Maryland Businesses Drive Economic Growth Across Key Sectors Through Strategic Investments

The Maryland Marketing Partnership has highlighted recent developments from companies investing in the state's economic growth, showcasing progress across multiple sectors. BGE, Maryland's largest natural gas and electric utility, 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 equipment with electric alternatives, advancing Maryland's climate goals while reducing greenhouse gas emissions. More information about these programs is available at https://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 impact in the creative communications sector. 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 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 Baltimore's growing artistic community. MEDCO has developed https://www.medco.maryland.gov 42 industrial parks across Maryland, creating jobs in advanced manufacturing and green energy sectors throughout the state.

Montgomery County Economic Development Corporation continues to support business relocation and expansion through available grants and incentives. Recent milestones include X-energy consolidating offices into a new Gaithersburg headquarters and Liatris opening a manufacturing facility in Rockville, contributing to the Capital Region's #3 national ranking among U.S. biopharma clusters. Peterson Companies announced that The Ruxton steakhouse will open at National Harbor in late 2026, joining other new establishments including 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 a goal of achieving one million acts of service statewide. The initiative addresses food insecurity and promotes financial literacy through community partnerships. St. John Properties expanded its Baltimore County footprint by acquiring a three-building, 300,000 square foot office portfolio in Hunt Valley, planning significant improvements to the North Park business community. The company maintains information at https://www.sjpi.com.

TEDCO continues supporting technology startups through investment funds and resources, recently investing in companies including LePrix and Upling. The organization announced awardees for the 2025 Maryland Makerspace Initiative Program and will participate in the https://www.entrepreneurexpo.com 2025 Entrepreneur Expo happening October 21. T. Rowe Price announced a strategic collaboration with Goldman Sachs to develop diversified public and private market solutions for retirement and wealth investors. The University System of Maryland celebrated recognition from Forbes' Best Employers By State ranking, with three institutions ranking in the top 20 nationally.