| BALTIMORE, MD Mon, Oct 20, 2008 Governor Martin O’Malley today announced that the State has awarded $85,000 in matching grants to 17 Maryland companies to help them market their products and services in overseas markets. The grants, made through the Maryland Department of Business and Economic Development’s Export MD program, are awarded to small businesses to help offset the cost of international marketing initiatives, including trade show fees, travel expenses, brochures and website development. In Fiscal Year 2008, the Export MD program awarded a record number of grants totaling $105,000 and the demand for the program is continuing to grow.
“In today’s global economy, Maryland companies need to be looking closely at foreign markets,” said Governor O’Malley. “By helping to identify export-friendly markets and minimizing the cost and risk of market entry, this program is a powerful tool for Maryland’s small businesses.”
The grantees for FY 2009’s first and second quarters include: American IV Products, Inc., NMR Consulting and Nina Company (Anne Arundel County); Grand Brands and Three Kings Gifts (Baltimore); BioAssay Works (Frederick County); American Dynamics, Mititech and Promise Enterprises (Howard County); Amarex, Rafagen, Sequella, Temple Allen, Tetracore, Vorcat and ZaraCom Technologies Inc. (Montgomery County); and Transglobal Business Systems (Prince George’s County).
“Export MD is much more than a business grant. It is an opportunity for companies like ZaraCom to expand globally and contribute to our state and local economy,” said Thomas Hsieh, Vice President of North America, Business Development & Operations for ZaraCom Technologies. “We truly appreciate the foresight of Governor O’Malley and the Maryland Department of Business and Economic Development to invest in the future of Maryland by helping to build, nurture and strengthen companies like ours.”
“We will use this grant to increase the BioAssay Works international exposure for our growing point-of-care, rapid assay diagnostics market,” said Stephen Mefferd, Vice President of Business Development, BioAssay Works, L.L.C. “We recognize that any company working for sales growth must carefully market products and services to our international prospects - this grant gives us the support to expand that most important market endeavor.”
“American IV Products, Inc. is honored to have been chosen as a recipient of an Export MD grant,” said Jim Huggins, Director of Business Development for the Harmans-based company. “The grant will allow us to expand our distribution of medical devices in the European Union.”
Established in 1999, the Export MD program provides matching grants on a quarterly basis that are capped at $5,000. Companies may also take advantage of up to 80 hours of marketing consulting from DBED’s Division of International Trade and Investment. Applications for the third quarter of fiscal year 2009 Export MD grants must be submitted by January 1, 2009. To obtain information or eligibility requirements for Export MD, visit www.choosemaryland.org
Through its main office in Baltimore and six offices around the globe, the Maryland Department of Business and Economic Development’s Office of International Trade and Investment works to stimulate foreign direct investment in Maryland, offers export assistance for small and mid-sized Maryland companies and coordinates international trade and investment missions and trade show opportunities for Maryland companies. DBED’s foreign offices include China (Shanghai), Singapore, South Korea, Taiwan, Israel and Europe (Paris).
In 2007, Maryland exports climbed to a record high of $8.9 billion, an almost 18 percent increase over $7.6 billion in 2006. The state exported globally to more than 200 foreign countries, with Canada continuing to be the top destination for Maryland goods, receiving $1.4 billion in exports, while exports to the European countries in the top 10 (United Kingdom, Germany, The Netherlands and Belgium) totaled more than $1.6 billion.
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