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Newsletter for March 19, 2025

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Federal chaos continues: Some Maryland federal employees are getting reinstated this week following an order from a local judge. Many will be back, but on administrative leave. Does this impact you? Hit "reply" and let's chat.

Let's get into today's newsletter. Baltimore saw higher business-based tax revenue and manufacturing spikes in 2024. The org leading the regional federal Tech Hubs bid unveiled that data and its new "brand" for the area this week.

Also, there are plenty of corporate and investment terms that can confuse even people who work in the worlds we cover. "Valuation" is one of them. Whether you don't know what it means or want a refresher, check out our explainer down below.

— Kaela, Technical.ly lead reporter in Baltimore and DC

Image of the Day: Towson University (Kaela Roeder/Technical.ly)
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Connect with Technical.ly's community

Baltimore's economy by the numbers

The Greater Baltimore Committee released a “scorecard” for the second year in a row this week, and it focused on economic different data like venture capital flow and tax revenue throughout the city and surrounding counties. The group also released its regional brand: "Bold Moves."

Baltimore saw some major development deals and an uptick in manufacturing activity, though investments in companies is down.

“With the release of the 2024 scorecard,” said Thomas, “we have the data that shows our region has a healthy level of investment, but we’d love to see more.” Continue reading ...

What does valuation mean, anyway?

"Shark Tanks" fans have definitely heard the term valuation. But outside of the hit TV show, it's important to know what the term actually means.

It's essentially the startup or company's worth. But the metrics for that number aren't so straightforward. Continue reading ...

Technical.ly Partner Updates

Three people smiling in front of a Maryland Stem Cell Research Fund banner at an event.

This stem cell research fund is transforming patient care in Maryland

Over the past 18 years, the MSCRF has allocated $208 million in funding to 600 research projects and 41 different entities within the state.

📰 News Incubator: What else to know

• Technical.ly is giving away a trip package to Philadelphia in May, just in time for our annual Builders Conference and Philly Tech Week. Enter for a chance to win! [Technical.ly]

• The CEO at the Baltimore public company Rekor Systems CEO stepped down after less than a year on the job. [Baltimore Business Journal]

• Two companies merged to create the biotech company 11Three, housed at the University of Maryland BioPark. [University of Maryland]

• Baltimore's city government released a report about digital equity progress, which includes expanding its free WiFi network and building out tech training. [Office of Mayor Brandon Scott]

• Recast City, based in DC, created the “SPARK Scorecard” to help cities revamp business districts in all parts of the country through entrepreneurship. Its CEO has previously written about Baltimore's prowess in manufacturing. [Recast City/Technical.ly/Next City]

• Constellation Energy, HQed in Harbor East and the city's only Fortune 500 company, is the largest operator of nuclear energy in the US. Peak inside its nuclear plant in Southern Maryland, and here's a timeline of its operations. [Baltimore Banner]

• Gov. Wes Moore announced that a business-to-business tax would not pass amidst budget talks. [Maryland Matters]

• Consumer products developer and designer Lifetime Brands is establishing a distribution center in Hagerstown. [Maryland Department of Commerce]

🗓️ On the Calendar

• Partner Event: Early-stage founders can have the opportunity to meet investors at an event hosted by Next powered by Shulman Rogers on April 22. Applications close on March 21. [Details here]

• Learn about corporate law related to technology at a University of Maryland forum on March 24. [Details here]

• Johns Hopkins University's School of Medicine is holding an event on March 25 to recognize innovations created at the university. [Details here]

• Attend a youth innovation showcase featuring students of Dent Education's programming on March 25, as part of Equitech Tuesday. [Details here]

• Cowork with fellow developers at the next Baltimore Code and Coffee on March 29. [Details here]

Job market: Find your place

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➡️ Search all open jobs and hiring companies

This Week in Jobs: High five for these 24 tech career opportunities

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Image of the Day: Towson University (Kaela Roeder/Technical.ly)Have a photo or chart we should feature here? Hit reply and send in your submission.