O’Malley sets 29% minority goal for state contracts

The O’Malley administration today upped its “aspirational” goal for minority participation in state-funded contracts from 25% to 29%, with the governor and Lt. Gov. Anthony G. Brown lauding the effort in a press release. (Brew)

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Wells Fargo layoffs won't affect Baltimore-area employees

Wells Fargo & Co. plans to lay off 2,323 people in its mortgage operations, but none in the Baltimore area. The San Francisco-based bank Wells Fargo (NYSE: WFC) told employees of the layoffs on Wednesday, the Charlotte Business Journal reported. (Balt. Bus. Journal)

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TeleCommunication Systems lands $2.8M army deal

Annapolis mobile communications firm TeleCommunication Systems Inc. received $2.8 million in incremental funding from the U.S. Army to deliver Internet service to soldiers on the battlefield. (Capital)

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ETC signs first tenants for new Highlandtown space

The Emerging Technology Center (ETC) has signed its first five tenants for the incubator’s new location in Highlandtown. The ETC will be moving out Canton, where the incubator has been based since 1999, to the King Cork and Seal Building at 101 N. Haven St. when its lease ends in October. The first tenants in the new space are companies that will be moving from ETC’s Canton office. (Balt. Bus. Journal)

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Baltimore Innovation Week spotlights industry 

If asked to name America’s biggest tech hotspot, many people might say Silicon Valley; a few could offer Boston’s Route 128. (Daily Record)

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August 21 // City poised to grant job-creation extension to Morgan Stanley

In return for the promise to bring another 650 jobs to Baltimore, city leaders on Wednesday are poised to give financial services giant Morgan Stanley more time to meet the terms of a $3.25 million loan forgiveness program. The Board of Estimates vote comes amid public outcry over the city's plan to grant millions of dollars in aid to the $1.8 billion Harbor Point development, but some critics of that plan say the Morgan Stanley deal provides a proven return on investment. (Balt. Sun)

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Grand Prix of Baltimore expects sanctioning deal soon for 2014 race

Grand Prix of Baltimore officials expect to have sanctioning deals for the 2014 race in place within the next 30 days. Race On LLC is in talks with IndyCar and American LeMans on renewal agreements with the two racing circuits, Race On LLC general manager Tim Mayer and managing partner J.P. Grant said. (Balt. Bus. Journal)

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David Tufaro planning $20M cotton mill conversion near Jones Falls

Developer David Tufaro is eyeing a second mill conversion in a bid to enliven the former industrial area that runs along the scenic Jones Falls. Tufaro’s team at Terra Nova Ventures LLC is laying plans for converting the Whitehall Cotton Mill at 3300 Clipper Mill Road to a mixed-use project that would include 50,000 square feet of restaurant, retail and office space and 27 second- and third-floor apartments. (Balt. Bus. Journal)

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