Archive for October, 2009

COLUMBIA – Corporate Office Properties Trust is the new owner of Canton Crossing, the 474,000 square-foot waterfront development in Baltimore.  The total package includes an office tower, parking lot, utility distribution center, four waterfront lots and riparian rights that are approved for 500,000 square feet of office, 150,000 square feet of retail, a 450 room hotel and a marina. The office tower is 91 percent leased with CareFirst as the largest tenant at 34 percent.

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ANNAPOLIS – Anne Arundel Economic Development Corp. has released its Sept/Oct list of new and/or expanding companies.  Topping the list of expanding companies are Arundel Metal Products, Booz Allen Hamilton, Maryland Primary Care Physicians, Oceaneering International and Sleep Solutions.

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ELLICOTT CITY – Howard Bancorp, the parent company of Howard Bank, said its Q3 numbers show net income of $57,000 compared to net income of $87,000 in Q2.  When compared to the year-ago period, there is a sharp decline from the $148,000 figure.  The company partly attributes the decrease to increased FDIC assessment costs.  The community bank has four local branches.

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This month’s meeting kicked off with upbeat news from Tim Campbell of BWI Airport who said that passenger traffic in August was six percent higher than it was in August 2008, and for September the number was 11 percent higher than the year-ago period.  Further underscoring the optimism of the meeting was keynote presenter Laura Gamble, chair of the Economic Alliance of Greater Baltimore.  Summary statement: she had 26 slides with reasons why the overall Baltimore region is a great place to do business.  Many stats covered the combined Washington-Baltimore region, and Maryland as a whole, but here are notable numbers and other info specific to the Baltimore area:

• #1 among 25 largest metros for per capita personal income growth, and 9^th in the amount of per capita personal income ($47,333)
• #4 best place to educate kids, according to Forbes
• 3^rd largest among 25 metros with the most advanced degrees
• 3^rd lowest unemployment rate among top 25 metros
• Anchors such as BWI, Fort Meade and Port of Baltimore
• BRAC, BRAC and BRAC.

We’ve formed a group on Linked-In – Join Us!  Once you master the secret handshake the cult element goes away and you’ll find that we are another avenue for bringing together the local business community around Anne Arundel.   In the group you will hear about the periodic gatherings we are planning, the discussions we’ll host and the jobs we know about.   Look for the group Arundel Business News.

BWI AIRPORT – The Transportation Security Administration has awarded $3.2 million to the airport to streamline the baggage screening system and enhance security levels.  The award will add conveyor lines and construct new spaces to perform screening for the more than 20 million yearly travelers.

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BWI AIRPORT – Just weeks after kicking off four daily Boston to Baltimore flights, JetBlue Airways is making plans for five non-stop flights each way between those cities beginning in March.  Fares start at $39 each way.

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ANNAPOLIS – Q3 losses at the parent of Severn Savings Bank was $4.4 million (unaudited), or ($.48) per share, which is heading in the right direction when compared to the $6.9 million net loss (unaudited) or ($.73) per share for Q2.  Losses were attributed to the increase in the loan-loss reserve of approximately $8.9 million, which is a non-cash charge against earnings.  Regulatory capital ratios continue to exceed the required levels, including the core (leverage) ratio of 12% vs. 5% for “well capitalized” status.

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GLEN BURNIE – The Bank of Glen Burnie has moved its South Crain branch one half mile south from the Park 97 shopping center to a newly constructed building at 740 Old Stevenson Road.  It will host a grand opening Oct. 29^th at 4 pm.

ANNAPOLIS – The City of Annapolis and Eastport Yacht Club reached agreement for the latter to host the Melges24 World Championship, a class of 24-foot yachts that has come to Annapolis for the first time.  The city announcement says the 50-plus boat event runs Oct. 24-31 and will contribute $500,000 to the local economy.  The formal name is the Sheehy Lexus of Annapolis Melges24 World Championship in recognition of the local sponsor.