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Maryland Channels Grant Funding to Drive Manufacturing Growth, Expand Global Marketing, and Address Digital Divide

Strategic Insights

— 2 min read

The state of Maryland is channeling grant funding to drive manufacturing growth, expand global marketing, and address the digital divide. The Office of Statewide Broadband (OSB) completed its proposal for the Broadband Equity, Access, and Deployment (BEAD) program to expand internet access across the state, though funding levels remain uncertain pending federal approval. Additionally, the Maryland Department of Commerce awarded grants to support international business development and established a new program to support efficient manufacturing projects that boost energy efficiency and cut emissions.

Key Takeaways:

  • The Office of Statewide Broadband (OSB) submitted its final proposal for the Broadband Equity, Access, and Deployment (BEAD) program to the National Telecommunications and Information Administration (NTIA) in September, planning to spend $78 million of its original $268 million allocation.
  • The OSB selected four companies for funding: Comcast, Verizon, Talkie Communications, and Amazon Kuiper, with Comcast slated to receive the largest share, about $50.2 million.
  • The Maryland Department of Commerce awarded nearly $500,000 in grants to support international business development, providing up to $5,000 in reimbursement funds to 99 small businesses across 15 jurisdictions.
  • The Maryland Manufacturing Assets Deployed for Energy program, run by the Maryland Department of Commerce, drew its funding from a $1.3 million grant previously awarded by the US Department of Energy, and applications for the second round of funding open in November.
  • The program supports efficient manufacturing projects that boost energy efficiency and cut emissions, with over a dozen local businesses securing a combined $180,000 to advance smart manufacturing projects.
  • The National Science Foundation awarded Bowie State University nearly $1 million to establish a computing hub where students can study artificial intelligence and connect with industry experts.
  • Johns Hopkins University unveiled a 150,000-square-foot, $250 million student center featuring a performance venue, recording studios, food hall, and esports lounge.
  • The University of Maryland Medical System plans to build a new outpatient care facility in Towson with an estimated cost of $110 million.
  • Constellation Energy Group reached a $340 million settlement with the State of Maryland and environmental groups to continue operating the Conowingo Dam in Cecil County.
  • Venture capital investment in Baltimore ticked up last quarter, with companies raising $95.7 million across 10 deals, and statewide, Maryland saw its strongest quarter in more than a decade, fueled by a $779 million mega-deal from nuclear energy company X-energy.
  • TEDCO invested in several startups, including JuneBrain, an AI-powered travel booking platform, and CoolTech, a medical device company that received $500,000 for its migraine treatment technology.

Statistics:

  • The BEAD program plans to spend $78 million of its original $268 million allocation.
  • The Maryland Department of Commerce awarded nearly $500,000 in grants to support international business development.
  • The Maryland Manufacturing Assets Deployed for Energy program drew its funding from a $1.3 million grant previously awarded by the US Department of Energy.
  • Over a dozen local businesses secured a combined $180,000 to advance smart manufacturing projects.
  • The National Science Foundation awarded Bowie State University nearly $1 million to establish a computing hub.
  • Johns Hopkins University's new student center features a 150,000-square-foot space with a $250 million budget.
  • The University of Maryland Medical System plans to build a new outpatient care facility in Towson with an estimated cost of $110 million.
  • Constellation Energy Group reached a $340 million settlement with the State of Maryland and environmental groups.
  • Venture capital investment in Baltimore ticked up last quarter, with companies raising $95.7 million across 10 deals.
  • Statewide, Maryland saw its strongest quarter in more than a decade, fueled by a $779 million mega-deal from nuclear energy company X-energy.

Sources:

  • Department of Commerce
  • Office of Statewide Broadband (OSB)
  • National Telecommunications and Information Administration (NTIA)
  • Maryland Manufacturing Assets Deployed for Energy program
  • National Science Foundation
  • Johns Hopkins University
  • University of Maryland Medical System
  • Constellation Energy Group
  • Technical.ly
  • Baltimore Business Journal

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