Business

A parking lot-turned-housing project is on deck for College Park, where the University of Maryland’s real estate arm is zeroing in on an $85 million development near its Discovery District. The public parking lot near the College Park Airport and the College Park Aviation Museum borders Campus Drive next to the Junior Tennis Champions Center.

Resort officials voted this week to support bus and tram fare increases ahead of the summer season. The Mayor and Council had before them favorable recommendations from the Ocean City Transportation Committee to raise the town’s bus and tram fares by $1. Mayor Rick Meehan, committee liaison, said the increase will allow the town to cover the increasing costs associated with both operations.

The Village Market (TVM) and its nonprofit arm, Our Village United (OVU), Monday announced the launch of its first cohort of the Elevated Cities national incubator program, targeting businesses in Maryland and nationwide.  In partnership with Mastercard’s “In Solidarity” initiative, the national program will focus on cities across the country, including locations in Maryland, Atlanta, Los Angeles, St. Louis, New Orleans, New York City, Dayton, Ohio; Birmingham, Ala.; the District of Columbia and Virginia. The first cohort includes 125 Black-owned businesses across these cities and more.

Baltimore County Executive Johnny Olszewski on Monday announced that the county has maintained triple-A bond ratings from all three major rating agencies, which would allow the county to issue bonds at the lowest possible interest rate. Moody’s Investor Service, Fitch Ratings, and S&P Global Ratings have each confirmed the county’s triple-A rating. In the reports, the rating agencies highlighted Baltimore County’s “broad and diverse economy.”

The Maryland Supreme Court has delivered Amazon a legal victory, clearing the way for the online shopping and shipping service to operate a distribution center in Upper Marlboro over the objections of nearby residents. In a 7-0 decision, the high court said the Prince George’s County Council validly approved Amazon’s plan to use a 290,225-square-foot building in an industrial complex for a holding and distribution center for the online orders the company receives. The justices rejected the residents’ argument that Amazon’s facility qualifies as neither a permitted “warehouse” nor “distribution” center under the county’s zoning ordinance.

Unionized employees at Horseshoe Casino Baltimore have secured a new contract that union leaders say includes raises, paid holidays and a lower rate for health insurance payments.
The new contract, signed March 1 after roughly five months of negotiations, will run through October 2025 and cover around 500 workers.

At the Board of Public Works meeting last week, Gov. Wes Moore (D), Treasurer Dereck Davis (D) and Comptroller Brooke Lierman (D) were public and intentional about the need to restart the procurement process for a highly lucrative contract to operate concessions at BWI Thurgood Marshall Airport, which had fallen apart following allegations of favoritism weeks earlier. All three officials pledged their commitment to a fairer, more transparent process.

Maryland’s six casinos in February weren’t as busy as a year ago, as measured by total gaming revenue from slots and table games. Maryland Lottery and Gaming reports total gaming revenue of $167.1 million — $5.9 million less than February 2022, or a 3.6% decline. MGM National Harbor had the smallest decline in February gaming revenue, down 0.4% to $65.6 million. Live! Casino & Hotel remains the state’s second-busiest with $55.7 million in February revenue, down 6.3%.