Economic Development News
Thursday, April 20 2017
Manufacturing Support Industries Will Expand Its Operations in Salisbury to Increase Production
Baltimore, MD — Manufacturing Support Industries, Inc. (MSI) a manufacturer of precision components for the defense industry, is expanding its operations in Salisbury. As part of a strategic affiliation with Craig Technologies in Seaford, Del., a leading manufacturer of precision ground plastic balls and custom injection molded parts, product lines are being integrated at MSI’s Salisbury facility, which will add 42 new jobs over the next three years.
“We have always been proud to produce quality components for the Department of Defense,” said MSI President Robert Correa. “These investments will allow us to continue this important work well into the future.”
“We are expanding the capabilities of MSI,” said Craig Technologies President Don Hollenbeck. “The integration of our tool and die facilities and our molding capabilities coupled with the machining capabilities of MSI will allow MSI to become more competitive.”
Thursday, October 20 2016
New state-of-the-art facility in downtown Bethesda will house about 3,500 corporate jobs, and solidify iconic company’s presence in state for decades
Baltimore, MD -- Marriott International, Inc., the world’s leading hotel company, announced plans to relocate its global corporate office to a state-of-the-art, build-to-suit $600-million facility to be located in downtown Bethesda in Montgomery County. The county has been Marriott’s home for more than 60 years. The new complex will house more than 3,500 employees in approximately 700,000 square feet of leased office space. The company is continuing its consideration of several sites in downtown Bethesda, and is expected to select a final site in the first half of 2017. Marriott plans to occupy the new space before the expiration of its current lease at 10400 Fernwood Road in late 2022. Marriott also announced that a 200+ room, Marriott-branded hotel will be built on the site.
As part of the announcement, Marriott President and CEO Arne Sorenson said, “Marriott has been headquartered in Montgomery County, Maryland for more than 60 years and we intend to remain close to our roots.
Friday, April 22 2016
One of Region’s Oldest and Largest Commercial Real Estate Firms Picks Bethesda for Future Growth
Baltimore, MD -- The Donohoe Companies, one of the region’s oldest family-owned commercial real estate companies, is relocating its corporate headquarters as well as its construction, real estate, hospitality, and development divisions from Washington, D.C. to Maryland. The 132-year old company has signed a lease for office space along Wisconsin Avenue in Bethesda, will move 240 employees to Maryland later this year, and plans for continued job growth companywide.
“Our continued growth and success has paved the way for expansion into larger, new, vibrant offices in Montgomery County’s urban core – Bethesda,” said Chris Bruch, president and chief operating officer of The Donohoe Companies. “With this move we are proud to plant roots in Bethesda, a thriving business district, as well as maintain a significant presence in the District where the business began in 1884.”
Friday, April 22 2016
Global linen and uniform rental service hired 40, plans to add 30 more jobs in the state
Monday, December 14 2015
Wedgewood West is a six building park totaling 675,000 square feet of 30’ clear warehouse space in Frederick, Maryland
Friday, October 16 2015
Charles County, MD -- The Department of Economic Development announced it will develop a five-year Charles County Economic Development Strategic Plan, in partnership with Development Counsellors International (DCI) and Garner Economics LLC. The purpose of the plan is to provide the county with an action plan to improve business competitiveness, leverage the county’s assets to strengthen existing businesses, and identify new investment opportunities.
“Charles County has immense potential for economic prosperity and growth, but we need concrete action steps to ensure our efforts have continuity and maintain momentum,” said Darrell Brown, director for the Department of Economic Development. “The economic development strategic plan will prioritize where we place our future resources, and it will provide the roadmap necessary to stay on course.”
Wednesday, October 14 2015
Frederick, MD -- Matan Companies, one of the region’s premier commercial real estate and development firms, announced that it has broken ground on a new 20,750 square foot, two-building Class A retail project at its Westview South campus in Frederick.
Monday, October 05 2015
Frederick, MD -- Last Thursday, by a vote of 5 to 0, the Mayor & Board of Frederick City approved the rezoning and master plan for Matan Companies’ Renn Property – a mixed-use project consisting of 1,050 residential units, 105,000 square feet of retail, and 73 acres of dedicated parkland – located adjacent to the Carroll Creek Project and the Linear Park in Downtown Frederick.
“We are thrilled with the vote, this is a major step forward for the city of Frederick,” said Mark Matan, Principal for the Matan Companies. “The Renn Farm rezoning represents the culmination of over 10 years worth of public and private efforts to create a revitalized Downtown with a major walkable neighborhood.”
Monday, June 15 2015
(Pictured left to right are Pete Ireland, Project Manager and Karl Morris, Director of Development)
Wal-Mart Slated to Open Doors in Early Fall of 2016
Frederick, MD -- Construction is currently underway for the new 190,000 square foot Wal-Mart Supercenter, to be built in Frederick on the northwest corner of Monocacy Boulevard and Route 26.
Tuesday, February 24 2015
Gaithersburg, MD -- The U.S. Commerce Department’s National Institute of Standards and Technology (NIST) announced the award of new cooperative agreements to 10 nonprofit organizations and universities to manage Hollings Manufacturing Extension Partnership (MEP) centers. NIST’s MEP program helps small- and mid-size manufacturers create and retain jobs, increase profits and save time and money. In an open competition, the existing MEP centers in Colorado, Connecticut, Indiana, Michigan, New Hampshire, North Carolina, Oregon, Tennessee, Texas and Virginia, were selected to receive a total of $26 million in federal funding, an increase of about $10 million or nearly 60 percent. The funding will allow the centers to reach new customers and offer new services.
“We are excited to award new agreements that bring increased funding levels to better meet the needs of manufacturers in these 10 states,” said Acting Under Secretary of Commerce for Standards and Technology and Acting NIST Director Willie May. “These awards will allow the centers to help more manufacturers reach their goals in growth and innovation, which will have a positive impact on both their communities and the U.S. economy.” Read Full Story...