ELLICOTT CITY, MD – Howard County Executive Calvin Ball yesterday delivered his annual State of Business Address and embraced Howard County as the “Gateway to opportunity” during the Business Outlook Luncheon hosted by the Howard County Chamber of Commerce. During his address, Ball declared the state of business “strong” in Howard County, as the County once again earned a AAA bond rating from all three credit rating agencies this week.
“While tough fiscal realities and uncertainties loom across our great state and country, Howard County stands as the ‘Gateway to opportunity’, driving entrepreneurship, innovation, and job growth,” said Ball. “As evident by the record-setting number of new businesses who opened their doors here this past year, to the 5,400 new jobs added this last quarter alone, I can unequivocally say that the State of Business is strong in Howard County. From our flourishing local economy, expanding international opportunities, and spurring new job growth, our opportunities for success are limitless.”
During his address, Ball:
- Highlighted his successful fall 2024 European Trade Mission to foster international collaboration and export opportunities in the cybersecurity/IT sector, and advance Howard County’s global competitiveness.
- Unveiled Howard County’s brand-new Cyber Howard Accelerator, which will target early-stage cybersecurity companies with products in development.
- Highlighted the launch of a Vulnerability Disclosure Program to protect against cyberattacks and ensure Howard County’s place as the cyber capital of the world.
- Emphasized the continued growth and vision for the Columbia Gateway Innovation District, the county’s premiere business center that attracts technology, cyber, and biotech firms, higher education partners, defense contractors, and entrepreneurs. The district’s Gateway Master Plan will serve as a roadmap to the future that builds on the 1,000-acre office park’s existing strengths and Columbia’s history for fostering connectivity.
- Celebrated the newly established Eastern Howard County Enterprise Zone. Howard County’s first-ever Enterprise Zone, this economic gamechanger offers tax credits to businesses looking to reinvest in their properties and tax benefits to those looking to grow their employment basealong Route 1 and in Columbia Gateway.
- In addition to its LIFT Fund and Catalyst Fund, Ball unveiled the Howard County Economic Development Authority’s new Small Business FLEX program. The program offers businesses a new FLEX credit line starting at $30,000 and up to $100,000 and coaching and training resources as needed for those who want to either grow or expand. This flexible line of credit will help businesses cover short-term financial needs, such as supplier fees, unexpected expenses, and initial payroll.
- Shared that visitor spending has exceeded pre-pandemic levels, reaching nearly $800 million from 3.1 million visitors in 2023, and that visitor-supported employment reached nearly 10,000 jobs in Howard County last year.
- Highlighted that Old Ellicott City (OEC) continues to celebrate a low commercial vacancy rate and touted the success of its Summer Bucks program. Launched this past summer, for everySummer Buck used, visitors spent more than $20 of their own money at local shops, restaurants, and businesses. This 2-1 return on investment created a total economic impact of more than $37,000 generated for OEC’s Main Street businesses during the typically slow July and August summer months.
- In following the success of the OEC Summer Bucks program, Ball announced the program will be expanded to Historic Savage Mill this summer 2025, supporting more than 70 small businesses that call the Mill home.
- Spotlighted that Howard County’s local businesses continue to thrive thanks to the support of the County’s Local Business Initiative (LBI), which focuses on County procurement dollars being spent on local businesses. In the first six months of Fiscal Year 2025, the County’s LBI spend was more than $44 million, surpassing the total spent in any other previous year.
- Emphasized the importance of strong partnerships, such as the County’s Office of Workforce Development’s:
- Collaboration with Anne Arundel Workforce Development Center and Fort Meade that has helped nearly 550 transitioning service members, spouses, and veterans receive career counseling and employment support.
- Partnership with the Autism Society of Maryland that has helped more than 40 people living with autism find employment.
- Partnership with the County’s Department of Corrections that has helped 12 ex-offenders earn their Commercial Driver’s Licenseto fill job needs in one of our country’s hardest hit industries.
- Highlighted the County’s $3.5 million investment to launch Howard Community College’s Complete4Success scholarship. Through this investment, nearly 360 credits have been earned that otherwise would not have been completed.
- Shared that in January, the County invested $1 million to create a competitive capital grant program to provide funding for new childcare centers, repairs, and expansions.Publisher’s Note: Maryland Newspapers LLC looks forward to providing regular coverage of news and events in Howard County, Maryland. Please support that effort by visiting HowardCourier.com daily, uploading our mobile app, and subscribing, if finances permit.
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