Three tech companies sign leases at North Baltimore office building

Two tech companies and a marketing firm have signed lease deals to move into the Hangar Building in North Baltimore, despite a market slowdown this spring during the Covid-19 pandemic. CreditXpert, Tricerat and the Harvey Agency have leased a total of 22,463 square feet in the former airplane parts manufacturing plant at 1600 W. 41st St., owned and developed by Seawall Development. (Balt Bus Journal)

Read Full Article

Wells Fargo will pay Maryland $20M in settlement

Wells Fargo & Co. will pay Maryland $20 million in settlement of claims the mortgage company misled investors – including state and local government entities – regarding the durability of its residential loans in the years preceding the Great Recession. Wells Fargo admitted no wrongdoing in agreeing to the settlement of administrative claims brought by the Securities Division of the Maryland Attorney General’s Office. (Daily Record)

Read Full Article

Retail store selling PPE to open in Columbia

The owners behind an events-focused company that recently pivoted to manufacturing personal protective equipment are trying their hand at opening a PPE retail store. Elkridge's Hatch Exhibits typically specializes in producing exhibit and branding displays for trade shows, museums and other events. Co-owner Chris McCormick said the coronavirus pandemic-induced wave of event cancellations had initially forced the company to close its doors and lay off about 25 full-time workers in March. (Balt Bus Journal)

Read Full Article

In a ‘kind of nuts’ time for Carroll County businesses, Maryland delays ban on use of foam containers

In an effort to give small businesses and schools a chance to use up their stock of foam food and drink containers, the Maryland Department of the Environment announced Tuesday the state’s ban on the containers would not go into effect until October. The statewide ban on polystyrene, better known by the brand name Styrofoam, was scheduled to begin July 1. Instead, it will start Oct. 1, or 30 days after Gov. Larry Hogan’s state of emergency is lifted, whichever is earlier, MDE announced in a public notice. (Balt Sun)

Read Full Article

Anne Arundel Mission Escape Room locations opening Friday as part of coronavirus phase two reopening

An Annapolis escape room will reopen Friday as a number of entertainment attractions like casinos, arcades, and malls may begin to resume operations during phase two of Gov. Larry Hogan’s coronavirus pandemic recovery strategy. Mission Escape Rooms will allow small groups of between one and 10 people to participate, though only families will be allowed to book together. Previously groups who booked separately could be paired together. (Balt Sun)

Read Full Article

Juneteenth holiday: Nike, NFL, more companies are making June 19 a paid day off

Nike, the NFL and other businesses will give their employees a day off for Juneteenth for the first time this year, the latest example of how American employers are responding to protests that have placed additional attention on racial injustice in the U.S. Juneteenth commemorates June 19, 1865, when Major General Gordon Granger came to Galveston, Texas, to announce the end of the Civil War and slavery. Although the Emancipation Proclamation had abolished slavery in Confederate-held territory more than two years earlier, it continued in Texas and some areas. (Balt Sun)

Read Full Article

Maryland casinos can soon reopen. State revenue has taken a big hit because of their closures.

The mid-March closure of Maryland’s casinos because of the Covid-19 crisis continues to leave quite a hole in state coffers. And though the venues are allowed to reopen later this month, it’s likely to be a long time before state revenue contributions return to pre-pandemic levels. The state’s six casinos have generated $1.25 billion in gaming revenue during the current state fiscal year, which ends June 30. That’s down $372.5 million, or 23%, from the previous fiscal year, with no gaming revenue since March 16. (Balt Bus Journal)

Read Full Article

PPP lending increases for second consecutive week amid rule changes

Money approved for loans to small businesses through the federal Paycheck Protection Program has increased for the second consecutive week, according to figures from the U.S. Small Business Administration released Monday. The SBA reported $512.27 billion in loans had been approved as of June 12, serving 4.58 million businesses, through the second round of PPP funding. In Maryland, 75,459 loans have been approved totaling $9.85 billion. Maryland ranks No. 21 for number of PPP loans approved and No. 17 for for dollar volume. (Balt Bus Journal)

Read Full Article