TEDCO launches $1M fund to help Maryland startups bridge the 'funding gap'

The Maryland Technology Development Corp. is launching a $1 million fund to help technology startup firms cover the gap between seed funding and venture capital investments. The Gap Investment Fund program was included in Gov. Larry Hogan's fiscal year 2018 budget. State-backed TEDCO will provide up to $500,000 in gap funding to Maryland startups to help with hiring, expanding technology, scaling a product and increasing market reach. (Balt. Bus. Journal)

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Sinclair acquiring New York-based television broadcaster for $240 million

Sinclair Broadcast Group Inc. announced Friday it will acquire Bonten Media Group Holdings Inc. in a $240 million all-cash deal. Already the largest owner and operator of television stations in the U.S., Hunt Valley-based Sinclair will add another 14 stations in eight markets reaching approximately 1 percent of households. The deal, expected to close in the third quarter, comes a day after the Federal Communications Commission loosened a regulation affecting how the agency calculates the audiences reached by broadcasters. (Balt. Bus. Journal)

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Maryland lost 7,200 jobs in March, even as workforce grew

After three months of significant job gains, Maryland lost 7,200 jobs in March even as more people joined the workforce, according to the latest federal jobs report. While the growing pool of people working or looking for work indicates rising confidence in the economy, economists said, the new estimates released Friday by the U.S. Labor Department show that hiring isn't quite so strong. The state's unemployment rate in March nudged up a tenth of a percent to 4.3 percent, still below the national rate of 4.5 percent. (Balt. Sun)

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Anne Arundel approves zoning for first marijuana dispensary

Anne Arundel County is one step closer to getting its first medical marijuana dispensary after approving a permit application for a site just outside Annapolis. Administrative Hearing Officer Douglas Clark Hollmann approved the application from Advanced Alternative Therapies LLC for the special exception needed to open a dispensary at 2029 West St. The building is currently home to a take-out pizza restaurant and a tattoo and body piercing shop. (Capital)

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David Smith's pay increases 13 percent during last year as Sinclair CEO

David D. Smith made $5.2 million in 2016, his last year as the CEO of Sinclair Broadcast Group Inc. Smith's compensation increased 13 percent from $4.6 million in 2015. Smith, who is now Hunt Valley-based Sinclair's executive chairman, was succeeded by Chris Ripley, in January. Smith had a $1 million salary and $4 million in stock option awards, according to a Securities and Exchange Commission filing on Friday. (Balt. Bus. Journal)

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ETC's Accelerate Baltimore awards $100,000 to maker of smart collars for pets

Barttron, a Baltimore company developing a smart collar for pets, won a $100,000 funding prize as part of Emerging Technology Centers' 2017 Accelerate Baltimore cohort. Accelerate Baltimore is a four-month program that aims to help startups develop their products or services to bring them closer to market. It is in its sixth year of operation and is backed by $800,000 in funding from the Abell Foundation. Each year, the program awards six companies $25,000 in seed funding. (Balt. Bus. Journal)

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Marriott executive addresses parking concerns related to company’s move to downtown Bethesda

Marriott International’s goal of getting half its 3,500 corporate employees to commute on public transportation should help ease the parking pressures created by its expected move to downtown Bethesda in 2022, a company executive said. Jim Young, Marriott International’s vice president of corporate facilities, answered questions about the hotel giant’s planned relocation Friday morning at the annual real estate update for the Greater Bethesda Chamber of Commerce. (Bethesda)

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BWMC: New power plant to save hospital $750K per year

Baltimore Washington Medical Center says its new power plant will reduce greenhouse gas emissions and save the hospital about $750,000 in annual energy costs. The cogeneration power plant — one of the first of its kind in the county — cost about $8 million and took roughly 14 months to install, hospital officials said. The plant began running in January and, after some tweaks, it's fully operational. (Capital)

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