2021) and today we offer more than 3,000 unique products for customers of all ages. We hold official licensing agreements and offer exclusive designs for popular local and national brands, including National Bohemian, Old Bay, Utz, Domino Sugar, and Morton Salt; and we collaborate with many more corporate and nonprofit brands to create custom merchandise. With a combined social media following of more than 200,000 people, Route One Apparel is respected as an ambassador for supporting local businesses and the greater community.

Weller Development Partners is an innovative real estate development firm building world-class luxury hospitality, branded residential and mixed-use communities. At the heart of the company ethos is a triple bottom-line approach to development, designing strategies that are financially viable, while also providing positive social impact to surrounding communities and to the environment. Weller seeks to create incredible places and meaningful experiences for a diverse audience. With a growing international portfolio of distinctive mixed-use development projects and a proven track record of successful and celebrated ventures, Weller Development Partners delivers value and results, no matter the complexity or odds.

Independent Can Company has been at the forefront of can manufacturing and metal lithography in the United States since 1929. With a relentless focus on innovation, professionalism and customer-driven ethics, the business has expanded from its Belcamp, Maryland headquarters to four other locations nationwide. ICC’s team of forward-thinking product specialists do more than just sell cans; they engineer custom packaging solutions to elevate brands and drive success in diverse markets. From local favorites like Chesapeake Coffee Roasters to household staples like Mrs. Meyer’s, Independent Can has distinguished itself as a leading supplier of specialty cans around the world.

Laura Van Eperen, CEO of FOVNDRY and Chair of the Maryland Marketing Partnership

Office of Tourism & Film

Ad Campaign Delivers $34 to $1 ROI

The Maryland Office of Tourism continued its “You’re Welcome” messaging across all media platforms. Television spots featuring the state’s water-based experiences, outdoor collection, and culinary differentiators ran in target markets including the New York Metro region, Philadelphia, Harrisburg, Pittsburgh, Washington, D.C., and Baltimore. Print advertising in national and regional magazines, as well as companion radio, digital and social media campaigns, remained part of the media mix. The spring/summer campaign ran for more than three months, from May through August, and spurred more than $37 million in hotel room bookings. campaign-attributable hotel bookings increased year-over-year from a 23-to-1 ROI to a 34-to-1 ROI. In addition, the companion “Open Roads” campaign continued to run in both spring and fall months to encourage in-state travel via Maryland’s Scenic Byways.

Great Chesapeake Bay Loop

To conclude its current five-year partnership with the National Park Service (NPS), OTD expanded Great Chesapeake Bay Loop (GCBL) promotions with new advertising, online content, short-form videos and a 33-page inspirational travel guide featuring the state’s 39 certified Chesapeake Bay Storytellers. To leverage private sector tourism industry partnerships, OTD produced two in-person workshops reaching more than 120 stakeholders from the GCBL region. OTD, NPS Chesapeake Gateways Program, Maryland State Parks, and tourism industry partners presented during the daylong events sharing traveler motivations, interests, insights and impact. Attendees received a takeaway, “How to Maximize GCBL 2024 Opportunities Toolkit” containing new resources about GCBL, Chesapeake Gateways and ways to work with OTD. Workshop feedback indicates 80% of attendees are likely to implement one or more of the marketing strategies presented.

OTD Hosts Inaugural “Virtual Visit”

In June, more than 200 stakeholders attended the first-ever online “Virtual Visit” with the Office of Tourism Development (OTD). Attendees learned about Maryland’s visitor demographics along with OTD’s current and future promotional campaigns, key emerging initiatives, and ways to promote their businesses, events, and packages.

In a post-event survey, 97% of participants were either satisfied or extremely satisfied and shared takeaways, such as plans to implement ideas learned, including adding hashtags on social media, building

deeper connections with their DMO, using tools and resources to get information, and deals and events listed on VisitMaryland.org. Resources and recordings from the Virtual Visit are available on Industry.VisitMaryland.org.

Maryland Hosts Southeast Travel Counselors Alliance

In FY24, Maryland hosted its first Southeast Travel Counselors Alliance (STCA) in Annapolis. This influential marketing alliance gathers annually to discuss lessons learned and establish best practices on how to serve traveling customers through “coopetition,” a philosophy underscoring that serving travelers encompasses more than any one state or location. For this year’s meeting, 30 destinations from eight states addressed how to enhance Welcome Center programs resulting in more first-time and repeat visitors. Additionally, attendees learned about what is new in each destination as a method to better serve all

customers, not just those seeking jurisdictional information.

International Underground Railroad Month

September 2023 marked the fifth anniversary of the international recognition of Underground Railroad Month. Maryland commemorated the anniversary at the National Aquarium in Baltimore, the sight of one of Harriet Tubman’s most ingenious escapes, and unveiled new interpretive exhibits which direct visitors to Underground Railroad sites and walking tours as well as a download for the Pathways to Freedom Travel Guide.

International Underground

Railroad Month is a catalyst for the tourism industry to maximize their opportunity to inspire multi-night travel to Underground Railroad sites, events and programs.

In FY24, Maryland’s tourism industry created new events and partnerships, including a night hike at Elk Neck State Park to

experience navigation by the stars, a narrated Underground Railroad ferry tour of the Chesapeake and Delaware Canal in Chesapeake City, and guided Underground Railroad kayak tours of North East Creek. Industry enthusiasm for International Underground Railroad Month also resulted in a new National Park Service Network to Freedom site in Cecil County.

Social Media Success

Social media campaigns on OTD’s Facebook and Instagram channels were an integral part of major seasonal and special campaigns, resulting in thousands of views and new followers. The social media strategy included #MarylandMondays, a weekly giveaway promoting major events and attractions that drive overnight stays. The strategy also involved participation in trending national and local holidays to keep Maryland’s tourism products relevant to followers, along with support for Maryland Fleet Week & Flyover Baltimore.

Public Relations

In FY24 Tourism’s Public Relations dollar equivalencies totaled $55 million in earned media and 2,590 travel article placements. Much of the media attention to the state can be attributed to both domestic and international travel demand rebounding, major multi-day events returning such as Maryland Fleet Week & Flyover Baltimore, and cultivating strong media relations with top-tier journalists.

Office of Tourism & Film

Domestic media placements were earned in national media outlets including Southern Living, Conde Nast Traveler, Garden & Gun, Forbes, USA Today, AAA World, National Geographic Traveler, MSN, Yahoo! News, The Baltimore Sun (syndicated to all Tribune papers), and Food & Wine. International coverage through our partnership with Capital Region USA’s global media connections and Reach Global, garnered placements in outlets such as The Globe & Mail, The Toronto Sun, The Sun, Daily Mail, LoveExploring, and Wanderlust. Broadcast segments secured throughout the year included NBC News, Today Show and all major Baltimore, Washington, D.C., and Delmarva stations. Multiple media familiarization tours covered themes such as the Great Chesapeake Bay Loop,

Underground Railroad, Scenic Byways, Year of Civil Rights, trails and outdoor recreation, culinary and more.

Hollywood in Maryland

Two major productions, “Lady in the Lake” (AppleTV+) starring Natalie Portman and “Lioness” (Paramount Plus) starring Nicole Kidman, were issued their final tax credits in FY24. These two productions averaged $128 million in Maryland spend and 1,027 Maryland hires, and purchased or rented goods or services from an average of 2,389 Maryland businesses. Eight other productions also were issued final tax credits. Three productions applied and qualified for the Production Activity Tax Credit and eight productions qualified for the Small Maryland Film Tax Credit in FY24.

Driving Business During the Shoulder Season

The Maryland Office of Tourism continued its “Welcome Home for the Holidays” digital marketing campaign encouraging holiday season visitors to stay in a Maryland hotel rather than on the family couch. Tourism partnered with the hotel community to develop holiday overnight packages along with other seasonally related deals and discounts for restaurants and attractions. Bookings were tracked through Adara and TripAdvisor.

Music at the Chestertown Art Walk, sponsored in part by the Kent Cultural Alliance, the arts agency for Kent County.

Maryland State Arts Council

The arts celebrate Maryland’s diversity, connect our shared humanity, and transform individuals and communities. In FY 2024, the Maryland State Arts Council (MSAC) continued its 57-year commitment to advancing the arts in Maryland by distributing $31.9 million, a record level of regular grant funding, to arts organizations, arts programs and independent artists in all jurisdictions in Maryland. These investments ensure the health of Maryland’s arts sector, a vital part of the state’s creative economy.

In FY 2024, MSAC grants:

• supported the general operations of large and small arts organizations, county arts agencies, regional folklife centers and Arts and Entertainment districts;

• funded capital projects through a new program supporting arts infrastructure;

• placed teaching artists in schools and community settings to inspire lifelong learning;

• helped Maryland communities envision, create and maintain public art;

• provided living and working expenses to independent artists;

• raised the profile of, and provided resources for, traditional art forms;

• assisted artists with professional development; and

• contributed to Maryland’s top ranking in public support of the arts nationwide

In short, MSAC helped to maintain a vibrant arts ecosystem and access to arts experiences for all Marylanders.

Increasing demand

The success of MSAC’s outreach efforts when distributing FY 2023’s one-time state supplemental funding package resulted in significantly increased numbers of grant applications throughout FY 2024. Compared to figures from just two years earlier, Grants for Organizations (GFO), a flagship offering that provides operating support, awarded 291 grants, representing an 11% increase; Creativity, a project and operating grant program serving smaller organizations and artists, awarded 244 grants, for a 15% increase; and the Professional Development Opportunity grant, which helps artists and organizations grow their entrepreneurial and operational skills, grew to 85 grants for a 26% increase. Finally, Arts in Education, supporting teaching artists through a roster and dedicated funding stream, grew 33% to award 200 grants.

“MSAC is an ideal partner. They have been encouraging and informative. Working with them has refreshed my understanding of what working with a state council can be like.”

Harold McGregor, writer & musician (Prince George’s)

Maryland State Arts Council

In terms of overall demand for arts funding, the increase is even more remarkable. The total number of grant applications received in FY 2024 was 4,152 — more than double the number received in FY 2022!

Arts Capital

New this year was the Arts Capital program, aimed at giving access to State Capital funding for building or renovation projects for small organizations offering arts-based cultural education or experiences to the public. The statute creating the program allocates $3 million in funding annually through FY 2029.

Under the leadership of Public Art Program Director Ryan Patterson, Arts Capital came to life through a public-led program creation process. The result was a clear and transparent grant process and ultimately, state capital funding for 14 projects that will improve or produce complete, usable and accessible arts facilities. Wraparound services provided by MSAC included a professional development series assisting organizations in developing capital project strategies.

Arts Relief

Post-pandemic wellness has been an important concern in the arts sector, as organizations continue to adapt to new patterns of audience engagement. Part of MSAC’s work in responding to this reality was in administering the last stages of the previous year’s Arts Relief funding package, which was designed to support ongoing arts activities in FY 2024. Funds were disbursed through the temporary Arts Relief General Operating Support program, with broad allowances for spending on general operations, debt servicing, allocations to cash reserves and

“Funding has allowed us to expand coverage across the Eastern Shore of Maryland, providing meaningful, hands-on art activities to financially disadvantaged and minority residents of remote rural communities. Our ongoing arts education programming continues to succeed at bringing together a diverse cross-section of the local population from Talbot, Dorchester, Caroline, Queen Anne’s and Kent counties.”

Choptank Tolomato Legacy Project (Queen Anne’s)

Maryland State Arts Council

contributions to endowments. These funds have helped Maryland’s arts organizations navigate their new reality and emerge as strong as possible.

Land Acknowledgement Project

A success beyond MSAC’s grantmaking was the recognition of its Land Acknowledgement Project with a Diversity, Equity and Inclusion Agency Award from the National Assembly of State Arts Agencies, the professional association for state arts councils. The project was developed in consultation with tribal groups, with facilitation by Folklife Specialist Ryan Koons. It includes a statewide Indigenous land acknowledgement statement read aloud at the beginning of all MSAC public meetings and a resource guide with an overview of land acknowledgement statements and how arts agencies and artists can ethically create their own.

Arts Vibrancy Index

In spring of this year, Maryland’s arts sector got the good news that the state is among the most arts-vibrant in the nation, with a top ranking in public support of the arts statewide. These recognitions were part of the Arts Vibrancy report by SMU DataArts, a national arts research group. Rankings were determined based on levels of supply, demand and government support for the arts across the country.

MSAC is proud to be a part of Maryland’s arts ecosystem and wishes to recognize the many artists and organizations that make Maryland an outstanding place to live and work!

“Receiving this grant at the age of 70 has been a dream come true. It is

a testament to the

belief that creativity knows no age limits, and your dedication to fostering a vibrant arts community in our state has made this possible.”

Diann Marshall (Prince George’s)

Legislative Recap | 2024 Session Review

Commerce Budget and Legislative Priorities

Commerce Budget Overview

The FY 2025 Commerce Operating Budget is $278.1 million:

• $17.5 million for Advantage Maryland (Maryland Economic Development Assistance Authority and Fund or MEDAAF)

• $37.5 million for the More Jobs for Marylanders Tax Credit Reserve Fund

• $19.3 million for the Maryland Small Business Development Financing Authority (MSBDFA)

• $12 million for the Maryland Biotechnology Investment Tax Credit Reserve Fund

• $31 million for the Maryland State Arts Council

• To this total, an additional $1.4 million was added by the legislature for grants to specified entities

• $22 million for the Maryland Tourism Development Board and the Office of Tourism Development

• $20 million for the Small, Minority, and Women-Owned Businesses Account (SMWOBA)

• $25.9 million for the Cannabis Business Assistance Fund (CBAF)

Administration and Department Legislative Priorities

CH 6 - Families Serve Act of 2024

Authorizes employers to grant a preference in hiring and promotion to spouses of eligible service members. The bill also requires the appointing authorities

in the Executive Branch of State government to apply a credit of 10 points on a selection test for applicants that are eligible military spouses and veterans of any branch of uniformed services.

CH 7 & CH 8 - Time to Serve Act of 2024

Increases, from 15 to 30, the maximum number of days of disaster service leave that employees in the Executive Branch of State government may use in a 12-month period. Increases, from 15 to 30, the maximum number of days of paid leave the Secretary of Budget and Management may provide for uniformed services training or active uniformed services duty in a reserve unit of the armed forces or organized militia.

CH 68 & CH 69 - Small, Minority, and Women-Owned Businesses

Account - Alterations

Alters the type of financial assistance that may be provided through the Small, Minority, and Women-Owned Businesses

Account in the Department of Commerce to allow grants of up to $10,000 in conjunction with a loan.

CH 70 - Maryland Entertainment Council - Alterations

Reestablishes and codifies the Maryland Entertainment Council to be the Maryland Entertainment Industry Council within the Department of Commerce to assess the State’s existing assets, study certain existing State programs, agencies, and offices,

and make recommendations on the development of a strategic plan for Maryland’s future in the entertainment industry.

CH 71 - Economic DevelopmentMaryland Economic Development Commission - Alterations

Alters certain requirements relating to industry representation on the Maryland Economic Development Commission and the purpose of the Commission; repeals a requirement that the Office of International Trade report to the Commission twice a year; and repeals a requirement that the Maryland Tourism Development Board submit certain plans to the Commission.

CH 72 - Maryland Military Installation Council - Membership

Alters the membership of the Maryland Military Installation Council to include the Maryland Secretary of Labor or a designee, the State Superintendent of Schools or a designee, and a spouse of a service member.

CH 123 - Maryland Community Investment CorporationEstablishment (Housing and Community Development Financing Act of 2024)

Establishes the Maryland Community Investment Corporation as an independent unit of the State to apply for designation as a Community Development Entity, apply for an allocation of federal New Market Tax Credits, and make investments

and financial assistance available to low-income communities in the State. The bill also expands the eligible uses of the Strategic Demolition and Smart Growth Impact Fund to include credit enhancement for certain projects.

CH 411 - Certificate of Public Convenience and Necessity and Related Approvals - Definition of Generating Station (Critical Infrastructure Streamlining Act of 2024)

Allows generating units or facilities that meet certain requirements to be constructed without obtaining either a Certificate of Public Convenience and Necessity (CPCN) or approval to construct from the Public Service Commission under the CPCN exemption process. Requires owners or operators of those generating units or facilities to submit specified reports to the Maryland Energy Administration. Requires the Comptroller to distribute specified corporate income tax revenues attributable to qualified data centers that are operational on or after January 1, 2026 to the Strategic Energy Investment Fund.

CH 412 & CH 413 - State Government - Permits, Licenses, and Certificates - Processing (Transparent Government Act of 2024)

Requires each principal department and independent unit of State government to create a catalog containing specified information of each type of permit, license, or certificate it issues by October 1, 2024. By December 1,

2024, each principal department and independent unit must post on its website an interim description of the application process for each permit, license, or certificate it issues with a complete description updated annually. Establishes the Government Efficiency Commission to enhance government efficiency and economic competitiveness by monitoring efficiency in the processing of permits, licenses, and certificates.

CH 710 & CH 711 - Economic

Development - Entrepreneurial Innovation ProgramsEstablishment (Pava LaPere Legacy of Innovation Act of 2024) Establishes the Pava LaPere Innovation (PLI) Acceleration Grant Program and the Baltimore Innovation Initiative (BII) in the Maryland Technology Development Corporation (TEDCO) to provide funding for certain technology-based startup companies. The Governor must include an annual appropriation for the PLI Program in the annual budget bill, and for FYs 2025 & 2025 the Governor must include an appropriation of $1.5M for the BII Pilot Program. Also repeals the annual $1M mandated appropriation for the Business Telework Assistance Grant.

Other Bills of Interest

CH 2 & CH 3 - Maryland Protecting Opportunities and Regional Trade (PORT) Act

Requires the Maryland Department of Labor and the Department of Commerce

to establish temporary relief programs to provide assistance to specified individuals and businesses affected by the reduced operations of the Port of Baltimore as a result of the collapse of the Francis Scott Key Bridge on March 26, 2024. The bill includes a number of other measures relating to the collapse, including the establishment of the Fallen Transportation Workers Scholarship Program and related special fund; the waiver of unemployment insurance benefits charges and exemption from work search requirements in specified circumstances; a $1.0 billion increase in Maryland Transportation Authority debt capacity, subject to existing bond issuance requirements; and specified personal income tax subtraction modifications.

CH 239 & CH 240 - Economic

Development - Tourism ZonesDesignation and Benefits

Authorizes the governing body of Baltimore City, counties and municipalities to designate tourism zones, exempt the gross receipt of any admissions or amusement charge levied by a qualifying tourism enterprise in a tourism zone from admissions and amusement taxes, and grant property tax credits against county and municipal real and personal property taxes to qualifying tourism enterprises located in a tourism zone.

CH 409 - Maryland - Ireland Trade

Commission - Establishment

Establishes the MarylandIreland Trade Commission in the

Legislative Recap

Department of Commerce to study and make recommendations regarding bilateral trade relations and investment opportunities between Maryland and Ireland, initiating joint action on policy issues of mutual interest, encouraging mutual economic support, and other issues. The Commission is required to report its findings and recommendations to the Governor and the General Assembly by December 1, 2025 and terminates September 30, 2026.

CH 449 - Economic Development - Strategic Infrastructure Revolving Loan Program and Tax Increment Financing

Establishes the Strategic Infrastructure Revolving Loan Program and Fund in the Maryland Economic Development Corporation (MEDCO) to make loans for targeted investments in real estate and infrastructure projects located in sustainable communities, priority funding areas, and transit-oriented development areas to support transformative place-making, enhance transit-oriented development and community development, and achieve inclusive and equitable economic growth objectives. Also allows MEDCO to pledge specified alternative revenues under the Tax Increment Financing Act to secure the payment of debt financing service on bonds or MEDCO obligations, to support the Strategic Infrastructure Revolving Loan Fund, or for other specified purposes.

CH 474 - Maryland Clean Energy Center - Climate Technology Founder’s Fund

Establishes the Climate Technology Founder’s Fund (CTFF) in the Maryland Clean Energy Center to provide earlystage funding for start-up companies focused on qualified projects in climate technologies. Requires transfers from the Strategic Energy Investment Fund (SEIF) to the CTFF in fiscal years 2025 through 2028, and repeals existing transfers from the SEIF to the Small, Minority, and WomenOwned Businesses Account and the Employment Advancement Right Now program.

CH 505 - Winery and Vineyard Economic Development Grant Program - Modifications

Alters the Winery and Vineyard Economic Development Grant Program by removing the September 15 application deadline and December 15 grant award deadline to allow an individual or corporation who paid or incurred qualified capital expenses during the immediately preceding calendar year to submit a grant application for the full year’s expenses.

CH 613 & CH 614 - Arts Incubator Workgroup - Established

Establishes the Arts Incubator Workgroup to study how arts and cultural institutions can support local artists. The Maryland State Arts Council must provide staff for the workgroup. A preliminary report on findings is due by January 1, 2025, and a final report with recommendations is due by

October 1, 2025. The Workgroup sunsets December 31, 2025.

CH 622 & CH 623 - Economic Development - Maryland Aerospace and Technology Commission

Establishes the Maryland Aerospace and Technology Commission in the Department of Commerce to promote innovation in the fields of space exploration and commercial aerospace opportunities. Among other responsibilities the Commission must identify research and funding opportunities for the State, develop and annually update a strategic plan, designate aerospace and technology zones, partner with local communities, and develop educational opportunities. The Commission must submit an annual report by October 1 each year on its activities and strategic plan.

CH 635 - Baltimore Convention and Tourism Redevelopment and Operating Organization Task Force

Establishes the Baltimore Convention and Tourism Redevelopment and Operating Authority Task Force to study and make recommendations concerning the establishment of an entity or strategy to govern the renovation, revitalization, financing, and ongoing maintenance and management of the Baltimore Convention site and certain surrounding areas. The Task Force must report its findings by December 1, 2024, and terminates June 30, 2025.

Next Step Robotics’ device is designed to improve ankle function and restore mobility in patients recovering from brain injuries such as stroke or MS.

Financials

FY2024 Contract Awards and Procurement Activity Contract Awards

Minority Business Enterprises (MBE) Program

Total value of contracts awarded to MBEs

$ 6,673,447

Total value of all contracts awarded $ 8,608,967

MBE awards as percent of all contract awards 77.52%

Small Business Reserve (SBR) Program

Total procurement payments to SBR contractors $ 1,269,765

Total procurement payments $ 5,154,530

Payments to SBR contractors as percent of all payments

Tax Credits

Biotechnology Investment Incentive Tax Credit (FY24)

• 17 QMBCs assisted

• 91 investor applications approved

• $7,293,871 tax credits issued

• $19,020,358 investment leveraged

Innovation Investment Incentive Tax Credit (FY24)

• 1 QMTC assisted

• 6 investor applications approved

• $291,750 tax credits issued

• $1,022,621 investment leveraged

Buy Maryland Cybersecurity Tax Credit (FY24)

• QMCSs assisted 10

• QMCBs approved 28 (Including Recertification)

• Tax credits Issued $601,630

Enterprise Zone (EZ) Program

• 36 Number of enterprise zones as of December 2023

• 616 Number of businesses to receive real property tax credits in FY24

• $49M Total real property tax credits in FY24

Job Creation Tax Credit (FY24)

• 6 businesses certified

• 329 jobs created

• $26,205,185 total payroll

Research and Development Tax Credit (TY22)

• 185 businesses certified

• $2.125B total R&D expenses

• $12 million in credits awarded

One Maryland Tax Credit (FY22)

• 4 certificates issued

• $8,641,294 total credits awarded

• $11,718,942 total eligible project costs

• 114 jobs created

• $7,358,081 total payroll

More Jobs for Marylanders (FY24)

• 24 businesses certified

• 889 jobs created/2201 retained jobs

• $333,789,309 total payroll

City Garage in Baltimore provides best-in-class R&D/Lab/manufacturing capabilities for life sciences companies like Novel Microdevices, Inc. and Longeviti Neuro Solutions.