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Tourism Groups Request Maryland’s Help With Labor Shortage

Before the summer season even arrives, there is already an acute labor shortage brewing in the resort’s hospitality industry, but steps are being taken to attempt to address the issue. “Help Wanted” signs dot the resort’s landscape, which is not unusual in April in advance of the summer season, but questions remain if the business community will ever fill all the needed positions and the signs will ever come down.

Former Laurel Farmers Market lot to receive improvements thanks to $50,000 state grant

The vacant lot at 378 Main St. is about to get a face-lift. The city of Laurel was awarded a $50,000 Community Legacy Grant from Maryland’s Department of Housing and Community Development for improvements to the site of the former farmers market on Main Street. Owned by the Community Redevelopment Authority, the property will receive a shade structure and picnic tables.

Read More: Baltimore Sun
McDaniel College, Duquesne University form master’s degree partnership

McDaniel College and Duquesne University Tuesday announced a partnership that gives McDaniel undergraduate students in the economics and business administration department, as well as eligible alumni, preferred admission to four master’s degree programs at Duquesne’s Palumbo-Donahue School of Business. The four master’s degree programs include the Professional Master in Business Administration (PMBA), Master in Business Administration in Sustainable Business Practices (MBA-SBP), Master of Science in Accountancy (MAcc), and Master of Science in Supply Chain Management (MS-SCM).

SkyPoint Federal Credit Union expands to Frederick County

Germantown-based SkyPoint Federal Credit Union, a member-owned financial institution, Tuesday announced it has expanded its service offerings to residents in Frederick County, as well as the District of Columbia and northern Virginia. Formerly known as Montgomery County Employees Federal Credit Union, SkyPoint completed a full-scale rebrand in 2019 that was rooted in adapting its offerings to better reflect its expanding and increasingly diverse membership base.

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Fidelity Investments to add thousands of jobs in Baltimore, D.C. and beyond

T. Rowe Price Group Inc. and other investment firms in Baltimore are about to face some competition for talent from one of the industry’s biggest players. Boston-based Fidelity Investments Inc. plans to hire 4,000 workers in customer-facing jobs over the next few months in several markets, including Baltimore. Of those positions, about 1,000 will be new remote licensed financial planners. Other positions include financial consultants, customer service representatives and other personnel, in new and existing markets for the company.

Record first quarter included several Maryland VC deals topping $100M

Venture capital totals hit a national quarterly record in the first quarter of 2021, with growing companies raising more nine-digit fundings rounds than ever, according to the latest PwC/CB Insights MoneyTree report. VC investments in Q1 surged to a new quarterly record of over $62 billion, raised through 1,735 deals nationwide, the MoneyTree report shows. The funding total is up 117% year-over-year, and the deal total is up 14%.

Pay for CEO of Emergent BioSolutions, maker of COVID vaccine in Baltimore, increased 51% in 2020

The president and CEO of Emergent BioSolutions, a Gaithersburg-based maker of the Johnson & Johnson COVID vaccine at a troubled East Baltimore plant, saw his compensation grow 51% last year. Robert Kramer, 63, who has led Emergent BioSolutions since April 2019, earned $5.6 million in 2020, up from $3.7 million in total pay in 2019, according to a filing with the U.S. Securities and Exchange Commission. After a mix-up at its East Baltimore manufacturing plant near the Johns Hopkins Bayview Medical Center ruined about 15 million doses of Johnson & Johnson’s vaccine, the federal government gave the New Jersey-based drug company control of the Emergent BioSolutions facility. The plant, built with federal funds for responding biothreats to the nation, has not yet received emergency use authorization from the federal government.

Read More: Baltimore Sun
Hagerstown airport to get $1M in COVID relief

Hagerstown Regional Airport will receive more than $1 million in COVID-19 relief money, according to U.S. lawmakers. “We will utilize the funds for operational costs, specifically wages and benefits, just as we did with the CARES Act funds (last year),” Airport Director Garrison Plessinger wrote in an email. In April 2020, the federal government announced more than $107 million in COVID-19 economic relief to support airports across Maryland. At that time, the Coronavirus Aid, Relief and Economic Security Act provided $1.1 million for the Hagerstown airport, based on a Federal Aviation Administration formula, to help with operational costs such as payroll and utilities, Plessinger said.

Read More: Herald Mail
Startups often have to look outside Baltimore for funding — but founders say that’s OK

Stakeholders in the local tech ecosystem have long lamented the Baltimore area’s lack of early-stage funding resources, which forces startup founders to look outside the state to find the growth funding they need. But especially in a post-Covid world, “that’s not necessarily a bad thing,” said Anders Jones, CEO of Facet Wealth. Collectively, the leaders of Baltimore startups Protenus, Facet Wealth and Sonavi Labs have raised more than $100 million in funding, the vast majority of which has come from out-of-state sources.

Four Greater Baltimoreans make Forbes’ 2021 billionaires list, including one newcomer

Forbes’ 2021 World’s Billionaires List saw the addition of 660 new names, among them the CEO of a Maryland-based health care data analytics company. Keith Dunleavy joined the list at No. 2,141 (of 2,755) with a net worth of $1.4 billion. The founder of Inovalon resides in Annapolis, according to Forbes. He joins three other Greater Baltimoreans who have long held a spot on the annual ranking: Baltimore Ravens owner Stephen Bisciotti, chairman of Allegis Group Jim Davis and Under Armour founder Kevin Plank.

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