Friday, February 26, 2021 |
Baltimore
37°
Clear
FOLLOW US:

Business

Airport runway American
Md. Board of Public Works approves relief package for BWI Marshall Airport concessions

The Maryland Board of Public Works (BPW) Wednesday unanimously approved financial relief measures to support food and retail concessions at Baltimore/Washington International Thurgood Marshall Airport. The package expands assistance previously enacted by BWI Marshall Airport in April 2020 to provide relief from COVID-19 impacts. The rent relief and lease extensions approved today will support airport restaurants and retailers as they recover from the economic crisis brought on by the global pandemic.

Exelon, owner of Baltimore-based Constellation and BGE, will split power and utility businesses

Energy giant Exelon, owner of Baltimore Gas and Electric Co. and five other utilities, plans to split up its utilities and power generation businesses, including Baltimore-based power supplier Constellation. Exelon said Wednesday its board of directors has approved the plan, which would spin off the power generation businesses and form two separate, publicly traded companies.

Read More: Baltimore Sun
Howard County Executive Ball says there is much to do to ‘reignite our economy’ in State of Business address

Howard County Executive Calvin Ball delivered his second State of Business address Wednesday, touting his economic achievements of the past year during the coronavirus pandemic. During the 17-minute State of Business address, Howard County Executive Calvin Ball touched on the county’s response to the pandemic amid economic uncertainty, as well as his efforts to encourage the county government and residents to spend money with local businesses.

Read More: Baltimore Sun
Trade group: Retail sales should grow 6.5% to 8.2% this year

The nation’s largest retail trade group is forecasting strong retail sales growth this year that could surpass last year’s pace as more individuals get vaccinated and the economy reopens.
The National Retail Federation said Wednesday it anticipates that retail sales will grow between 6.5% and 8.2% to more than $4.33 trillion this year.

person holding white POS machine
$7M Awarded To 41 Maryland ‘Main Street’ Programs, Gov. Hogan Announces

Gov. Larry Hogan announced $7 million in awards for 41 Main Street programs around Maryland Tuesday. Through the program, more than 5,000 businesses will be eligible for support. “Maryland communities would not be the same without our vibrant, historic Main Streets,” said Governor Hogan. “We are proud to support local small businesses and help them recover from the economic toll brought on by the COVID-19 pandemic.” It marks the third phase of the Maryland Strong: Economic Recovery Initiative by the state’s Department of Housing and Community Development.

Read More: WJZ
Md. labor department to add direct deposit for unemployment claims in April

Maryland Department of Labor Secretary Tiffany P. Robinson Tuesday announced that Maryland’s unemployment insurance claimants will begin receiving their benefit payments through direct deposit beginning in April 2021. The transition from Bank of America debit cards to direct deposit comes as a result of a new contract with Wells Fargo. Benefit payments will be directly deposited into a claimant’s personal bank account.

Read More: Daily Record
Fund Created To Help Small Business Owners Amid Lexington Market Redevelopment
Lexington Market, along with the University of Maryland, Baltimore, and other financial groups are partnering to create the $1 Million Lexington Market Accelerator Fund. The money will fill the need for small business owners, especially minority owners, who traditionally face barriers to accessing capital. The loans range from $10,000 to $150,000 and are meant for the businesses and owners who will be part of the new market.
Read More: WJZ
Maryland Stadium Authority selects architects and engineers for new Pimlico Race Course

The Maryland Stadium Authority took a major step toward rebuilding Pimlico Race Course when it selected the architects and engineers who will design $375 million worth of replacement structures in Baltimore and Laurel. In a brief meeting this morning, the authority selected a team headed by Ayers Saint Gross of Baltimore to design a new clubhouse, grandstand and other facilities to accommodate the Preakness Stakes, one of the largest annual sports events in Maryland.

Read More: Baltimore Brew
Guy Fieri’s Flavortown Opens Ghost Kitchens In Maryland
If you’re looking to head to Flavortown, it’s right here in Maryland! Guy Fieri’s Flavortown Kitchen is the latest to use a “ghost kitchen” concept to create a delivery-only service operating out of existing restaurants. Here in Maryland, it’s at Bertucci’s.
Read More: WJZ
Nonprofit offering hundreds of grants to Black-owned businesses — including in Baltimore

D.C. business development nonprofit 1863 Ventures is offering hundreds of $5,000 grants to Black-owned businesses across the country, including in Baltimore. The initiative, part of 1863’s 3Rs program (Recovery, Rebuild, Resilient), is newly funded through a $1.2 million grant from The Rockefeller Foundation. That money will go toward giving $5,000 grants and three months of business coaching to 1,400 Black-owned businesses in 14 cities, including D.C., Baltimore, Chicago and Atlanta, the nonprofit said Monday.

The Morning Rundown

We’re staying up to the minute on the issues shaping the future. Join us on the newsletter of choice for Maryland politicos and business leaders. It’s always free to join and never a hassle to leave. See you on the inside.