Maryland Businesses Drive Economic Growth Through Strategic Investments and Partnerships

The Maryland Marketing Partnership has highlighted significant developments from companies and organizations investing in the state's economic growth, showcasing how strategic partnerships are driving progress across multiple sectors. Maryland Department of Commerce Secretary Harry Coker, Jr. emphasized that partnership remains critical to making the state's economy more robust and competitive, noting that recent expansions represent important steps in creating opportunities and attracting investment.

BGE, Maryland's largest natural gas and electric utility, has launched building electrification incentives for residential and commercial customers through existing EmPOWER Maryland programs. These incentives provide financial support for customers to replace fossil fuel-powered heating equipment with electric alternatives, advancing Maryland's climate goals while reducing greenhouse gas emissions. The program opens up energy efficiency opportunities for all customers through existing initiatives detailed at energy.maryland.gov.

FOVNDRY, a Maryland-based creative agency, has been named Agency of Record for Lincoln Property Company, handling branding and campaign strategy across multiple service lines. The agency also launched the "Together We Make It Happen" campaign for the Universities at Shady Grove, highlighting its growing influence in strategic communications. Howard Hughes Communities recently welcomed IronCircle, an AI-powered cybersecurity platform, to their Merriweather District portfolio in Columbia, reinforcing Maryland's commitment to technology innovation.

The Maryland Economic Development Corporation (MEDCO) announced significant infrastructure investments, including $200,000 awarded for improvements at the Crown Cork & Seal redevelopment site in East Baltimore. This 16.9-acre mixed-use project, led by Cross Street Partners, will support industries complementing Baltimore's creative community. MEDCO has developed 42 industrial parks across Maryland, creating jobs in advanced manufacturing and green energy sectors while fostering sustainable economic development.

Montgomery County Economic Development Corporation continues to support business relocation and expansion through available grants and incentives, maintaining the county's position as the anchor of the nation's third-largest biopharma hub. Recent milestones include X-energy consolidating offices into a new Gaithersburg headquarters and Liatris opening a Rockville manufacturing facility. Peterson Companies announced that The Ruxton steakhouse will open at National Harbor in late 2026, joining other upcoming additions like illy Caffè and Nan Xiang Xiao Long Bao at the entertainment destination.

SECU, Maryland's largest credit union, launched its sixth annual Kindness Month in October with an ambitious goal of one million acts of service statewide. The initiative addresses food insecurity and financial literacy through community partnerships. St. John Properties expanded its Baltimore County footprint by acquiring a 300,000-square-foot office portfolio in Hunt Valley, planning significant improvements to the North Park business community. TEDCO continues supporting technology startups through investment funds and programs, including the upcoming 2025 Entrepreneur Expo detailed at www.tedcomd.com.

T. Rowe Price announced a strategic collaboration with Goldman Sachs to develop diversified public and private market solutions for retirement and wealth investors. The partnership will leverage both firms' investment expertise to provide access to private markets for individuals and institutional clients. The University System of Maryland celebrated recognition in Forbes' Best Employers By State ranking, with three institutions ranking in the top 20, reflecting the state's strong higher education sector.

These developments collectively demonstrate Maryland's thriving business environment, where public-private partnerships, infrastructure investments, and community initiatives work together to create sustainable economic growth. The coordinated efforts across utility modernization, technology innovation, real estate development, and corporate expansion position Maryland for continued competitiveness in key sectors while addressing environmental and social priorities.