Governor Martin O'Malley's Weekly Economic Update Focuses on Job Creation
Economic Update from Port of Baltimore Highlights Growing Maryland Companies
ANNAPOLIS, MD (November 24, 2009) – In his weekly economic update released today, Governor O’Malley focused on efforts to strengthen and grow Maryland’s middle class by creating new jobs and expanding economic opportunities for Maryland’s small businesses and families.
Governor O’Malley’s economic update for this week can be viewed here.
“Our great challenge – and our great opportunity – is to make the connections that create jobs, fuel innovation, and drive progress,” said Governor O’Malley. “During this Thanksgiving week, we are starting to see signs of job growth and economic recovery even as we continue to focus on growing our economy, promoting innovation, and creating new jobs in our state.”
Last week, Governor O’Malley announced a 50-year agreement between the Maryland Port Administration (MPA) and Ports America Chesapeake that will allow the MPA to lease its 200-acre Seagirt Marine Terminal to Ports America. The agreement is expected to produce 5,700 new jobs and the total investment and revenue to the State of Maryland has the potential to reach more than $1.3 billion and generate $15.7 million per year in new taxes for Maryland.
In October, Maryland employers actually added 1,500 jobs marking the third positive month of job creation in Maryland over the last six months.
Governor O’Malley’s economic update for this week can be viewed here.
The Governor also highlighted two growing Maryland businesses. Chesapeake Shipbuilding will add up to 125 new jobs and expand its property along the Wicomico River. The company has been a Salisbury institution for more than 30 years, and is currently expanding and hiring more Marylanders to occupy its facility. And electronics retailer Hhgregg, Inc. just signed a lease to occupy an abandoned Circuit City distribution center in southeastern Prince George’s County, bringing 100 jobs to the 400,000 sq. ft. facility. Hhgregg, Inc. plans to aggressively expand in the region, including opening up to 45 new stores.
