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D E C E M B E R 6, 2 0 1 2
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Protenergy Expands on Eastern Shore
Ontario-based Protenergy Natural Foods is expanding its U.S. headquarters on the Eastern Shore with the purchase of the 67-acre site and 200,000 square-foot building the company currently leases in Cambridge. The food processing company plans to more than triple its current workforce of 53 by creating up to 100 new full-time jobs by April 2013 and hiring another 27 employees over the next five years as it increases production capacity to meet the growing demand for its products. DBED is providing a State-backed loan guarantee on a $3.6 million bank loan and a $250,000 conditional loan.
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DBED’s Office of International Investment and Trade participated in the China Jiangsu Conference for International Transfer and Commercialization last month to promote a pilot export-support initiative allowing Maryland firms’ technologies to be introduced to potential foreign buyers. Opportunities exist for Maryland’s biotech and advanced tech firms to receive significant capital injections from outside buyers in exchange for certain foreign market rights, opening the doors for future international business opportunities. Currently, DBED supports three Maryland companies exploring this type of export sales. Contact DBED’s Bradley Gillenwater to learn more about the initiative.
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India Welcomes Bilateral Trade with MD
A delegation of six Indian companies visited Maryland on October 2-3 to expand investment opportunities and strengthen partnerships to boost bilateral trade with the State. Led by the U.S. India Importers Council, with whom DBED signed an MOU during the Gov. O’Malley’s trade mission to India in 2011, the visit featured a breakfast meeting hosted by the Governor, a networking event, and two dozen one-on-one meetings between the Indian delegates and Maryland businesses. Several new business relationships are expected as a result of these meetings.
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MPA Signs MOU with Port of Tallinn
The Maryland Port Administration and the Estonian Port of Tallinn signed an MOU last month establishing a strategic partnership aimed at increasing maritime business opportunities for both ports. Under the agreement, the two ports may elect to undertake joint marketing efforts to generate new shipping business, share data that may be helpful in forecasting future trade flows, and exchange information on training programs. The Port of Baltimore is on target for another record year as it heads into the fourth quarter of 2012 ahead of last year’s pace in several cargo categories.
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State Forms New Partnership with France
A delegation of business officials from the Cote d’Opale region of France recently visited Maryland to form a unique new alliance where economic development, history, and music converge. Initially arising from a nearly 150-year-old shared history through Maryland’s prominent Carroll family, the State and Cote d’Opale are building new trade, tourism, and research partnerships that leverage shared maritime strengths. With DBED’s assistance, officials will continue to expand and build off this historic relationship and bring continued prosperity between the two regions. Contact DBED’s Alison Wakefield to learn more. |
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Take Flight at Paris Air Show
Join Maryland June 17-23 in France at the 50th International Paris Air Show, the world’s premier aerospace event, to showcase your products and services to 138,000 show visitors, 2,000 exhibitors, 200 official delegations, and 3,000 journalists. The State will have a 60-square-meter booth with room for eight Maryland companies. Applicants are encouraged to apply for the Export MD Grant, which could reimburse up to $10,000 in costs for the show. Contact DBED's Carey Esslinger to learn more.
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