Business

American CEOs are far more optimistic about office returns than they were just a year ago, and many also plan to reward employees for coming back. Those are two of the top takeaways from the 2023 U.S. CEO Outlook survey by corporate-services firm KPMG, which found 62% of respondents believe corporate employees whose roles used to be based in the office would again be working in the office in the next three years — a huge jump from the 34% who believed that in 2022.

The University of Maryland, College Park is launching a new program in which an A+ could come with more than credits, it could mean founding a startup with up to $2 million in investment. xFoundry@UMD program is a 15-month business development curriculum for students that was inspired by the million-dollar tech innovation challenges sponsored by the nonprofit XPRIZE Foundation.

A new grocery store will replace the former Giant Food in Crofton Station after the Maryland grocer moved to a neighboring shopping center. The Fresh Market signed a lease for a vacant space at 1161 MD Route 3 in Gambrills’ Crofton Station development, with hopes of opening by the end of 2024, said Dimitri Georgelakos, a principal at KLNB, who brokered the deal for the grocery chain along with Michael Patz.

At a time when banks’ lending standards are tightening, loans backed by the U.S. Small Business Administration are proving to be a critical lifeline for small businesses across Greater Washington. In fiscal year 2023, which ended Sept. 30, lenders issued 742 loans backed by the SBA’s 7(a) program, up 27% from the previous fiscal year, according to newly released data. In the same period, the total dollar value of those loans climbed 13% to $297 million.

When the Maryland Stadium Authority voted last Thursday on a nonbinding agreement between the state and the Baltimore Orioles for a future lease at Camden Yards, they did so over the phone and out of the public eye, raising questions about transparency. The public body, comprised of members appointed by Gov. Wes Moore, legislative leadership and Baltimore City Mayor Brandon Scott, regularly approves agreements, both legally binding and nonbinding, during monthly public meetings.

An event billed as the largest minority business conference in the country will bring thousands of attendees to Baltimore later this month. The National Minority Supplier Development Council will hold its annual conference at the Baltimore Convention Center from Oct. 22 through Oct. 25. The four-day conference, which jumps from city to city each year, will be hosted in Charm City for the first time.

Maryland lost two billionaires this year on Forbes’ list of the 400 richest people in the country. Five Maryland billionaires made the cut for the annual list, two less than last year. One billionaire, Bernard Sauls, fell below the $2.9 billion in net worth needed to make the list, while Steve Bisciotti, owner of the Baltimore Ravens, is now listed as residing in Florida. Maryland’s richest resident is really an entire family, according to the list, which uses net worths as of Sept. 8.