Thursday, July 28, 2011

MD Ranked More Innovative than any Country

The Information Technology and Innovation Foundation released a 2011 report measuring each of the 50 states against 44 foreign countries and regions and found that nine states, including Maryland, would be ranked number one in innovation-based competitiveness if they were countries. The report noted that Maryland benefited from national laboratory funding and state programs to help transfer technology from labs into the marketplace. The study considered 16 key indicators, such as scientists and engineers, corporate and government R&D, and venture capital.

See the complete article and more in July's Economic Pulse-An Overview of Maryland's Economic Indicators at

Monday, July 25, 2011

Technology and Investor Forum, Marymount University September 13

The Frederick County Office of Economic Development will team up with the Mid-Atlantic Federal Lab Consortium to bring together a forum to host a group of financial professionals as well as researchers from federal labs/agencies, academia, economic development organizations, and private sector firms in the Washington Metro region of Maryland, Washington D. C., and Virginia that will highlight effective business strategies in technology development, as well as technology transfer. In addition the forum will focus on lessons learned, challenges, and opportunities in this economically active region.
A financial seminar in the morning will be followed by panels which will address technology and financial challenges and opportunities in the fields of biomedical/life sciences; electronics/IT cyber security; advance material sciences; and energy.

Forum registration fee of $25 includes refreshments and lunch. Registration deadline is Monday August 29, 2011. Register @ . If you have questions, please contact Mr. John Emond,, 202-358-1686.

Friday, July 15, 2011

Laurie Boyer Talks about Being Business Friendly!

Check out our own Laurie Boyer on Comcast Newsmakers giving an update Frederick County business friendly initiatives, social media, Business Appreciation Week and Frederick County farmers markets.​/video/NMFR0707LaurieBoyer_01.​wmv

Thursday, July 14, 2011

2011 Best Places to Work Campaign Underway

Do you love where you work? Then let us know! All employers & employees in Frederick County are encouraged to participate in the 2011 Best Places to Work Survey. The Frederick County Office of Economic Development, City of Frederick Department of Economic Development, Frederick County Workforce Services and the Frederick County Chamber of Commerce will be emailing a survey to nominate your business or company. The Best Places to Work campaign is part of a county-wide partnership between business, government, and the community dedicated to increasing quality of life opportunities for Frederick County employees.

For those businesses who may not receive the e-mail, the survey can be found online at and takes about 15 minutes to complete. The survey deadline is September 16, 2011.

Responses to the survey will be used to determine the 2011 Best Places to Work and will have four possible categories: Small Employer (1-10 employees), Medium Employer (11-50), Large Employer (51-200) and Major Employer (200+) and will be announced at the Awards Ceremony on Tuesday, October 18, 2011 at the Delaplaine Visual Arts Education Center. Winners will be featured in a local publication and qualified winners are automatically entered into the Chamber’s Summit Awards competition.

A qualifying business is any employer in Frederick County, including corporations, privately owned businesses, non-profit associations, and federal, state and local government agencies that meet the Family Friendly criteria, such as offering employees a cafeteria plan with flexible benefit spending, parental sick leave, or a flexible work schedule.

This year’s 9th Annual Best Places to Work campaign is sponsored by: Frederick County Office of Economic Development (OED), City of Frederick Department of Economic Development (DED), Frederick County Workforce Services and the Frederick County Chamber of Commerce.

For more information, please contact Frederick Economic Development at 301-600-1058 or 301-600-6360.

Thursday, July 7, 2011

$8 Million For Biotech Tax Credit in FY 2012 Draws More Than 180 Applications

July 07, 2011
Investors seeking a portion of the $8 million available in FY 2012 for the State’s popular Biotechnology Investment Incentive Tax Credit submitted more than 180 applications online within three minutes July 1, Maryland Department of Business and Economic Development (DBED) Secretary Christian S. Johansson announced today. The online system was launched last year to make the application process easier and more efficient and eliminate the need for investors and biotech firms to line up in person in advance as they had done in past years. The applications were taken on a first-come, first-served basis and investors will learn within 30 days if their prospective investment may be eligible for the credit. The tax credit program, which was first funded with $6 million in FY 2007, encourages investors to provide seed and early-stage funding to qualified, privately held Maryland biotechnology companies.
“Together, with the business community and industry stakeholders, we fought to maintain Maryland’s highly successful biotech tax credit at $8 million for FY 2012 and the program continues to see tremendous interest by investors,” said Governor Martin O’Malley. “The credit has become a lifeline for the State’s biotech companies, helping them to expand and add jobs and bring to the market many innovative and life-saving discoveries.”
“Maryland’s biotechnology tax credit is the most generous tax credit of its kind in the nation, reducing an investor’s risk by 50 percent,” said Dr. Judith Britz, Executive Director of the Maryland Biotechnology Center. “Since the process is driven by the company’s ability to attract investment, the market is dictating the winners. As word spreads, the demand for this tax credit continues to grow.”
In 2010, 19 Maryland biotechnology companies received investments from the program, which is a key part of the BioMaryland 2020 plan, the 10-year, $1.3 billion strategy for moving the State’s life sciences industry forward and investing in programs and infrastructure to position Maryland as a global powerhouse. Since it was first funded, the program has issued $32 million in tax credits, assisting more than 50 Maryland biotechnology companies and leveraging $64 million in private investment. For more on the program, visit Companies receiving investments from the program in 2010 and so far in 2011 include 20/20 Gene Systems (Montgomery County); A&G Pharmaceutical (Howard County); Akonni Biosystems (Frederick County); BioAssay Works (Frederick County); BioMarker Strategies (Baltimore City); Blue Torch Medical Technologies (Montgomery County); Clarassance (Montgomery County); Creatv MicroTech (Montgomery County); Corridor Pharmaceuticals (Baltimore County); CosmosID Inc. (Prince George’s County); FASgen (Baltimore City); Fyodor (Baltimore City); Gliknik (Baltimore City); InfraTrac (Montgomery County); Intelligent Substrates (Baltimore City); Noble Life Sciences (Montgomery County); Noxilizer (Montgomery County); Otraces Inc. (Montgomery County); Plant Sensory Systems (Baltimore County); Telcare (Montgomery County); Xcision Medical Systems (Howard County); and Zymetis (Prince George’s County)
Dr. Sharon Flank, CEO of InfraTrac, said the tax credit program has helped her market her company’s unique technology to analyze counterfeit drugs.
“We could have based our company in any jurisdiction, but we chose Maryland because of the tremendous support for young biotech companies,” said Dr. Flank. “As part of the State’s biotech community, we receive mentoring, training, showcases at conferences and access to funding through other programs of the Maryland Biotechnology Center. InfraTrac is proud to support the growth of biotech in Maryland, one job at a time.”
John Dwyer, chairman of Telcare Inc., said his company was able to raise more than $1 million of early stage equity capital last year through the biotech tax credit.
“The tax credit played a crucial role in motivating a number of individual investors to make their investment in an efficient and expeditious manner,” Dwyer said. “Because of this critical investment, Telcare developed the first wirelessly enabled blood glucose meter, attracted a Fortune 100 corporate investor and created a dozen new jobs.”
To qualify, companies are required to: be less than 15 years old; have their headquarters in Maryland; employ fewer than 50 people, and have a valid certification from the Department of Business and Economic Development. Investors are required to submit applications prior to making an investment. DBED reviews the applications and issues initial credit certifications within 30 calendar days. ABOUT DBED The Maryland Department of Business and Economic Development stimulates private investment and creates jobs by attracting new businesses, encouraging the expansion and retention of existing companies, and providing workforce training and financial assistance to Maryland companies. The Department promotes the State's many economic advantages and markets local products and services at home and abroad to spur economic development and international investment, trade and tourism. For more information, visit
ABOUT THE MARYLAND BIOTECHNOLOGY CENTER The Maryland Biotechnology Center (MBC), part of the Maryland Department of Business and Economic Development, is a newly created organization by Governor Martin O’Malley and the Maryland Life Sciences Advisory Board. The MBC is a portal to resources and coordinated programs of entrepreneur and biotechnology infrastructure development, workforce training, connection to federal facilities, and marketing Maryland’s bioscience community. For more information, visit
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We Want to Appreciate Our Frederick County Businesses!

Dear Frederick County Business:

Are you looking for a fantastic, free way to get the message out about your company's superior products or services? Sign up for Frederick County's Business Appreciation Week and spread the news!

The Frederick County Office of Economic Development is hosting its 11th Annual Business Appreciation Week. We want to hear about your business, thank you for being here, identify any concerns or potential issues you might have, and this year's event has a marketing twist--we also want to help market how fantastic your company is!

A small group of local ambassadors will make short visits lasting about 30-45 minutes to companies like yours all week long. Once Business Appreciation Week is over, the Office of Economic Development promotes your company using multiple media outlets and you're invited to attend our Annual Business Reception in November, the biggest Frederick County business networking event of the year.

Sign up today for three possible dates and times and we'll contact you in August with the exact date and time of your visit. Slots fill fast so please sign up by August 5th. We are looking forward to seeing you in September!

Register here: