Good morning and TGIF! Another summer weekend awaits. I'll be heading to my nephew Nicholas' high school graduation party in Pennsylvania. Looking forward to seeing the family, celebrating his big achievement — and eating lots of good food. Hope you enjoy the weekend. Go O's!
Now here's what you need to know to start your day.
GBC holds first investment summit
The Greater Baltimore Committee hosted its inaugural Baltimore Region Investment Summit on Thursday, an event that showcased the region's assets and key players in an attempt to woo investors and entrepreneurs. Jeremie Feinblatt, vice president of strategy for Resonance Consultancy Ltd., talked about how his organization was working with the GBC on raising Baltimore's profile — and changing its reputation by creating a better brand. "Brands matter," he told the packed auditorium at Maryland Institute College of Art's Brown Center. "In cities, brands drive investment decisions." Feinblatt said his firm has been working with other cities around the world, including Brussels, Belgium, Los Angeles and Houston. Presenters included Baltimore Mayor Brandon Scott; Alicia Wilson, head of regional philanthropy for North America for JPMorgan Chase; KoryBailey, CEO of UpSurge Baltimore; Christy Wyskiel, executive director and senior advisor on innovation and entrepreneurship of Johns Hopkins Technology Ventures; Troy Lemaile-Stovall, CEO of TEDCO; and Matt Tremblay, CEO of Blackbird Labs. The presenters offered their elevator pitches on why outsiders should pay attention to the region's technology, real estate, arts, manufacturing, workforce and more.
McCormick & Co. Inc. Chief Financial Officer Mike Smith will retire at the end of February after more than 30 years at the Hunt Valley spice maker. Smith has been McCormick’s CFO since 2016. The company said Thursday that Smith will be replaced by Marcos Gabriel, who has been with McCormick since 2017. He will take over the CFO position on Dec. 1, reports the BBJ's Garrett Dvorkin. The news of the CFO change came a day before McCormick reported its earnings for the fiscal second quarter ended May 31. The company continued to see a decline in sales but beat Wall Street’s expectations for revenue and profit. many
Tourism businesses cash in on cannabis industry
You don't have to have a cannabis license to make money off the emerging industry. Many Maryland entrepreneurs are finding ways to enter the growing cannabis market through events and other experiences that don’t require winning one of the hundreds of hard-to-get state licenses needed to grow or sell the plant, the BBJ's Matt Hooke reports in this week's BBJ cover story. The state's nascent cannabis tourism industry covers a wide range of companies, from Airbnbs like to event organizers, travel agents and even chefs, all with a similar focus on providing experiences to a growing group of cannabis customers. Forbes predicts the market for offering cannabis-focused experiences is worth about $17 billion.
Maryland Science Center gets $1 million grant
The Maryland Science Center has received a $1 million gift from the Kahlert Foundation to enhance the center's Shed maker space and to support free field trip admission for over 11,000 Carroll and Howard counties. The Shed hosts drop-in activities that blend art, craft, science, engineering and technology. visitors can take-on a problem-solving challenge, prototype an inventive object, explore working with new tools and materials, and investigate the inner workings of familiar items. The new Shed will be named in honor of the Kahlert Foundation. “The world is changing quickly,” Foundation Executive Director Ellen Myers said. “We want to make sure that students are ready to respond to and take advantage of new developments and opportunities, particularly in the areas of science and technology."
Harford County nonprofit awards 177 grants
The Women’s Giving Circle of Harford County has awarded $67,520 to 14 nonprofits in the county in 2024. That brings its cumulative giving to $638,435 in its first 14 years. The organization, founded in 2010, provided 177 grants to 61 nonprofits that serve women, families and children. The 2024 Grant Committee was chaired by Hillary Smolenski. “This year’s total distribution is the most our giving circle has ever awarded in our 14-year history, and it’s possible because of the strong support of our incredible members," said Donna Kreis, chair of the Women’s Giving Circle of Harford County.
Morgan State tops off 151-unit apartment project for Morgan State
A 151-unit student housing project for Morgan State University students is one step closer to opening next year after the project topped off this week. BBJ Senior Reporter Melody Simmons was on the scene as MCB Real Estate and Morgan officials on Thursday showed off the budding development at 4529 Harford Road. It's the first off-campus student housing built for Morgan students in about 20 years. It was also given a new name: The Enolia, a nod to educator and civil rights leader Enolia Pettigen McMillan, the first woman president of the NAACP and the first female chair of Morgan's Board of Regents.
Second scooter company to return to Baltimore
For those of you who love scootering around Baltimore's streets (and sidewalks), here's some good news. A second scooter and e-bike company is returning to Baltimore after the city's lineup had dwindled to just a single operator. Lime has been granted a permit by the Baltimore City Department of Transportation to bring in its bright green fleet of e-scooters and seated scooters. Lime will join the sole existing operator, Spin, in Baltimore after being dropped from the fleet in 2022, reports the BBJ's Joe Ilardi.
Maryland officials prefer light rail trains for Red Line
If you're opposed to riding scooters, the future may offer another public transit option. Gov. Wes Moore on Thursday said renewed plans for the Red Line will focus on light rail trains for an east-west transit line across Baltimore not rapid buses, the Baltimore Sun reports. The Red Line was originally planned and partially funded when Republican former Gov. Larry Hogan nixed the plans when he took office in 2015. He returned $900 million in federal funding for the project. Moore has promised that he would bring the Red Line plan back despite no funding commitments for the project.
