Governor Larry Hogan – Formal Web page for the Governor of Maryland

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Rural Maryland Financial Development Fund Allocates $50 Million to 15 Counties for Vital Financial Improvement Assignments

ANNAPOLIS, MD—Governor Larry Hogan nowadays introduced that 114 financial progress tasks in Maryland’s rural counties will be funded by means of the $50 million Rural Maryland Economic Advancement Fund. The grant fund, which is overseen by the Maryland Department of Commerce and administered by the five rural regional councils, was announced by Governor Hogan earlier this calendar year to raise economic enhancement action, encourage non-public sector expense, and make positions in the state’s rural regions.

Perspective the comprehensive record of Rural Maryland Economic Growth Fund tasks.

“Back in 2014, when I was very first functioning for governor, I reported that if I was elected the war on Rural Maryland would be around, and that communities that experienced been ignored and neglected would no longer be overlooked,” stated Governor Hogan. “We have designed great on that guarantee, offering unparalleled investments to our rural communities. These grants and the dozens of assignments they help will have a lasting and transformative affect, serving to to make these places more attractive for tourism, work opportunities, and economic enhancement. This is a different shining case in point of how we are actually altering Rural Maryland for the greater.”

Underneath the software, the 5 rural regional councils—representing the Upper, Mid, and Decreased Japanese Shore, Southern Maryland, and Western Maryland—each obtained $10 million to fund crucial assignments in their respective counties. In September, each individual council submitted applications for review by Maryland Commerce, with 114 projects obtaining acceptance. The checklist of approved assignments contain:

  • Enhancement of an agricultural biotechnology production middle in Talbot County ($500,000)
  • A comprehensive program to enhance airline support and make improvements to financial improvement through the Salisbury‐Ocean City Wicomico Regional Airport (SBY).
  • A new industrial park in Somerset County, which will assistance draw in organizations looking to increase in the Mid Atlantic region ($3.3 million)
  • Dredging in the West Ocean Town Commercial Harbor, which will gain waterfront- and marine-dependant companies as perfectly as thousands of recreational boaters ($275,000)
  • The growth
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Tech IPO market collapsed in 2022; next year doesn’t look much better

The Nasdaq MarketSite in New York.

Michael Nagle | Bloomberg | Getty Images

Following a record-smashing tech IPO year in 2021 that featured the debuts of electric car maker Rivian, restaurant software company Toast, cloud software vendors GitLab and HashiCorp and stock-trading app Robinhood, 2022 has been a complete dud.

The only notable tech offering in the U.S. this year was Intel’s spinoff of Mobileye, a 23-year-old company that makes technology for self-driving cars and was publicly traded until its acquisition in 2017. Mobileye raised just under $1 billion, and no other U.S. tech IPO pulled in even $100 million, according to FactSet.

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In 2021, by contrast, there were at least 10 tech IPOs in the U.S. that raised $1 billion or more, and that doesn’t account for the direct listings of Roblox, Coinbase and Squarespace, which were so well-capitalized they didn’t need to bring in outside cash.

The narrative completely flipped when the calendar turned, with investors bailing on risk and the promise of future growth, in favor of profitable businesses with balance sheets deemed strong enough to weather an economic downturn and sustained higher interest rates. Pre-IPO companies altered their plans after seeing their public market peers plunge by 50%, 60%, and in some cases, more than 90% from last year’s highs.

In total, IPO deal proceeds plummeted 94% in 2022 — from $155.8 billion to $8.6 billion — according to Ernst & Young’s IPO report published in mid-December. As of the report’s publication date, the fourth quarter was on pace to be the weakest of the year.

With the Nasdaq Composite headed for its steepest annual slump since 2008 and its first back-to-back years underperforming the S&P 500 since 2006-2007, tech investors are looking for signs of a bottom.

But David Trainer, CEO of stock research firm New Constructs, says investors first need to get a grip on reality and get back to valuing emerging tech companies based on fundamentals and not far-out promises.

As tech IPOs were flying in 2020 and 2021, Trainer was waving the

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