News

Project Restore Accepting Next Round of Applications in Early July

Application scheduled to open 7/7/2022 at 12:00 PM EST

Project Restore will provide $25 million to fill vacant retail and commercial buildings and support business investment, job creation, and economic growth in Maryland’s communities. Businesses opening or expanding into vacant retail and commercial properties may be eligible for Project Restore grants from the Maryland Department of Housing and Community Development. Project Restore grants can help new and growing businesses with rent payments and operating costs in their first year.

Project Restore provides two grant opportunities for businesses, including nonprofits, that are expanding, moving to or opening in a property that was previously vacant for at least six months:

Property Assistance Grant: Provides up to $30,000 for one year to support costs associated with rent, mortgage payment or property improvements as applicable.

Business Operations Grant: For businesses that generate sales and use tax, provides up to $250,000 per calendar year to support capital (property improvements, equipment etc.) and operating (staff salaries, marketing, inventory etc.) costs associated with business operations in the vacant property.

Please visit https://dhcd.maryland.gov/projectrestore for more details and how to apply.

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Friday Five – June 3, 2022

1. Five takeaways from Biden’s inflation plan
On Tuesday, President Joe Biden laid out a plan in a Wall Street Journal op-ed to fight inflation levels. Although levels dipped in April to 8.3%, they continue to trend at a 40-year high. He said that bringing down inflation is his top economic priority. The gist of the plan is to not intervene with the Federal Reserve’s approach to fight inflation by raising interest rates to bolster the purchasing power of the dollar and instead support damaged supply chains to balance out supply and demand issues.”I won’t meddle with the Fed, but I will tackle high prices while guiding the economy’s transition to stable and steady growth,” Biden wrote. The plan also talks about bringing down demand by continuing to reduce the federal deficit, which is projected to fall by $1.7 trillion this year. Overall, both Biden and the Fed agree that dropping prices for American consumers without a drop in overall economic growth should be their ultimate goal. The Hill provides 5 key takeaways from Biden’s plan here.

2. Hogan vetoes 18 bills as part of final action needed on nearly 300 bills
Last Friday, Governor Hogan announced he would veto 18 bills and allow nearly 300 bills passed by the legislature to go into effect without his signature, officially marking the end of the Maryland 2022 legislative session. One of the most notable bills vetoed included a measure that would have allowed voters to correct their signature-less ballots after mailing them in to get counted. But he said he was rejecting the bill because it lacked any way to verify the signatures in that process.”[A]s our vote by mail numbers rise, the missing piece in this legislation is that balance — for even the appearance of impropriety or the opportunity for fraud can be enough to undermine citizens’ confidence in their electoral system,” Hogan wrote. Hogan’s other vetoes included bills that would have affected public utilities and Baltimore transit and allowed people to deduct their union dues from their state income taxes. Read the full story here.

3. SECURE Act 2.0 passes House, signaling massive retirement savings and investment policy shift
In a 41-45 vote on Sunday, the U.S. House of Representatives passed the Securing a Strong Retirement Act of 2022, representing a massive economic policy shift regarding retirement savings and investment if passed into law. The retirement savings legislation, also known as SECURE Act 2.0, expands on the original SECURE Act and includes provisions to boost the required minimum distribution (RMD) age from 72 to 75 over time, broaden automatic enrollment in retirement plans and enhance 403(b) plans. In his “Update on the March-April Work Period” letter last Wednesday, House Majority Leader Steny Hoyer stated that: “By expanding automatic enrollment in employer provided retirement plans, simplifying rules for small businesses, and helping those near retirement save more for longer, this legislation will help increase Americans’ access to retirement funds and help families save for the future.” Read the full story here and if you own a small business, here are 7 things you should know about the new retirement bill.

4. U.S. economy adds 390K jobs in May, unemployment holds at 3.6 percent
Data released today by the Labor Department showed that the U.S. added 390,000 jobs and the unemployment rate held even at 3.6 percent in May. The May jobs report was largely in line with economists’ projections, who saw the U.S. gaining 350,000 jobs last month and pushing the unemployment rate down to 3.5 percent, its level in February 2020. Economists also rightly predicted job growth to slow in May after the U.S. added more than 2 million jobs this year despite high inflation, staggering gas prices, rising interest rates, and fading fiscal stimulus. The data also showed that the labor force participation rate and the employment to population increased by 0.1 percentage points in May to 62.1 and 60.1 percent, respectively. Experts believe the higher labor force participation, slower wage growth, and stable unemployment could be a sign of lesser labor shortages. Read the full story here.

5. Port of Baltimore gets $15.6M to improve rail infrastructure
Port officials announced on Wednesday that the Helen Delich Bentley Port of Baltimore will receive $15.6 million from the Federal Railroad Administration (FRA) Consolidated Rail and Infrastructure Safety Improvements (CRISI) program for its Rail Capacity Modernization Project. The FRA CRISI Project will build four new rail tracks totaling 17,670 track feet and two crane rail beams totaling 7,000 linear feet. It will aid in updating the Seagirt Marine Terminal’s infrastructure and support increased demand for double-stacked trains of containerized cargo to markets across the country. In addition to providing more seamless and efficient rail operations, the CRISI Project will also add environmental benefits such as improving air quality around the Port by increasing rail usage and converting existing diesel-fuel rail yard operations to electrified equipment. It will also help alleviate ongoing logistical bottlenecks on major interstate highways. Read the full story here.

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Maryland Health Benefit Exchange

Yesterday, during the afternoon Sine Die Session, the House of Delegates approved Senate Bill 632. The Senate had approved it on March 31. This action assures that the bill (setting up a Workgroup to design a Small Business/Nonprofit Health Insurance Subsidy program) will go to Governor Hogan’s desk for approval.

MACCE had determined, under 2022 Board Chair Bill Chambers’ leadership, that this legislation was to be our highest overall priority for the 2022 Session. After many years of failing to advance legislation on Association Health Plans, MACCE worked with leaders in the House and Senate, as well as advocates like Maryland Healthcare for All, the NAACP of Maryland, and County Executives from the Big Eight counties, to advance HB709 and SB632. Chairman Chambers (Greater Salisbury), and Vice Chair Rick Weldon (Frederick County) both attended virtual and live Committee hearings and working meetings to advance these bills, in addition to meetings and calls with numerous members of the General Assembly. The Rockville Chamber has been working on this for 3 years and sent in written testimony to support this initiative.

Now, as the bills pass and the formal workgroup is empaneled, MACCE will have a seat at the table to work with others to create the subsidy program, and to empower the Maryland Health Benefits Exchange to document how the subsidies will be approved and paid to the carriers. Small employers (10 and under) and nonprofits will be eligible to buy health insurance for their workers through the Exchange using valuable subsidies to reduce their cost. MAACE looks forward to the implementation of the subsidy program, and to a funding commitment of July 1, 2023, for the new subsidy program.

This is a major win for all the chambers who helped send letters, testified, and made calls to their legislators, and will be a major win for our members once implemented.

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Advertise in the RCC Business Directory

We are happy to announce our continued partnership with Lunar Cow Publishing, a firm specializing in destination marketing, for the production of our annual Business Directory. We are excited about the opportunities this new publication will offer you.

The Rockville Chamber of Commerce Business Directory is our premier promotional piece and the first resource that community and business members use to promote their business. Participation in the Business Directory has great advantages. 2,000 printed copies of this publication will be distributed in the best locations to help drive traffic to our advertisers, and our digital GoGuide® will allow you to reach thousands more. Your advertisement in the digital GoGuide® will be linked to your website, giving readers one-click access to your business. Please click here for the advertisement rates, which detail your options for participation.

If you have any questions or wish to participate as an advertiser in our publication, please contact Lunar Cow Publishing’s advertising sales, at 800.594.9620 (ext. 1) to learn more about how you can take advantage of this great opportunity to promote your business. We are very excited about the new publication and look forward to your participation.

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PEPCO’S Parent Company, Exelon, Moves Forward as Nation’s Premier Transmission and Distribution Utility Company

Contact: Jamie Caswell

Pepco Communications

202-872-2680 (Media Hotline)

FOR IMMEDIATE RELEASE

PEPCO’S PARENT COMPANY, EXELON, MOVES FORWARD AS NATION’S

PREMIER TRANSMISSION AND DISTRIBUTION UTILITY COMPANY

Company launches new branding and reassures customers and communities of commitment to delivering safe, reliable, affordable and clean energy

WASHINGTON, D.C. (February 2, 2022) — Pepco’s parent company, Exelon, today announced completion of its separation from former power generation and competitive energy business, Constellation. Pepco remains part of Exelon, the nation’s premier transmission and distribution company serving more than 10 million customers. As part of this change, Pepco, its parent company and sister utilities – Atlantic City Electric, BGE, ComEd, Delmarva Power, and PECO – have unveiled a new look that reflects their evolution to become more unified and integrated. See the new Pepco logo below:

“We are excited to continue to be part of the Exelon family and remain committed to powering a cleaner and brighter future for our customers and communities,” said Tyler Anthony, president and CEO, Pepco Holdings. “Every day, we work to deliver safe, reliable, affordable, and clean energy, and that will not change. We look forward to continuing to bring our customers the benefits of being part of the nation’s premier transmission and distribution utility company.” Guided by the company’s existing leadership, Pepco will continue its strong focus on serving customers and investing in infrastructure and technologies equitably to enhance safety and improve reliability and resiliency. The company will continue its commitment to a world-class customer experience with new tools and resources, keeping accessibility and affordability at the center. Pepco will continue its leadership and support to advance a cleaner energy future, like the company’s Climate Commitments in the District and Maryland and the Climate Solutions Plan. And, Pepco will continue its steadfast commitment to local communities, building on the record volunteerism of its employees and its continued financial and leadership support of community organizations across the District of Columbia and Maryland.

Since Pepco joined the Exelon family of companies in 2016, customers and communities have seen meaningful economic and service benefits. Here are just a few:

• Infrastructure improvements during the last five years have driven a 30-percent decrease in the frequency of electric outages Pepco customers experienced.

• Pepco purchased $249 million in goods and services, in 2020, from diversity-certified suppliers, which equates to 35 percent of the company’s total yearly purchases. 

• The company provided more than $3.2 million in financial support, in 2021, for nonprofits and community partners across our service area.

Going forward, Pepco customers will see the new, modernized branding, including the new logo, on the company’s website, mobile app, social media channels, advertising and business materials. Pepco may have a new look and feel, but the company’s commitment to providing essential service and support for its customers and communities remains unchanged.

# # #

Pepco is a unit of Exelon (Nasdaq: EXC), a Fortune 200 company and the nation’s largest utility company, serving more than 10 million customers. Pepco provides safe and reliable energy service to approximately 894,000 customers in the District of

Columbia and Maryland

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Lunch & Learn with Jake Weissmann

Jake Weissmann, Assistant Chief Administrative Officer over seeing economic development and business advancement activities for the County joined us for today’s Lunch & Learn that was held at Dawson’s Market.

Businesses came prepared to share their thoughts on better communication (which has been a missing piece), as well as what current issues exist and there was great conversation. View the full video below.

Yaakov “Jake” Weissmann currently serves as Assistant Chief Administrative Officer for Montgomery County after his appointment by County Executive Marc Elrich, and unanimous approval of the Montgomery County Council. His portfolio includes Economic Development, and is the point of contact for a variety of county government and intergovernmental departments including the Departments of Permitting Services, Transportation, Housing & Community Affairs, and Environmental Protection.

Jake has worked in the General Assembly for nearly 14 years, including the last twelve in the Senate President’s office in a variety of roles. Jake has had the honor to work as Chief of Staff for the past three years for Senate President Ferguson and Senate President Miller. During his time as Chief of Staff, Jake was responsible for oversight of the Senate, including policy, communications, and operations, including ensuring the Senate was able to operate smoothly during the COVID-19 pandemic. Jake started his career in the General Assembly as Legislative Aide for Montgomery County Delegate Kirill Reznik.

Jake also served as Executive Director of the Senate Democratic Caucus during the 2014 and 2018 election cycles to ensure that Senate Democrats maintained their supermajority support in the Legislature. Jake’s other campaign experience includes Keiffer Mitchell’s campaign for Baltimore City Mayor and Ben Cardin’s campaign for U.S. Senate in 2006.

Raised in Baltimore, Jake graduated from the University of Maryland, Baltimore County with a bachelor’s degree in social work and psychology, a Master of Social Work from the University of Maryland, Baltimore, and a Juris Doctor with honors from the University of Baltimore. He serves on the Board of the Maryland Student Legislature, and teaches Religious School at Temple Beth Shalom in Arnold, MD. In 2020, he was named a VIP by The Daily Record’s for professionals under 40. Jake currently lives in Crofton with his wife, Sarah, their two sons, Caleb and Ari, and their cat, Pinot.

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