Baltimore County Now
Seven Minority- and Women-Owned Business Receive Loans
Baltimore County Executive Kevin Kamenetz announced $580,000 in new loans to seven small, minority-and women-owned businesses from the Baltimore County Boost Fund, a flexible financing resource for entrepreneurs. A total of $1.38 million in loans have been approved since the program launched in October 2014.
“The Boost Fund offers flexible loans to support promising companies. We are especially pleased to provide loans to cybersecurity, edtech and environmental technology companies at bwtech@UMBC and the TU Incubator, university business incubators that are nurturing entrepreneurship and the next generation of great Baltimore County companies,” said Baltimore County Executive Kamenetz.
Flexible, Reduced Down Payment, Low Interest Rates
The Boost Fund, managed by the Baltimore County Department of Economic and Workforce Development, can lend qualified small businesses between $50,000 and $250,000 for start-up and gap funding, building and leasehold improvements, business and equipment acquisition, commercial real estate acquisition, and working capital.
Boost Fund loans are flexible, with a reduced down payment and interest rates set at or below market rates. Payment plans are customized to meet the cash flow needs of each business.
“Working capital is the lifeblood of small and early stage companies. Baltimore County’s Boost Fund is a valuable resource to help our bwtech@UMBC companies move to the next level,” said Ellen Hemmerly, Executive Director of the bwtech@UMBC Research and Technology Park.
Loan funding comes from the Maryland Small, Minority and Women-Owned Business Loan Fund, which was established with revenue from Maryland casinos
Baltimore County Boost Loans were approved to the following companies:
Amethyst Technologies LLC
Amethyst provides technical assistance for quality assurance and compliance to US and international standards for laboratories. The US Army is a major client, with much of Amethyst’s revenue from prime contracting with the US government. The company provides training, policies and procedures, laboratory outfitting and software to support FDA and ISO compliance for research, clinical trials and drug manufacturing.
Airphoton manufactures, sells and trains users and maintains instrumentation for the measurement and monitoring of particulate air pollution.
Allovue, LLC is an education resource-planning software provider for K-12 schools and districts. Their software program streamlines budgets, vendor transactions, general ledger balances and other accounting data into a single dashboard.
LessonCast, Learning, LLC
LessonCast Learning, LLC. is a Web-based teacher effectiveness platform that allows pre-service and in-service professionals to build a portfolio of documents and videos that convey effectiveness, learning and professional development.
Light Point Security, LLC
Light Point Security, LLC is a cybersecurity company that provides a secure Web-browsing solution to protect businesses from Web-based malware by moving and isolating employees’ Web browsing activity into the cloud.
RedShred, LLC has developed a cloud-based technology that locates and reads RFPs (requests for proposal) and grants. The product increases the quantity and the quality of opportunities targeted for businesses and non-profits. RedShred accelerates the RFP review process by selecting RFPs that best fit the company so that a company does not waste time on RFPs that don’t match the company’s target market.
Vac Pac, Inc.
Vac Pac, Inc. is a manufacturer of custom packaging. The company serves diverse industries with packaging for products including poultry, meat, seafood, produce, fragrance, seed, spices and toiletries. As specialists in cook-in packaging, Vac Pac holds a number of patents. The company is moving to Baltimore County to a larger Middle River facility.
Michele’s Granola in Timonium, Oak Creek Café in Arbutus, ServPro in Towson and Aegis Mechanical Contracting in Woodlawn were previously awarded Boost Fund loans.
Valuable County Resource
“The Boost Fund is a valuable addition to the County’s business resources, which include free employee recruitment and training programs, site selection assistance and a suite of financing options. Baltimore County stands ready to support companies when they are ready to expand and add jobs,” said Will Anderson, director of the Baltimore County Department of Economic and Workforce Development.
For more information on the Boost Fund or to apply for a loan, visit Baltimore County Department of Economic and Workforce Development at www.BCBoostFund.com or call 410-887-8000.
No Unusual or Problematic Protest-Related Activity Occurred this Week
Chief Johnson released this statement Wednesday afternoon: "I want to assure citizens and local businesses that there is no need to curtail their daily business as a result of the ongoing unrest in Baltimore City," said Police Chief Jim Johnson.
"We have experienced no unusual activity here, and there are no indications that anything unusual is planned."
"Police continue to monitor social media and other sources for rumors about gatherings and other protest-related activity. The department is taking these messages seriously and has appropriate resources available for deployment, should the need for them occur. At this time, however, there are no credible threats to Baltimore County."
"Our county is uneventful and safe. There is no need for businesses, schools and other institutions to disrupt normal operations," Chief Johnson said.
Continued Support for BPD
BCoPD continues to support the Baltimore City Police Department. This afternoon, BCoPD sent about 50 officers back to Baltimore to assist with protests. The same number of county officers was deployed Monday and Tuesday.
Since last weekend, BCoPD has provided backup Tactical, K-9 and Aviation support for BPD's daily calls for service. In addition, Baltimore County Police are handling duties normally handled by the Maryland State Police in Baltimore County.
Hunt Valley is Preferred Location
Baltimore County Executive Kevin Kamenetz publicly thanked the leadership of McCormick and Company Incorporated, who announced that the company has selected a site in Baltimore County at Shawan and York Road in Hunt Valley as the preferred location for its new headquarters.
The decision keeps a total of 2,100 McCormick employees in Baltimore County at the firm’s corporate headquarters, a Technical Innovation Center and two manufacturing plants. About 900 of these employees will work at the new Hunt Valley campus, which will consolidate current operations from several Baltimore County locations in the Maryland I-83 corridor.
Top Economic Priority
“We are thrilled that McCormick has chosen to keep its corporate headquarters in Baltimore County,” said Baltimore County Executive Kevin Kamenetz. “In every conversation I have had with Chairman and CEO Alan Wilson over the past several years, I made it very clear that McCormick is a valued part of our business community and that retaining their headquarters and operations in Baltimore County is a top economic development priority."
“We thank Director Will Anderson and our County Economic and Workforce Development team, Governor Hogan and DBED Secretary Mike Gill for working together to keep McCormick home,” added Kamenetz.
“We are very excited about our plans to relocate our headquarters to our preferred site in Hunt Valley. I'd like to thank Baltimore County Executive Kevin Kamenetz for his support and understanding of McCormick's vision for the future. We look forward to a continued partnership as we finalize the agreement over the next few months, and as we build, occupy and grow in our new headquarters over the next several years," said Alan Wilson, Chairman and CEO, McCormick & Company, Inc.
McCormick, founded in Baltimore in 1889, has been headquartered in the Sparks-Hunt Valley area of Baltimore County for more than 40 years. McCormick manufactures, markets and distributes spices, seasoning mixes, condiments and flavors to the food industry in more than 125 countries and territories.
“Hunt Valley offers a 21st century business environment that will continue to propel McCormick innovation for generations to come,” concluded County Executive Kamenetz. “This is a win for the County, a win for Hunt Valley and a win for an innovative global company with Baltimore roots going back more than a century.”