Tax incentive could boost investment in Hagerstown, Washington County

Some local developers and investors heard about new incentives designed to help economically distressed communities, including parts of Washington County. The new federal Opportunity Zone program is part of the tax reform act signed by President Donald Trump in December 2017. The program provides a series of incentives for people to invest in businesses or real estate within the zones. In Washington County, five census tracts, one near Williamsport and four within Hagerstown, have been designed as opportunity zones. (Herald-Mail)

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November 2 // Developers break ground on mixed-income apartments in Owings Mills

Enterprise Homes and Pax-Edwards broke ground Thursday on Red Run Overlook, a new apartment complex in Owings Mills that aims to provide housing for those coming to the area for jobs. The site will include 72 mixed-income apartments in a suburban surrounding, near bus lines, the Metro station in Owings Mills and Interstate 795. Several public officials who attended the ground breaking praised the project for providing affordable housing that can help keep the economy growing. (Balt. Sun)

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Light City, Baltimore Book Festival moving to November in 2019

Two of downtown’s most popular festivals, Light City and the Baltimore Book Festival, will be moving to November in 2019. The two festivals will be strung together as a 10-day celebration beginning next Nov. 1, officials with the Baltimore Office of Promotion and the Arts, which produces both, announced Thursday. In previous years, the festivals had been held in late March/early April (Light City) and September (the book festival). By moving them to the same month and having them run over successive weekends, “we bring the firepower of the prominent authors we bring to the book festival to the phenomenal impact of the artists we bring to Light City,” said Donna Drew Sawyer, CEO of BOPA. (Balt. Sun)

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2019 Preakness Stakes tickets go on sale as future of Pimlico remains in discussion

Tickets are now on sale for the 144th Preakness Stakes at Pimlico Race Course as the Baltimore landmark faces an uncertain future. Next year's race, the second leg of horse racing's Triple Crown, will take place May 18. Stronach Group, owner of the Preakness and Pimlico, has been mulling whether to move the annual event to its other facility, Laurel Park in Anne Arundel County, in favor of a newer and modernized location. (Balt. Bus. Journal)

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Maryland launches training program to attract Israeli health startups

Maryland has launched a new pilot training program designed to help Israeli health startups expand their companies to the state. MarketReach America will bring 15 to 20 companies in the medical device and digital health sectors from Israel to Maryland for two weeks of training in May of next year. They will learn about breaking into the U.S. market by working with medical institutions and federal research and regulatory agencies. (Balt. Bus. Journal)

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Maryland's third Startup Grind chapter to launch in Frederick

Maryland is launching a third chapter of Startup Grind, an entrepreneurial group with a worldwide reach — this time in Frederick. Startup Grind is a 150-country, 500-city community focused on educating and connecting entrepreneurs locally and worldwide. Existing Maryland chapters are in Baltimore and Columbia. The Columbia chapter was founded last year, with the goal of serving the local entrepreneurial community in Howard County. (Balt. Bus. Journal)

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Target to replace Kmart in Oxon Hill

Two weeks after Sears Holdings Corp. announced it would shutter the Kmart in Oxon Hill, the 85,000-square-foot space already has a new tenant on the way: Target. Target Corp. announced Wednesday plans to open in Wharton Realty Group Inc.’s Rivertowne Commons Shopping Center, in what will soon be the former Kmart space, while the Minneapolis, Minnesota-based retail giant completes work on remodeling nine of its Greater Washington locations. Rivertowne Commons is located less than two miles from both Tanger Outlets and MGM National Harbor. (Wash. Bus. Journal)

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$50M redevelopment of Northwood Plaza gets going as bulldozer chips away

A $50 million conversion of Northwood Plaza near Morgan State University is finally underway. The 120,000-square-foot project has been about five years in the making. It kicked off Thursday amid speeches, a slideshow of designs and congratulatory smiles from Northeast Baltimore residents and Morgan State administrators. The projcect is is expected to be completed in 2021. (Balt. Bus. Journal)

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