Maryland Businesses Continue to Grow State's Top Sectors

BALTIMORE, Sept. 22, 2025 /PRNewswire/ -- The Maryland Marketing Partnership, which drives Maryland's marketing efforts to attract businesses, create jobs, retain talent and grow the state's economy, today shared a summary of the latest news from companies and organizations that invest in the partnership.

"Partnership is critical to moving Maryland forward and making our state's economy more robust and more competitive," said Harry Coker, Jr., Secretary of the Maryland Department of Commerce. "These are only the latest steps taken by our marketing partners to expand opportunity, attract investment, and create good jobs in our state. We cannot thank them enough for their leadership and support."

BGE, Maryland's largest natural gas and electric utility, announced building electrification incentives for residential and commercial customers have launched to the market through existing EmPOWER Maryland programs. These incentives help advance Maryland's climate goals, providing financial support for customers to replace existing fossil fueled space and water heating equipment with electric equipment. Maryland electrification is about empowering communities, driving clean innovation, and achieving a more sustainable future for all. These new incentives open up BGE's existing EmPOWER programs to all customers to participate in making their homes and businesses more energy efficient while reducing greenhouse gas emissions caused by residential and commercial building energy use. Learn more about EmPOWER Maryland at energy.maryland.gov.

FOVNDRY, a Maryland-based boutique creative and communications agency, has been named Agency of Record for Lincoln Property Company. This partnership spans branding and campaign strategy, development, planning, and rollout across four key service lines, an overarching brand platform, and ongoing organic social strategy and content development for Lincoln's corporate account. In addition, FOVNDRY recently launched the "Together We Make It Happen" campaign for the Universities at Shady Grove (USG), celebrating its unique model that expands access to high-quality higher education by uniting nine Maryland universities under one roof. These milestones highlight FOVNDRY's continued impact at the intersection of strategy, creativity, and success.

Howard Hughes Communities officially welcomed IronCircle into their office portfolio last month. The AI-powered cybersecurity platform relocated their global headquarters to Merriweather District in Columbia, MD. This move to the new 12,000 sq-ft space at 10440 Little Patuxent Parkway reaffirms Maryland's commitment to supporting technology and innovation in our region. Read more here.

The Maryland Economic Development Corporation (MEDCO), a state-led vehicle for economic development, announced key infrastructure investments in Baltimore and beyond. The State of Maryland and MEDCO awarded $200,000 to support infrastructure improvements at the Crown Cork & Seal redevelopment site in East Baltimore. Led by Cross Street Partners, this 16.9-acre mixed-use project will accommodate a variety of industries that complement Baltimore's growing artistic and creative community. This investment reflects MEDCO's commitment to revitalizing East Baltimore's industrial corridors and fostering inclusive economic growth. In total, MEDCO has developed 42 industrial parks across Maryland which creates jobs in every corner of the state. From advanced manufacturing to green energy facilities, industrial parks attract businesses that transform raw ideas into products that power our daily lives. Each project aims to create sustainable, diversified economies that benefit Marylanders.

The Montgomery County Economic Development Corporation (MCEDC) remains committed to supporting businesses seeking to relocate or expand in the county by connecting them with the many available grants, incentives, and resources available to businesses in Montgomery County. As the anchor of the nation's third-largest biopharma hub and a renowned global technology hub, the County continues to attract major investments. Recent milestones in the County include: X-energy consolidating its two Rockville offices into a new 125,000-square-foot headquarters in Gaithersburg; thermal insulation company Liatris opening a new manufacturing facility in Rockville, and the Capital Region securing the #3 national ranking among U.S. biopharma clusters.

Peterson Companies, one of the region's largest privately-owned real estate developers, is pleased to announce that The Ruxton – the acclaimed American steakhouse by Atlas Restaurant Group - will open a location at National Harbor in late 2026. The restaurant will feature a Jazz Age-inspired design with a spacious dining room, outdoor seating, and craft cocktail bar. Previously announced and opening this fall are illy Caffè and Live-K Karaoke, while Nan Xiang Xiao Long Bao, a Michelin-rated authentic Chinese restaurant, is expected in early 2026. These additions will join more than 60 restaurants, shops and entertainment venues at National Harbor.

SECU, Maryland's largest credit union, kicks off its sixth annual Kindness Month in October, encouraging acts of service and compassion statewide. This year, SECU is calling on Marylanders from all corners of the state to help surpass its biggest goal yet: one million Acts of Kindness! Alongside partners like The Greater Baltimore Board of REALTORS® Charitable Foundation, Coppin State University, the Alzheimer's Association, Maryland Chapter and more, SECU employees, members and beyond will mobilize all month long to tackle food insecurity, spearhead financial literacy initiatives and engage the community to make Maryland a better, kinder place. To learn more and participate, visit secukindness.org.

St. John Properties, a Baltimore-based full-service commercial real estate development and management company, has acquired a three-building, 300,000 square foot Class 'A' office portfolio in Hunt Valley, further expanding its Baltimore County footprint to over 4.6 million square feet of office, flex and retail. The buildings, which were significantly renovated in 2020, are cumulatively 63% leased and sit on a 23-acre section of the larger five-building North Park business community. St. John Properties will invest in significant improvements at North Park, including new HVAC systems, upgraded interior common areas, new signage, and refreshed landscaping – all aimed at creating a modern, inviting environment for tenants and visitors. The company will look to add to the strong tenant mix by utilizing its in-house leasing, design, interior construction, and property management teams. For more information about the company, visit www.sjpi.com.

TEDCO, Maryland's venture capital for technology companies, continues to fuel startup companies through its pool of resources and investment funds. Recent investments include those in LePrix, Upling, and AGED Diagnostics. TEDCO also announced the selection of Collide Capital for the Venture Capital Limited Partner program. Additionally, the organization announced the recognition of the 2025 Maryland Makerspace Initiative Program and Baltimore Innovation Initiative awardees, and celebrated the recognition of Geyssel Gonzalez for Leading Women Under 40, CEO Troy LeMaile-Stovall as an Influential Marylander and Power 100 List honoree, and the promotion of Jean-Luc Park. Finally, it announced several panels taking place at the 2025 Entrepreneur Expo happening October 21.  Learn more about TEDCO at www.tedcomd.com.

T. Rowe Price, a global investment management firm and a leader in retirement, announced a strategic collaboration with Goldman Sachs, aimed at delivering a range of diversified public and private market solutions designed for the unique needs of retirement and wealth investors. This collaboration will leverage the strengths of both firms, including respective investment expertise, solutions orientations, and a deep understanding of the needs of intermediaries and their clients. A central focus is on providing a range of wealth and retirement offerings that incorporate access to private markets for individuals, financial advisors, plan sponsors, and plan participants.

The University System of Maryland (USM), Maryland's public system of higher education, celebrates an exciting recognition for several participating institutions. In August, Forbes released its Best Employers By State ranking and three USM universities were in the top 20: University of Maryland, College Park (#4), University of Maryland, Baltimore (#6), and Towson University (#17).

About Maryland Marketing Partnership
The Maryland Marketing Partnership is a public-private partnership that develops the branding strategy for the state.  Private companies invest alongside the state to attract and retain businesses and talent.

SOURCE Maryland Marketing Partnership