Business Briefs

Fitch Affirms CA's $38M Senior
Secured Bonds at AA
Fitch Ratings has affirmed the Columbia Association's (CA) $38 million outstanding taxable senior secured bonds at the AA level. The bonds are payable from an annual assessment of up to $0.75 per $100 of assessed valuation on all taxable residential, commercial and industrial land and improvements in Columbia.
The AA rating reflects CA's solid senior secured bondholder coverage, rapid retirement of outstanding debt, strong financial results and long-term planning efforts, as well as the more limited nature of the pledged revenue stream.
The designation also reflects Fitch's belief that continued prudence in fiscal management and capital planning will allow CA to maintain sound levels of financial flexibility, despite credit concerns with a key developer, GGP, in an upcoming 30-year economic development project. CA's stable long-term financial planning has been a significant, ongoing credit strength.

ACell, Medline Announce
Agreement for MatriStem
Columbia-based ACell Inc. and Medline Industries have announced that Medline has signed an exclusive marketing and distribution agreement for ACell's MatriStem Wound Care Matrix.
Under the agreement, ACell will manufacture and Medline will market and distribute products. The regenerative medicine technology is a naturally occurring bioscaffold derived from porcine tissue. When MatriStem is placed onto a wound, it is resorbed and replaced with new native tissue where scar tissue would normally be expected.
MatriStem devices, currently available in sheet and powder form, can be used in a broad range of medical applications such as wound care, general surgery, gastrointestinal surgery, urology and plastic and reconstructive surgery. Wound care devices, home health care and hospital costs associated with wound care cost the U.S. health care system more than $7 billion in 2007.

Maryland Health Care Institutions Submit Plan for Digital Health
Info Exchange
A group of Maryland health care institutions, including Johns Hopkins Medical Institutions, Columbia-based MedStar Health, Erickson Retirement Communities and the University of Maryland Medical System has submitted its comprehensive plan for a statewide health information exchange (HIE).
Widespread adoption of health information technology can enable improvements in health care quality, help prevent medical errors and reduce health care costs by delivering essential information at the point of care. The plan addresses issues related to governance, privacy and security, technical architecture, hardware and software, implementation costs and financial sustainability.

JPB Enterprises Acquires Controlling Interest in The HR Team
Columbia-based JPB Enterprises (JPBE) has acquired a controlling interest in The HR Team, a provider of outsourced human resources consulting services in the Corridor.
Also based in Columbia, The HR Team's range of services to small and medium-sized businesses includes creating employee handbooks, recruitment and retention strategies, HR audits, benefits administration and the formation and recruitment of boards of advisers and directors, among others.

BWI Thurgood Marshall Airport Introduces Twitter Service
BWI Thurgood Marshall Airport has established a Twitter account to provide airport status reports and travel information on travelers' portable electronic devices.
Users may register as BWI Marshall Airport "followers" at www.twitter.com/BWI_Airport or via www.BWIairport.com. Followers will receive "tweets" (brief text messages) that provide status updates, flight information, parking availability and other useful airport information.

G&O Joint Venture Team Wins Major FEMA Risk MAP Contract
Laurel-based engineering consulting firm Greenhorne & O'Mara (G&O), as part of the Strategic Alliance for Risk Reduction Joint Venture team, was selected for a five-year contract with the Federal Emergency Management Agency (FEMA) to work on its Risk Mapping, Assessment and Planning (MAP) Strategy.
FEMA has developed the Risk MAP Strategy, which combines flood hazard mapping, risk assessment tools and mitigation planning into one seamless program.G&O's scope of work will include collecting new digital flood hazard data, creating maps and other Risk MAP products, and promoting partnerships with local communities, states and other groups to help reduce the risk of floods and improve flood planning across the country.

UM Business School Partners With
State Medical Society
The University of Maryland's Robert H. Smith School of Business has announced a partnership with MedChi, The Maryland State Medical Society, to deliver The Business of Practicing Medicine: A MedChi/Smith School of Business Program for Physicians.
Targeted toward the association's more than 7,000 physician members, the 16-session, eight-month program will offer participants a certificate of completion from the Smith School after successfully covering core concepts such as finance and accounting, marketing, operations and information technology, among others.

Merkle Introduces ICM Framework
Columbia-based Merkle has introduced Integrated Customer Marketing (ICM), an optimization framework designed to help organizations re-engineer their customer marketing strategy and business processes to actively manage customer and prospect interactions across sales, marketing and services throughout the customer lifecycle.
At its core, ICM involves enabling three main enterprise capabilities: customer segmentation based on attitudes, values and behaviors; a comprehensive database marketing platform to capture and manage vital information and data about prospects and customers; and a measurement capability to understand the value of customers and the impact that sales, marketing and service activity have on their behaviors.

Arundel Poised to Eliminate
More Than 100 County Positions
Anne Arundel County is poised to eliminate more than 100 vacant positions in County Executive John Leopold's upcoming budget proposal to save almost $5.7 million each year. The vacant positions have been frozen since last October.
Since the third hiring freeze began in October 2008, the county has kept funded positions on the books without replacing workers who have left county government. Eliminating more than 100 of those vacant positions will save an estimated $5,667,475 annually. The budget will be presented to the county council on May 1.

Arbitron Announces Workforce, Expense Reductions
Columbia-based Arbitron has announced, as a further step in its previously announced strategic realignment, a reduction in its workforce of approximately 10% of its full-time employees. The company also is implementing a reduction in non-employee related expenses on a company-wide basis.
The company anticipates that it will incur pre-tax expenses of approximately $8 million to $9 million in the first quarter of 2009, related principally to severance and benefit expenses as a result of this restructuring and expense reduction program. Taken together, the workforce and expense reductions are expected to result in a reduction in the 2010 run rate expenses of more than $10 million.

Continued Rise in IT Salaries Bodes Well for Greater Baltimore
A new survey released by IT training company Global Knowledge indicates that, despite the recession, the salaries of information technology professionals continue to rise across the nation.
According to statistics compiled by the Economic Alliance of Greater Baltimore, among the largest metro areas in the U.S., Baltimore-Washington ranks first in concentration of IT occupations and professional, scientific and technical services concentration and growth; second in total employment in IT occupations; and sixth in entrepreneurship.

Technology Startups Choose
CIC for Acceleration
Speech Conversion Technologies and iNovex Information Systems have chosen the Chesapeake Innovation Center (CIC), as the address to grow their businesses.
Speech Conversion Technologies offers near real-time voice-to-text technology. A CIC affiliate member in Silver Spring, the company is developing patent-pending software to create near real-time, speaker independent, automated voice-to-text solutions.
iNovex Information Systems specializes in the strategy and management of information technology for government contractors and the intelligence community. A CIC resident member company, iNovex focuses on systems engineering, database development and software engineering.

j-ref Funds New Business,
Terrapin Adventures
j-ref, a small business financier in Howard County, and Howard Bank recently partnered to co-loan $400,000 to Terrapin Adventures, a new adventure tourism company in Historic Savage Mill.
A $150,000 loan from j-ref will be used for equipment and working capital, which will be applied toward an adventure course of zip lines, climbing towers and giant swings on-site. Howard Bank loaned $250,000 to develop the course, designed for individual recreation, team building or group outings. Its grand opening is planned for April 17.

Panacea Biotec to Make a $13.1 Million Strategic Investment in PharmAthene
Annapolis-based PharmAthene, a biodefense company developing medical countermeasures against biological and chemical threats, has entered into a strategic alliance with Panacea Biotec Ltd. The alliance includes a strategic equity investment in PharmAthene by Panacea Biotec, through its subsidiary, Kelisia Holdings Ltd., of $13.1 million in exchange for the sale of common stock and warrants.
Upon the closing, Panacea Biotec's subsidiary also will receive 12-month warrants to purchase up to approximately 2.75 million additional shares of PharmAthene common stock at an exercise price of $5.10 per share.

CSB School of Broadcasting
Closing Columbia Campus
CSB School of Broadcasting will be closing all 26 of its campuses, including its location at 9891 Broken Land Parkway in Columbia, as it plans to cease operations and file for bankruptcy protection.
While CSB's operations have been dramatically impacted by recent changes in the private student loan market, the decision to file is the result of recent actions taken by its lender, National City/PNC Bank, including the seizing of bank accounts held by CSB.

AAEDC Board of Directors Supports Legislation for Video Lottery Facilities
The Anne Arundel Economic Development Corp. (AAEDC) Board of Directors has voted to support proposed zoning legislation allowing video lottery terminals, with an estimated economic impact of 1,500 new permanent jobs and 2,500 new construction jobs.
Bill No. 10-09 will provide zoning regulations authorizing video lottery terminals as a conditional use in the W-1 Industrial Park zoning district and in regional commercial complexes. The bill spells out requirements for this conditional use including parking accommodations, compliance with traffic studies, transportation management and compliance with all regulations for the district in which the facility is located.

Ciena to Cut 200 Jobs, Close Massachusetts Facility
Linthicum-based Ciena has laid off 200 employees, or 9% of its global workforce, with reductions occurring across every company division. As part of this action, the company will close its Acton, Mass., research and development facility during the next four months. Ongoing development work previously conducted at the Acton facility will be consolidated.
"We expect that, over the next few quarters, the combination of the cost-reduction initiatives we implemented during our fiscal first quarter and the headcount- and facilities-related cost reductions we've announced today will reduce our adjusted (non-GAAP) quarterly operating expenses to approximately $80 million," said Gary Smith, Ciena's CEO and president.

Leopold Submits Slots Legislation to County Council, Focuses on Safeguards
Anne Arundel County Executive John Leopold has submitted legislation to the county council that would allow conditional use zoning for slots facilities at Laurel Park and Arundel Mills.
"The legislation requires submission of a traffic management plan by the applicant," Leopold said. "Any proposal will have to comply with the Adequate Public Facilities law and the Water and Sewer Master Plan. The legislation also contains requirements for setback, height and size limits. It does not allow slots in zones other than the two for which applications have been received by the Maryland Lottery Commission."

Peyak Solutions Becomes Resident of Howard's NeoTech Incubator
Peyak Solutions Inc., an IT firm providing consulting, sales and services in both the federal and commercial sectors, has joined Howard County's Center for Business and Technology Development's NeoTech Incubator as one of its newest residents.
"In the coming year, Peyak plans to grow, establish and develop partnerships with other companies as prime or subcontractors to deliver comprehensive solutions to our customers. In addition, Peyak hopes to receive Minority Business Enterprise and 8(a) Small Disadvantaged certifications as well as getting on the General Services Administration (GSA) schedule," said President and CEO Leah Conover.

Mikulski, Cardin Announce
$15M for BWI Marshall
U.S. Senators Barbara Mikulski and Ben Cardin have announced that the U.S. Department of Transportation has awarded BWI Thurgood Marshall Airport an Airport Improvement Program (AIP) grant for $15 million.
The funds will be used to rehabilitate two of the airport's aprons, on Piers C and D, and can be used for exterior capital improvements and repairs including: new runways, aprons, lighting, planning and land purchases. Revenues for AIP come from airport user fees and fuel taxes. Congress provided $3.5 billion for AIP this year.

Columbia-Based Paratek Acquires Division of Gennum Corp.
Paratek has purchased Gennum Corp.'s barium strontium titanate (BST) technology group and its associated assets. Paratek also has developed a proprietary form of BST, ParaScan, as the leading RF tuning component technology for mobile handsets.
Financial details of the deal were not disclosed. The transaction augments an agreement with STMicroelectronics announced in January 2009. That relationship advances the next generation of Paratek's ParaScan materials technology for high-volume manufacturing and establishes a program to jointly develop tunable products that improve total radiated power for mobile phones, leading to longer battery life and fewer dropped calls for mobile handsets.

Muvico Theaters Sells Muvico Egyptian at Arundel Mills
Muvico Theaters has retired all its senior debt obligations to a New York-based institutional investor by selling four Muvico theater locations to Plano, Tex.-based Cinemark USA Inc., including the Muvico Egyptian at Arundel Mills in Hanover and three in Florida.
These locations will be rebranded under the Cinemark name during the next few months. This transaction will enable Muvico to continue operations in its 10 remaining locations, most of which are also in Florida. Joseph Amaturo, a South Florida entrepreneur and long-time Muvico investor, is now the sole owner of the company.

PharmAthene Announces $5.5 Million Public Equity Offering
Annapolis-based PharmAthene, a biodefense company developing medical countermeasures against biological and chemical threats, has announced that certain institutional investors have agreed to purchase approximately $5.5 million of its common stock and warrants in a registered public offering.
Under the terms of the purchase agreements, PharmAthene will sell an aggregate of 2,116,055 newly issued shares of its common stock at $2.60 per share and warrants to purchase an aggregate of 696,295 shares of its common stock at an exercise price of $3.00 per share. The company intends to use the net proceeds from the transaction for general corporate purposes, including the satisfaction of existing obligations.

Ciena Helps Korea Exchange Increase Bandwidth Efficiency
Ciena Corp., based in Linthicum, has announced that the Korea Exchange (KRX), a premier capital market in Northeast Asia, has deployed Ciena's optical service delivery platforms as part of its data center consolidation efforts.
The solutions provide connectivity in KRX's data center architecture to ensure the delivery of time-sensitive applications and reliable business continuity and disaster recovery services while reducing overall network bandwidth consumption. In the highly competitive financial services market, a few milliseconds' delay in the execution of trades can cost an exchange millions in lost transactions.

Glen Burnie Bancorp Announces Large Repurchase of Common Stock
Glen Burnie Bancorp, parent company of The Bank of Glen Burnie, has repurchased all 274,179 shares of its common stock held by Eugene Nepa in a privately negotiated transaction.
Pursuant to the agreement, the company has purchased all of Nepa's share holdings, or approximately 9.24% of the company's total outstanding common stock, for $9.30 per share, or a total of $2,549,864.70. The price per share is $.10 per share less than book value, and the purchase will be funded through available cash. Since its announced stock buyback program, the company has repurchased 55,300 shares.

Leopold Announces $386,000 in Federal Stimulus Aid for Bus Service
Anne Arundel County Executive John Leopold has announced that federal stimulus funds will be used to purchase two ultra-low sulfur diesel-powered buses in order to provide service to Fort Meade, surrounding communities and nearby MARC rail stations.
The $386,000 in federal aid includes the purchase of radios, GPS devices, fare boxes, wheelchair accessibility equipment and bike racks. The county will assume operating costs. The buses are slated to operate on peak hours Monday through Friday.

Maroon Inks O's Star Markakis to Promotional Deal
Maroon PR has been selected by Baltimore Orioles' outfielder Nick Markakis to perform a number of activities on his behalf. The firm will help Markakis and his wife, Christina, form a nonprofit organization that will improve the lives of children throughout Maryland.
In addition, Maroon PR will work to broaden Markakis's national brand as a Major League Baseball player through media outreach and the formation of strategic partnerships.

GP Awarded Fleetwide Performance Monitoring for Progress Energy
Elkridge-based global performance improvement solutions provider General Physics Corp. (GP), a subsidiary of GP Strategies Corp., was awarded a contract by Progress Energy to provide the EtaPRO Performance and Condition Monitoring System for Progress Energy's fossil power generation plants.
This application provides real-time monitoring of power plant systems, providing information that enables plant operators to improve fleet performance and profitability while reducing carbon emissions. GP will provide an Enterprise EtaPRO License for Progress Energy's 17,200 megawatt fossil steam and gas turbine driven power plants located in Florida and the Carolinas.

Capitol College Reduces Summer Tuition Rates
Capitol College, of Laurel, will reduce undergraduate tuition rates by one-third for the 2009 summer semester, marking Capitol's third year of providing such a discount.
Undergraduate students taking a class in any of Capitol's engineering, computer science or technology degree programs should expect to pay $401 per credit hour, while business and management students will see their per credit hour rate drop to $219. Registration for the summer 2009 semester began March 24.

MEC Delisted From NASDAQ
Aurora, Ontario-based Magna Entertainment Corp. (MEC), owner of Pimlico Raceway and Laurel Park, has received notification from NASDAQ indicating, in accordance with Marketplace Rules 4300, 4450(f) and IM-4300, that MEC's securities will be delisted.
The delisting is as a result of, among other reasons, MEC's announcement that it filed a voluntary petition for relief under Chapter 11 in the United States. MEC does not intend to appeal NASDAQ's delisting decision and, accordingly, the trading of MEC's Class A Subordinate Voting Stock was suspended at the opening of business on March 16.

Broadstripe Vies for Residents' Cable, Phone, Net Access
Broadstripe LLC has made substantial upgrades to the plant that serves its Maryland communities. Broadstripe, a broadband telecommunications business, provides a range of state-of-the-art digital cable, broadband Internet and home phone services to customers in Anne Arundel County.
The plant enhancements include upgrading Broadstripe's fiber optic network, adding a number of new nodes, additional backup power supplies and other upgrades, and the hiring of eight additional technical and support staff. The company's internal testing results show that the company will be able to deliver 60% improvements in bandwidth and reliability. Broadstripe employs 75 people in Maryland and services tens of thousands of customers.

Martek Set as Sole-Source Supplier of DHA, ARA for Chinese Brand
Martek Biosciences Corp. has entered into a multi-year DHA and ARA sole-source supply agreement with Rice Field Corp. that calls for Martek to supply its DHA and ARA blend, life'sDHA and life'sARA, for all infant formula products manufactured by Rice Field Corp. under the Prodigy brand.
In addition, Rice Field will be using Columbia-based Martek's life'sDHA and life'sARA in its growing up milks and will be using life'sDHA in its products for pregnant and nursing women, all of which will be sold under the Prodigy brand in China.

DocPoint Implements SharePoint, Digital Doc System in N.J.
Fulton-based DocPoint Solutions has implemented an electronic document sharing system for the Newark Housing Authority in New Jersey. For the project, DocPoint implemented Microsoft Office SharePoint Server (MOSS), which is software that enables employee collaboration via a secure intranet, along with a custom electronic document management system (EDMS).
The MOSS system makes it possible for the 25 employees of Newark's Housing Choice Voucher program, which serves about 5,000 families in Newark, to share documents and files on a secure intranet portal. The EDMS system enables staff members to search for, retrieve and access needed documentation for program participants directly from their desktop computers.

Columbia BioSystems
Receives Key Grants
Columbia BioSystems, a new tenant of bwtech@UMBC's incubator, has been awarded two grants from the state of Maryland: a $149,000 grant from Maryland Industrial Partnerships and a $75,000 Maryland Technology Transfer Fund award from the Maryland Technology Development Corp. (TEDCO).
The company was spun off from Raptor Detection Inc. and moved to bwtech@UMBC last December. The company licensed molecularly imprinted polymers (MIPs) technology from The Johns Hopkins University Applied Physics Laboratory and the University of Maryland and is developing MIPs to detect viruses, bacteria and parasites, focusing on public health applications.

GP Parent Announces More Than $16 Million in New Alternative Fuels Work
Elkridge-based GP Strategies Corp. has announced that its subsidiary, global performance improvement solutions provider General Physics Corp. (GP), has been awarded contracts to design and construct multiple liquefied natural gas (LNG), liquefied to compressed natural gas (LCNG) and hydrogen fueling stations totaling more than $16 million during the past six months, including the previously announced award by the City of Los Angeles valued at approximately $10 million.
Alternative fuels work is a major emphasis for GP to support U.S. initiatives to reduce greenhouse gas emissions, improve air quality and reduce dependence on imported oil. The City of Los Angeles project also includes significant non-fueling station work, leveraging GP's ability to handle more traditional construction.

Leopold Announces Stimulus Funds for Meade Village and Pinewood Village
Anne Arundel County Executive John Leopold has announced that federal stimulus funding from the Department of Housing & Urban Development will be used to complete upgrades and renovations at communities in Severn and Pasadena.
The Housing Commission of Anne Arundel County received $1.9 million from the stimulus package to help expedite renovations in the two communities. The money will be used as part of a $3.1 million project to renovate kitchens and bathrooms at Meade Village in Severn and Pinewood Village in Pasadena. "These are worthy projects that will help about 320 families," said Leopold. "We hope to begin work on these communities this spring."

Merkle Releases 'View From the Inbox' E-Mail Marketing Trends Report
Columbia-based Merkle has released its 2009 "View From the Inbox" e-mail marketing report. This report highlights the results of Merkle's annual study, which is conducted on behalf of Merkle by the national survey research firm Harris Interactive.
The study sets out to measure the attitudes and behaviors regarding permission-based e-mail among U.S. consumers. Permission-based or "opt-in" e-mail marketing is a marketing approach used to reach consumers who voluntarily sign up to receive updates, offers and information from select organizations. The report is available free of charge at www.merkleinc.com/inboxwhitepaper.

New Inn/B&B in Works for Ellicott City's Main Street
Wilson-Garland Properties purchased the commercial building at 8060 Main Street in Historic Ellicott City. The building, which has been unoccupied for several years, is a five-story, mixed-use building that is located next to Cacao Lane.
Within 18 months, the partners plan to renovate the space and transform the former seamstress shop into a combination inn/bed and breakfast. The firm, owned by developers Bert and Suzanne Wilson and partner Joan Garland, has initiated the planning stages of the project.

Benefits Brokerage Corporate Synergies Opens Office in Columbia
Mt. Laurel, N.J.-based Corporate Synergies Group, a multi-state benefits consultant and brokerage firm, has expanded into Columbia. The company already has a significant client base in the Baltimore-Washington region and opened the new office to better serve its existing and new customers.
Corporate Synergies employs more than 250 people and has offices in Mt. Laurel and Paramus, N.J.; New York and Garden City, N.Y.; King of Prussia, Pa.; and now Columbia.

Homewood Suites Columbia Honored
The Homewood Suites by Hilton's Columbia location was awarded the Pride Award of Merit and the Highest Extended Stay Percentage awards at the brand's recent 20th annual conference in San Diego.
The brand's annual conference gives general managers and sales directors the opportunity to participate in a variety of intensive training programs, including sessions on revenue management, food and beverage, and sales and marketing.

Stallings a Future 50 Winner for
Second Consecutive Year
Deborah Stallings of HR Anew in Columbia was recently named among Baltimore SmartCEO magazine's Future 50 award winners for the second straight year. The list recognizes the 50 fastest growing companies in the Greater Baltimore area based on employee and revenue growth.
This year's Future 50 winners collectively employ 5,500 people and generate more than $2 billion in revenue annually. Winners were recognized at the event, which was held at the Baltimore Marriott Waterfront Hotel.

GM Recognizes Fox Chevrolet
General Motors has announced that Fox Chevrolet, of Laurel, has received the GM Certified Used Vehicles Sales Leader Award for 2008. The GM Certified Used Vehicles Program honors the top-selling dealership in the Northeast region annually.
Among the 759 GM Certified Used Vehicle dealers in the Northeast, Fox Chevrolet was No.1. GM Certified Used Vehicles sold an industry-leading 422,114 units in 2008, finishing as the nation's top-selling manufacturer-certified brand for the seventh consecutive year.

Solvern Innovations Establishes Center of Excellence Facility
Solvern Innovations, a bwtech@UMBC Research Park company that specializes in comprehensive research and development products and solutions, acquisition and business management services, and training and technology development, has established a Center of Excellence.
The center will train Department of Defense employees and contractors
in business management, acquisition, logistics and procurement processes. According to CEO Andre Gudger, it is the first in the federal government to focus on business management. It will also function as a think tank.

ABN Unveils New Partnership
With Centrovet
Columbia-based Advanced BioNutrition Corp. (ABN) has announced that its Chilean strategic partner, Centrovet Laboratories, has obtained provisional registration for a freeze-dried, oral-powder vaccine to aid in the prevention of Salmon Rickettsial Syndrome (SRS) in Chilean salmonid species.
The vaccine is delivered in salmon feed by means of ABN's patented MicroMatrix Targeted Delivery Systems. SRS is considered one of the most important disease problems in the Chilean salmon farming industry, with economic losses of more than $100 million in some years. The new oral vaccine is expected to produce effective control of this virulent pathogen.

Trusant Receives Future 50 Award
Trusant Technologies, an enterprise content management company, has been named to the Baltimore SmartCEO Future 50. Trusant provides project management and mission assurance, among other services, using state-of-the-art technologies and solutions for federal agencies such as the departments of Defense and Homeland Security and various intelligence agencies.
The company also sold its services to the Food and Drug Administration and U.S. Courts. It has also expanded into an office in San Antonio, Texas.

Howard County Launches New Web-based Development Tracking Tool
The Howard County Department of Planning & Zoning has launched a new and improved web-based tool that will make it easier to track development projects in Howard County.
Highlights of this enhanced technology are improved imagery and mapping capabilities, comprehensive development activity data, scanned images of completed plans and staff contact information for each project.
To try out the new tool, visit www.howardcountymd.gov/DPZ/DPZ_HomePage.htm and click on Search Development Plans & Public Meetings under the What's New section. For more information, call 410-313-2350.

COPT Offers 2.1 Million
Common Shares
Corporate Office Properties Trust (COPT) has announced plans to issue 2.1 million common shares in an underwritten public offering that is being made in conjunction with the company's inclusion in the S&P MidCap 400 Index after the market closed on April 1. The shares will be issued pursuant to an effective shelf registration statement filed with the Securities and Exchange Commission.
The underwriters will be granted a 30-day option to purchase up to an additional 315,000 shares. The joint book-running managers for this offering are Merrill Lynch & Co. and KeyBanc Capital Markets. Columbia-based COPT plans to use the net proceeds from the sale to repay borrowings under its unsecured revolving credit facility and for general corporate purposes.

Muir Buys Rapid Sign Center
Jay Muir, a long-time employee of the Rapid Sign Center in Columbia, recently purchased the business with his wife, Kathy. Jay Muir has worked for the company for eight years, managing the business for former Owners Joe and Judy Brown. The custom sign company produces residential signs, banners, trade show displays, vehicle graphics and large format printing.

Startups Receive Nearly
$513,000 From TEDCO
The Maryland Technology Development Corp. (TEDCO) has announced that seven Maryland technology companies have received $512,637 total in funding, including Vorbeck Materials Corp. of Jessup. Each business received approximately $75,000 from TEDCO's Maryland Technology Transfer Fund.
Vorbeck is working with the Army Research Laboratory to develop and manufacture applications using Vor-x, Vorbeck's novel graphene material, as an electrical contact to semiconductor materials like silicon and silicon carbide. The results and technical know-how generated as part of this study will be used to identify applications for these contacts in mainstream and niche electronics applications.

BPW Approves $180K in Grants
The Maryland Board of Public Works has approved $180,000 in grants to reduce nitrogen from septic systems and improve drinking water supplies to protect public health, $30,000 of which was awarded to a local company.
That amount was slotted for J.R. Enterprises. The $30,000 grant increase, in addition to a previous grant of $60,000 from the Bay Restoration Fund, will upgrade an on-site sewage disposal facility at Inwood Shopping Center. The upgraded facilities will prevent more than 320 pounds of nitrogen annually from draining into local waterways and the Chesapeake Bay.