Baltimore County Now
More flexible loan funds are now available to small, veteran- minority- and women-owned businesses with $1.6 million in new funding for the Baltimore County Boost Fund. A total of $1.38 million in small business loans already has been approved since the program launched in October 2014.
“Our first round of funding supports an amazingly diverse group of entrepreneurs that reflects our entire business community, from a women-owned food manufacturer to a veteran-owned building contractor, to cybersecurity, edtech and environmental technology companies,” said Baltimore County Executive Kamenetz. “Every dollar in loans goes back into the economy to generate jobs and support the growth of promising small businesses.”
Loan funding comes from the Maryland Small, Minority and Women-Owned Business Loan Fund, which was established with revenue from Maryland casinos.
The next round of Boost loan funds is available to help businesses in Baltimore County and throughout the State.
How Loans Can be Used
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.
Suite of Business Resources
“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.
Baltimore County Executive Kevin Kamenetz and Will Anderson, Director, Baltimore County Department of Economic and Workforce Development
The economic development race was on when McCormick & Company, the global spice and flavorings powerhouse, announced it was looking for a new headquarters campus location. We suspect there was a gleam of hope in the eyes of every governor, county executive and mayor in the mid-Atlantic as they revved up their economic development operations and opened Power Point to prepare their pitches.
Baltimore County rolled up its sleeves. One of the first business meetings of this administration was with the CEO of McCormick, one of our largest employers. Maintaining that sound relationship set the groundwork for open dialogue as the company started its site selection process. Baltimore County worked for more than13 months to identify sites and appropriate incentives to meet the company’s requirements.
After rounds of due diligence and a lot of public speculation, McCormick chose to stay home, in Baltimore County Maryland.
Here’s why we believe McCormick decided to stay and invest here.
· Baltimore County’s business climate is right for a global company. Our property and income tax rates have not gone up for decades. This stability is critical for business planning.
· For more than 40 years, McCormick’s C-level headquarters and key operations have been spread out in northern Baltimore County. An R&D innovation center and two active manufacturing plants already are in Hunt Valley, so it made good business sense to have these operations and talent closer together in a 21st century business environment.
· McCormick employs more than 10,000 people around the world. One fifth of McCormick’s workforce – 2,100 employees – work in Baltimore County. About 900 of these employees will be moving to the new Hunt Valley campus.
· McCormick is a global publicly traded company with $4.2 billion in annual sales of spices, seasoning mixes, condiments and flavorings. Baltimore County has ready access to international airports, Wall Street decision makers and services that support manufacturing and trade.
· McCormick told us they need a location that helps them recruit and retain top-tier talent. Hunt Valley is a perfect fit. We have some of the region’s most exclusive executive housing and great schools. Hunt Valley Towne Centre and Wegmans are right across the street from the new headquarters site. Plus employees can take light rail right from work to an Os or Ravens game.
So we say ‘thank you McCormick’ and raise a jumbo crab doused with OLD BAY in your honor. We’re glad you chose to stay here in Baltimore County, home of McCormick innovation for generations to come.
Bryan Dunn, Marketing Specialist, Department of Economic & Workforce Development
If you live in the Randallstown area, you often drive down Liberty Road to go to Home Depot or Walmart, take the kids to the Randallstown Community Center or perhaps have dinner at the new Ruby Tuesday or Colin’s restaurant. One thing you may have missed is the life-changing work happening at Baltimore County’s Liberty Center, a formerly vacant grocery store on Offutt and Liberty Roads.
The Liberty Center is where over 11,000 people went to change their lives last year, with resources for anyone looking to hone a personal brand and compete in today’s job market.
Free to the public, Liberty Center focuses on career paths, not merely placing jobs. Liberty Center is where Candy Kriegar learned how to leverage her experience as a small business owner to land an administrative position with Utility Line Corporation. It’s where Toyota Financial Services found Desitini Daniels, who went to Liberty Center to reboot her career after an employment contract ended. RG Steel worker Robert Goode got the career counseling he needed to get hired as a welder.
“We love what’s happening at Liberty. Connecting job seekers with these amazing employers, that’s what it’s all about,” said Will Anderson, Director of the Baltimore County Department of Economic and Workforce Development.
Since opening in 2011, there has been no shortage of success, just as there is no shortage of opportunity – all it takes is a visit, and a commitment to the future.
Baltimore County Economic and Workforce Development, the Community College of Baltimore County and Social Services collaborate to deliver services and customized programs that get results. Utilizing the facility’s 2,500 student capacity, CCBC offers courses that train people for marketable jobs, while Workforce Development organizes onsite recruitments to help connect people with businesses that are hiring.
Liberty Center is one of three free career centers in Baltimore County, conveniently located in Randallstown, Hunt Valley and Eastpoint. A convenient Mobile Career Center brings job search resources to communities throughout Baltimore County. Stop in anytime and see how our career centers can change your life. You might just find your next job. And your next career.
Don’t miss out on CCBC Randallstown’s Community Open House at the Liberty Center.
Find out more about Career Training and Community Education programs at CCBC Randallstown April 18, 12:00-3:00 pm, 3637 Offutt Road, Randallstown, MD 2113. For more Open House information call 443-840-4700.