Tuesday, November 30, 2021 |
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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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Nearly $24M In COVID Relief Funding Heading To Maryland Airports
Nearly $24 million in federal funding will be going to help airports in Maryland recover from the COVID-19 pandemic. The funding will go toward enhanced cleaning and sanitization efforts and will help offset pandemic-related costs for personnel, operations and debt services. BWI Airport will be getting the biggest chunk of the money, more than $21 million. This is on top of more than $107 million awarded to Maryland airports last year.
Read More: WJZ-TV
National Aquarium To Replace All 684 Panes In Glass Pyramid

Another Baltimore City landmark is getting a facelift. First, it was the Domino Sugar sign, and now, it’s the National Aquarium glass pyramid! The roughly $8 million project will replace the 684 panes that have sat above the rain forest exhibit for 40 years. The goal is to begin making the glass this summer with construction to begin next year.

Read More: WJZ-TV
Under Armour commits to new sustainability targets, joining industry peers in climate change fight

Acknowledging a dire global threat of human-driven climate change, Baltimore sportswear maker Under Armour has joined competitor fashion companies like Nike and Adidas in committing to reducing its greenhouse gas emissions. The company, which two months ago also signed onto the private “America is All In” initiative supporting “a society-wide mobilization for bold climate ambition,” has announced three specific targets for its operations.

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