Thursday, January 19, 2012

The State offers Financial Help to Businesses

The state is working to help buisnesses that may not qualify for traditional bank financing.
The Maryland Department of Business and Economic Development is encouraging businesses to look at four available programs, which will receive a total of $23 million in federal funds through the Small Business Jobs Act.
The four programs are:
 The Maryland Small Business Development Financing Authority, which provides credit guarantees to small firms that may not meet established credit criteria.
 Maryland Industrial Development Financing Authority, which provides loan guarantees.
 Maryland Venture Fund, which invests in early stage businesses to help with the cost of bringing new products to the market.
 Neighborhood Business Works, which provides gap financing to new or expanding small businesses and nonprofits in sustainable communities.

Information on all programs is available at

Friday, January 13, 2012

Frederick Works! One Job at a Time

The Frederick Board of County Commissioners (BOCC) yesterday announced a new initiative to boost the local economy from Frederick County Workforce Services and the Frederick County Workforce Development Board.

The county will partner with the Frederick County Chamber of Commerce, City of Frederick Economic Development Department and Frederick County Economic Development Office to launch Frederick WORKS! One Job at a Time, an initiative that encourages businesses to be part of the unemployment solution by filling at least one new job in 2012.

Championed by the Board of County Commissioners, Mayor Randy McClement of The City of Frederick and local municipality leaders, Frederick WORKS! One Job at a Time is modeled after similar programs in communities throughout the United States that have been successful in generating new job opportunities and getting the unemployed back to work. According to economists, each new employee added to the workforce increases the gross domestic product on average by $100,000. Impact at the local level has the potential to be substantial and lasting.

Board President Blaine Young commented, “If each business in Frederick County were to hire just one person this year, the economic impact would be enormous. Even if only a small portion of our businesses hired just one person this year, there would still be a significant and measurable impact on our local economy. We commend Workforce Services and our partners for launching this initiative and furthering this board’s ‘business-friendly’ strategic goals.”

By publicly recognizing employers that have hired or plan to hire in 2012, Frederick WORKS! One Job at a Time partners hope to bring attention to the fact that businesses are hiring in Frederick. “This can serve to boost the local economy in yet another way through a shift in perception – a positive momentum – that can begin to increase overall consumer and investor confidence,” Director Laurie Holden of Workforce Services explained.

Workforce Development Board President Terry O’Malley, vice president of Human Resources at Frederick Memorial Hospital, is eager to recognize companies that want to make an impact on the local workforce and economy. “There are approximately 8,500 businesses in Frederick County. The goal of this campaign is to have at least 1,000 of those businesses participate – about 12 percent of all Frederick County businesses,” stated Mr. O’Malley.

Businesses that would like to join the One Job at a Time initiative and become a part of the solution can complete and submit a simple form through the Frederick County Workforce Services website at

The general public is also welcome to visit to learn more about this effort, including program updates and a list of participating employers. All are invited to follow the initiative on Twitter: @FredWORKSOneJob and on Facebook by searching for the “Frederick WORKS! One Job at a Time” Community Page.

Maryland is #1 again!

This week, we received the great news that Maryland's public schools were named #1 in the country for the fourth year in a row by Education Week Magazine. Thank you to our Frederick County Public Schools students, parents and educators for being a part of this extraordinary effort!..