Three Bethesda Developments on List of Region’s Most Expensive Projects

Three ongoing development projects in Bethesda are among the most expensive projects in the Washington region, according to a list compiled by the Washington Business Journal. The projects — the future Marriott International headquarters, Avocet Tower and an expansion at Suburban Hospital — total more than $1.7 billion in development in Bethesda. The Washington Business Journal (WBJ) list was led by a $1.4 billion project in Reston, Va., to construct an eight-story, 840,000-square-foot mixed-use building. The future Marriott International headquarters in Bethesda is estimated to cost $600 million and checks in at No. 7 on the 25-project list. The 22-story building encompasses more than 700,000 square feet and will include office space, as well as a 230-room hotel. (Bethesda)     

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BDC CEO: 'We need to move forward' on Convention Center expansion

A top Baltimore official says it's time to act on plans to expand the outdated Baltimore Convention Center. "We need to move forward," Baltimore Development Corp. CEO Colin Tarbertsaid Thursday at a meeting of the quasi-public agency, which focuses on economic development. The Convention Center, which offers 300,000 square feet of exhibition space, has strained to host some events because of its size. Sometimes, Tarbert said, the city has had to shut down part of Sharp Street so that vendors can set up there because there's no more room inside the facility. (Balt. Bus. Journal)

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Harborplace tour shows its neglect, disrepair, top city official says

The new head of the Baltimore Development Corp. said he saw broken doors, burned-out lights and old and damaged signage when he took a recent tour of Harborplace with the property's court-appointed receiver. Colin Tarbert, CEO of the BDC, said the disrepair at the 39-year-old downtown landmark at Pratt and Light streets underscored the work needed to be done to restore Harborplace as a destination — points he discussed with the receiver, New Jersey-based IVL Group. "It was an icon of Baltimore's renaissance and now I don't think it does that," Tarbert told the BDC's board of directors at its monthly meeting. (Balt. Sun)

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Business Leaders Launch ‘Grass-roots’ Group to Back Hogan Road Plan

A Citizens for Traffic Relief informational booth at the Montgomery County Agricultural Fair. Facebook photo A Maryland businessman long active in transportation issues has launched an effort to build support for the Hogan administration’s plan to ease road congestion in the Washington, D.C., suburbs. Emmet Tydings, CEO of a Columbia telecommunications firm and member of a politically active family whose roots in the state date back hundreds of years, is the cofounder and chairman of a group calling itself Citizens4TrafficRelief. (Md. Matters)

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NorthPoint to generate 1,480 jobs, $132M in investment on Wesel Boulevard

About 190 acres of heavily wooded land along Wesel Boulevard is slated to become a sprawling business center that will generate close to 1,500 jobs and include 2.2 million square feet of space, officials said Wednesday afternoon at a Hagerstown Planning Commission meeting. The facility being planned by Missouri-based NorthPoint Development will include four facilities for warehousing and distribution, and require $132.9 million in investment, according to plans. It will have close to 1,700 parking spaces. The planning commission unanimously approved a preliminary plan for the development, which now will undergo a more detailed site-plan review. (Herald-Mail) 

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Over 1.5M Trips Taken On Dockless Scooters In Baltimore Since Launch 1 Year Ago

Wednesday marks one year since dockless vehicles were introduced to Baltimore City- including the electric scooters you see zipping around downtown. The Baltimore Department of Transportation said the first year has been a success, with over 1.5 million trips taken so far. The City decided to end the pilot program to make them a more permanent fixture in the city. “They’re great, they’re fast and affordable,” One rider said. “I think it’s very convenient, very easy to use,” Another added. They can be used to commute to work and to see the city. (WJZ-TV)

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Maryland boosts presence on Inc. 5000, while one N. Va. company surges near the top

Suburban Maryland bumped up its representation among the top third of this year's Inc. 5000 fastest-growing companies, while a Vienna tech company broke into the top 15 of the coveted national ranking. Of the region's 310 total companies in the Inc. 5000, 52 made it into the top 500, continuing the region's rise from 46 last year, 35 in 2017 and 36 in 2016. Of the 52 top-rankers this year, 15 hail from suburban Maryland, four are from D.C. and a whopping 33 are based in Northern Virginia. Suburban Maryland's representation — 14 from Montgomery County and one from Prince George's County — includes 10 companies that made the list for the first time. That's up from a total nine companies on the list from those two counties in 2018. Last year, D.C. counted seven companies in the top 500. (Wash. Bus. Journal)

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Stocks losses deepen as a key recession warning surfaces

The global economy has begun to shudder. On Wednesday, the U.S. stock market tumbled after a reliable predictor of looming recessions flashed for the first time since the 2008 financial crisis. The Dow Jones industrial average fell around 800 points, or 3 percent, and has lost close to 7 percent in the past three weeks. Two of the world’s largest economies, Germany and the United Kingdom, appear to be contracting. Argentina’s stock market fell nearly 50 percent in recent days, and growth in China has slowed.  Whether the events presage an economic calamity or just an alarming spasm are unclear. But unlike during the Great Recession, global leaders are not working in unison to confront mounting problems and arrest the slowdown. (Wash. Post)

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