Annual Business Reception

Frederick, MD – October 29, 2009 - The Frederick County Business Development Advisory Council (BDAC) and the Office of Economic Development (OED) held their Annual Business Reception last night at Dutch’s Daughter restaurant. Over 250 Frederick County business representatives, elected officials and community partners attended this year’s event. A brief awards ceremony was held honoring three outstanding Frederick County companies. Attendees networked with one another and visited booths provided by our sponsors.

The first award was presented to a long time Frederick County company that has strategically expanded and taken on a completely new line of work to embrace the future. The 2009 Frederick County Creative Business Planning Firm of the Year was presented to Canam Steel Corporation. The second award was given to a local company not typically seen as green but has employed green practices within their organization and for their commitment to meet and exceed environmental standards. The 2009 Frederick County Creative Green Stewardship Firm of the Year went to Givens Collision Repair Center, Inc. The last award was given to a Frederick County company that was recognized for their creative and progressive workforce practices. The 2009 Frederick County Creative Workforce Support Firm of the Year went to Widearea Systems, Inc. Widearea Systems was also recognized at the reception for graduating from the Frederick Innovative Technology Center, FITCI.

This year’s Platinum Event Sponsor was SAIC-Frederick, Inc. Additional support was provided by the following sponsors: Corporate Occupational Health Solutions, LLC, Frederick Innovative Technology Center, Matan Companies, The Columbia Bank, Frederick County Bank, Frederick County Department of Solid Waste Management, Frederick County Workforce Services, The City of Frederick Department of Economic Development, Canyon Construction Corporation, Imagination Center Inc. and the Frederick County Government – FCG TV.

Journey Through Hallowed Ground

An apple orchard in Thurmont was the setting for a regional ceremony... all part of the National Scenic Byway designation for Pennsylvania, Maryland and Virginia. The project is importaint to Frederick County's economy and tourism.

To read the full story, please click here.

County Offers Stimulus Bond Allocation to Municipalities

The Frederick Board of County Commissioners is offering federal stimulus bond financing allocations to the 12 local municipalities. Part of the Federal American Recovery and Reinvestment Act of 2009 (ARRA) created Recovery Zone Economic Development bonds and Recovery Zone Facility bonds that provide tax incentives for state and local governmental borrowing at potentially lower costs. The bond allocations are aimed at promoting job creation and economic recovery in targeted, economically distressed areas.

Frederick County has been given the opportunity to utilize a $5.7 million Recovery Zone Economic Development Bond allocation and an $8.6 million Recovery Zone Facility Bond allocation. While the county government does not believe it can utilize the bond allocations, based on the established IRS criteria, the Board of County Commissioners has solicited requests of interest from each of the 12 municipalities to determine if any of the incorporated areas would like to pursue utilizing the bonds.

FITCI Continues to Grow and Help Local Businesses

The Frederick Innovative Technology Center, Inc (FITCI) recently announced that it would be consolidating it's space at Hood College to it's 2nd location on Metropolitan Court. "The move is part of a strategic plan to eventually relocate to the Riverside Research Park", said Mike Dailey, FITCI executive director. "We do expect to lease a larger facility that will provide not only incubator space, but also mezzanine space," he said.

Since it's inception in 2004, FITCI has offered local entrepreneurs facilities, services, and an environment in which they can prosper. The location at 4539 Metropolitan Court in Frederick, occupies 15,000 square feet, supporting up to 30 clients employing nearly a hundred people at any given time. For more information, visit www.fitci.org.

FITCI FACTS:
• 180+ new jobs created in 4 years
• In 2007:
–87% of employees held BAs or greater
–50% of employees hold Ph.Ds
–Average salary per FITCI client employee is more than $75,000/year
–Tenant companies and graduates secured over $13 million in outside investment capital and government grants

Family Festival @ Farm - Special Announcement

The wet weather has caused some farms to cancel their activities for the weekend. Please call the participating farms (from the web link below) before heading out this weekend.

http://tinyurl.com/yj45s96

DC Metro and Baltimore Areas Rank Among CNN Money's Top 10 for Starting a Small Business

According to CNN Money.com, the Washington, DC metro area ranks #6 in the Nation for the best places to launch a small business. Closely behind is Baltimore ranking #10. Frederick County is fortunate to be positioned within an hour's drive of both major metro areas. To read the full story, please click here.

Local Companies Cite Quality of Life

Frederick County’s “Quality of Life” was the top benefit listed by dozens of local businesses in a recent informal poll. The beauty of the Catoctin Mountains, the abundance of rolling farmland, the thriving downtown commercial district and the quaint charm of historic small towns were all mentioned as positive attributes for conducting business in Frederick County.

Business Appreciation Week is an annual event coordinated by the Frederick County Office of Economic Development (OED) as a way to thank local businesses for all that they contribute to the local economy and community in general.

Big News for NCI Project in Frederick

The National Cancer Institute's proposed $200 million dollar facility at Riverside Research Park in Frederick is moving forward. For details, read the attached FNP article: http://bit.ly/herzM