August 8, 2023
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Welcome to the inaugural edition of "Economic Edge," the Howard County Economic Development Authority's (HCEDA) new weekly newsletter. Through this platform, we are thrilled to showcase our endeavors at the Maryland Innovation Center (MIC) and across our vibrant community.
As the new CEO of HCEDA, I am honored to introduce myself to you. As a Howard County native and having spent the past five years working alongside County Executive Dr. Calvin Ball, I've gained in-depth insights into Howard County's thriving business community. In my new role, I eagerly look forward to contributing to local enterprises' growth and informing you about the wealth of resources available through HCEDA and MIC. I invite you to read our blog or this recent interview I had with Technical.ly, for more detailed information about our priorities and plans.
In this inaugural edition, we're delighted to feature the inspiring success story of Young Horizons School. This remarkable business is dedicated to providing affordable childcare services to working families in Howard County. Within its first year, Young Horizons School has made a significant impact by creating 20 full-time jobs, aligning perfectly with the county's mission to support childcare facilities and cater to the needs of its workforce. Such initiatives promote job creation and foster capital investment in the region. We are equally excited to share the recent accomplishments and activities of our dedicated staff, whose hard work and commitment continue to drive positive change in our community.
Thank you for embarking on this exciting journey toward economic prosperity and innovation with us. Together, we can build a thriving business community in Howard County that benefits us all. Stay connected as we bring you more updates and inspiring stories in the coming weeks.
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Sincerely,
Jennifer Jones
CEO, Howard County Economic Development Authority
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| Read the Blog |
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Our Mission: The mission of the Howard County
Economic Development Authority is to promote economic growth and stability in Howard County by supporting existing businesses, attracting targeted new businesses, and attracting corporate and/or regional headquarters; to serve as the liaison between public and private economic development and planning organizations; and to recommend policies to County government that support the achievement of planned economic goals.
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HCEDA is actively seeking new team members! If you're interested in joining our team and contributing to our mission, click the button below to explore our exciting career opportunities.
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| HCEDA Employment Opportunities |
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We invite businesses in Howard County to voice their valuable insights and perspectives through our linked survey below! Your feedback will help the HCEDA enhance its services, ensuring a tailored and impactful support
system for your growth and success.
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Survey! |
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HCEDA’s Business Finance Support Services |
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Catalyst Fund:Through
Maryland's Video Lottery Terminal Small, Minority and Woman-Owned Business Account initiative, HCEDA's Catalyst Fund provides funding support for start-ups and growing businesses, enabling access to capital for needs such as working capital, equipment, real estate, franchise fees, and inventory purchases.
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Collateral
Assistance:The HCEDA Collateral Assistance Fund is designed to aid small, minority-owned businesses in meeting collateral requirements for Catalyst Fund loans, offering supplementary collateral through a certificate of deposit or comparable account administered by HCEDA. This initiative empowers these businesses to access vital financing resources.
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Incentives: Explore a
range of business support programs offered in Howard County, including the Fast Track Process, Tax Exempt Financing, Property Tax Credits, Economic Development Incentives Fund, and more, supported by the knowledgeable team at the HCEDA.
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Funding
Option Support: After assessing the necessary financial capital for initiating or expanding your business, our team will guide you through the array of funding choices tailored to your business type and developmental phase.
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Business Success Story: Young Horizons School |
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“HCEDA's financial support gave us the confidence to hire more employees to provide better care, superior
education, and [a] safer environment than any of our competitors in the industry. This means happy kids, happy teachers, and happy parents!”
— Young Horizons School Owners Radhika and Anil Cherukuri |
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The owners of Young Horizons School, referred by an existing Catalyst Fund borrower, started working with the HCEDA in December 2021. They purchased land off Route 1 in Elkridge, planning to create a mid-size childcare facility serving children from 6 weeks to 6 years.
HCEDA provided business and technical assistance, connecting them to county resources and offering information on Catalyst County Loans. In January 2023, they received a county loan, which helped finance the purchase of playground/classroom equipment and support working capital needs while bridging the financing gap.
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| Learn More About Young Horizons School |
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BGE and Howard County, in partnership with the Global Entrepreneurship Network and Hello Alice, is offering $20,000 BGE Energizing Small Business grants to help eligible central Maryland businesses succeed and thrive. Applications for the current round are open
through August 18, 2023, at 6 p.m. ET. To be eligible, a business must have between one and 25 employees, less than $7 million in annual revenue, demonstrated need for support, a strong plan for moving forward, and be in (or on the way to) good standing with the State of Maryland.
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Howard County Executive's 2023
Small Business SummitAug 31, 2023 8 AM - 12:30 PM
Howard County Executive's 2023 Small Business Summit offers a comprehensive half-day program addressing pertinent small business topics. Delve into future technologies, digital marketing, social media management, succession planning, mergers and acquisitions,
artificial intelligence, and beyond.
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| Register |
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Howard County 2023 Business Appreciation Week
October 23-27, 2023
Celebrate the valuable contributions of Howard County businesses during Business Appreciation Week this October! As a participant, your business will have the opportunity to host a visit from local business figures, including county department heads, government officials, and community leaders.
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Howard County Restaurant Weeks
Throughout Howard County Restaurant Weeks, HCEDA staff visited establishments all across the county! From July 17-30, our team visited JAM Eateries, Cured 18th & 21st, The
Collective Offshore, and GrillMarX Steakhouse & Raw Bar. Howard County has many unique restaurants and eateries, and Howard County Restaurant Weeks is a great way to showcase the variety of cuisine available in our own backyard!
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Maryland Weight Care Ribbon Cutting
HCEDA staff, the Howard County Chamber of Commerce and the Business Women's Network of Howard County, were delighted to participate in the recent ribbon cutting for Maryland Weight Care! Maryland Weight Care is dedicated to providing personalized, unrushed care to its patients, focusing on preventing and reversing chronic diseases and enhancing overall well-being through weight loss. For more information, please visit their website.
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About the Maryland Innovation Center
Operating
under the umbrella of the Howard County Economic Development Authority, the Maryland Innovation Center (MIC) is an innovation hub offering a robust support system for both budding and established entrepreneurs. Its comprehensive blend of mentorship, partnerships, and resources acts as a catalyst for economic growth and prosperity, propelling the advancement of its members.
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Join the MIC on Sept. 21 at Merriweather Lakehouse for our End of Summer Bash! This fun and festive event is the perfect way to wrap up summer and look forward to the fall. Early bird ticket sales close Sept. 8 — grab yours today!
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Wednesdays, Aug. 23–Sept. 13 | 6:30 - 8:30 PM
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Thursday, Aug. 24 | 12 - 1:30 PM
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Thursday, Aug. 31 |
12 - 1:30 PM
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Wednesday, Sept. 6 |
12 - 1 PM
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Tuesdays, Sept. 12–Oct. 17 | 11:30 AM - 1 PM
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Tuesdays, Sept. 19–Oct. 17 | 1:30 - 3 PM
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