Archives For Martin O’Malley

Governor forms Maryland/Israel development partnership

Emily Kimball —  April 29, 2013

Governor Martin O’Malley is working toward increased collaboration between Maryland and Israeli companies. During his eight-day trade mission to Israel and Jordan, he launched the Maryland/Israel Development Partnership to fund joint development efforts in the cybersecurity and life sciences sectors, the Maryland Department of Business & Economic Development announced Sunday.

“Innovation is not a solo act. History has shown that we can speed our path to discovery through collaboration and partnership,” O’Malley said in a statement. “I am pleased to announce the creation of the Maryland/Israel Development Partnership and look forward to what we will achieve when we bring together the bright minds and talented entrepreneurs in Maryland and Israel to tackle the great challenges facing our planet.”

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Plasmonix, Bambeco land InvestMaryland funds

Nick Sohr —  December 13, 2012

By Nick Sohr, Managing Editor, MDBIZNews

Plasmonix and Bambeco have received the latest investments through InvestMaryland, the Department of Business and Economic Development announced Thursday.

The state made equity investments of $100,000 in Plasmonix and $200,000 in Bambeco, which also received $400,000 through InvestMaryland last month.

“Companies like Plasmonix and Bambeco continue to shape the future of Maryland’s economy by growing the jobs of tomorrow,” Gov. Martin O’Malley said. “These are the first of what will be dozens of investments over the coming months thanks to InvestMaryland’s significant impact on our State’s innovative companies.”

InvestMaryland is the largest venture capital investment initiative in Maryland’s history. In March, the State raised $84 million for the program through an online auction of tax credits to Maryland insurance companies.

Two-thirds of the InvestMaryland funds will be managed by carefully screened private venture firms, who will invest the funds with a commitment to return, if successful, 100% of the principal and 80% of the profits to the State’s general fund. Grotech Ventures was tapped last week as the first InvestMaryland partner and received $12 million to invest on behalf of the state. The remaining third will be invested by the state-run Maryland Venture Fund.

So far, the state has made eight investments through InvestMaryland. DBED has also launched the InvestMaryland Challenge, a business competition that will award three $100,000 top prizes and about $150,000 worth of in-kind business services to other entries.

Applications for the competition are due today (Thursday 12/13) by 11:59 p.m. EST.

“The speed with which the InvestMaryland funds are being disbursed and the strength of the companies in which we are investing show how critical this program is to the State’s entrepreneurs and start-up community,” DBED Secretary Christian Johansson said. “Investments from programs like InvestMaryland and its partners in the private sector can propel entrepreneurs from innovation to commercialization to company formation to job creation.”

Plasmonix, is a biotechnology company specializing in metal-enhanced fluorescence, which is used in cell detection for medical research and clinical diagnostics. The technology has potential applications across the life science, as well as in cosmetics, apparel, paints and lighting.

“Plasmonix is grateful for the continued support from the Maryland Venture Fund and the Department of Business and Economic Development,” said William Gust, president and CEO of Plasmonix. “These funds are critically important to the ongoing development and commercialization of Plasmonix’s technology and we would not be where we are today without this support. We hope to repay the confidence demonstrated in Plasmonix by adding jobs and growing the company here in Maryland.”

An online retailer of sustainable products, Bambeco’s catalog includes solar-powered tea lanterns, recycled scrap steel trash bins, bicycle chain bottle openers and briefcases made from recycled truck tires with seatbelt shoulder straps. The company has 24 employees and expects to double its staff in the next two years.

“We are honored to be a recipient of venture capital funding through InvestMaryland,” said Susan Aplin, Bambeco president and CEO. “Forty percent of annual retail sales in the United States occur during fourth quarter. These funds allow Bambeco to secure the necessary inventory for our planned holiday sales. We are thankful for the additional investment from InvestMaryland and thank Maryland Venture Fund, the Department of Business and Economic Development, and Governor O’Malley for their continued support as we work to create jobs and help grow Maryland’s economy.”

HBO’s ‘Veep’ returns to Maryland for season 2

Nick Sohr —  December 12, 2012

By Nick Sohr, Managing Editor, MDBIZNews

HBO is back in Maryland and filming the second season of the award-winning series “Veep.”

The series, set in Washington D.C. stars Julia Louis-Dreyfus as Selina Meyer, a former senator turned hapless vice president. Louis-Dreyfus took home an Emmy earlier this year for her work on the first season of the show. The series was also nominated for an Emmy for Outstanding Comedy Series, as well as Outstanding Casting for a Comedy Series.

“We are very pleased that HBO and the Veep cast and crew have returned to Maryland for what we are confident will be another very successful production experience,” said Gov. Martin O’Malley. “The State and HBO have had a successful partnership over the years, and we look forward to more seasons of filming Veep in Maryland.”

HBO also filmed the acclaimed drama series “The Wire” in and around Baltimore and, more recently, shot part of “Game Change” in the city.

Maryland’s Film Production Employment Act of 2011, which offers tax credits to offset the cost of production, helped to secure the Veep production.

The Maryland Film Office estimates the second season of Veep could have an economic impact in excess of $40 million. The first season of Veep resulted in the hiring of 978 Maryland crew, actors and extras, and the production company purchased or rented goods or services from 1,141 Maryland vendors.

The tax credit has also helped the state land “House of Cards,” the Netflix series headlined by Kevin Spacey; “Ping Pong Summer” starring Susan Sarandon; and “Better Living Through Chemistry” starring Olivia Wilde.

Grotech Ventures to deploy $12 million for InvestMaryland

Nick Sohr —  December 5, 2012

By Nick Sohr, Managing Editor, MDBIZNews

Grotech Ventures, a local venture capital firm, will invest $12 million on behalf of the state through the InvestMaryland program, the state announced Thursday.

Grotech is the first venture partner for InvestMaryland.

The Maryland Venture Fund Authority, which oversees InvestMaryland, tapped Grotech “because of its long history investing in early stage technology companies in Maryland and overall solid record of investment,” said authority Chairman Peter Greenleaf, who is also president of Gaithersburg-based MedImmune.

InvestMaryland, created in 2011 raised $84 million in March to invest in promising young Maryland companies in life sciences, cyber security, information technology, green energy and other targeted industries.

Private venture firms will invest two-thirds of that money, returning all of the principal and 80 percent of the profits on successful investments. The state will invest the rest.

Grotech’s $12 million is a little more than 20 percent of the $56 million that will eventually be disbursed to private venture firms.

“Through partners like Grotech and other venture firms that will invest these funds in the jobs of tomorrow, we continue to prove that Maryland remains on the cutting edge of innovation, and that our greatest assets are the talents, skills, creativity, ingenuity, and education of our people,” Gov. Martin O’Malley said.

Grotech was founded in 1984 and has operations in Maryland and Virginia. Its investment portfolio includes technology companies such as Advertising.com, Living Social, MicroProse, Zenoss and CDNow.

“Our goal with InvestMaryland is to plant the seeds for the next generation of innovative companies – the next Google, the next Microsoft – right here in Maryland,” said Christian Johansson, secretary of the Department of Business and Economic Development.

InvestMaryland builds on the success of the Maryland Venture Fund, which will receive most of the state’s share of the $84 million. The fund was seeded with $25 million 17 years ago and has made more than 100 investments, generating returns of more than $67 million, creating 2,000 jobs and spurring more than $1 billion follow-on private investment.

So far, four companies have received investments through InvestMaryland. Brainscope, of Bethesda, received $250,000 and Rockville-based Maxtena, $560,000. Two Baltimore companies, Bambeco and PathSensors, received $400,000 and $200,000, respectively.

InvestMaryland funds will also be awarded through the InvestMaryland Challege, a $425,000 business competition open to Maryland companies and others willing to move to the state. Through Tuesday, the Challenge had 156 applicants.

The state will give away three $100,000 prizes, one each in life sciences, IT and a general, open category. Entrants can also win $125,000 in in-kind business services.

Grotech Ventures was unable to comment due to legal restrictions on public statements during their fundraising period.

Commission on Small Business completes initial outreach campaign

Nick Sohr —  November 30, 2012

By Nick Sohr, Managing Editor, MDBIZNews

The Governor’s Commission on Small Business has wrapped up the first round of its listening tour across the state after making stops in Southern Maryland and Frederick and on the Eastern Shore. Now the panel is planning its next stops as it crafts a series of recommendations to assist small businesses.

“The people that I’ve talked to, basically they’re optimistic that things are going to be better for the small business community,” said Ackneil Muldrow II, chairman of the commission and president and CEO of Parker Muldrow & Associates. “But, the economy is impacting them in many ways. There’s discussion on how much they have to pay for unemployment [insurance], government regulation. One of the critical things is access to capital they need that in order to enter into any sort of expansion or growth mode.”

Maryland has, in recent years, renewed its efforts to nurture and support homegrown small businesses, recognizing that entrepreneurship and innovation fuel the state’s economy. Small businesses make up nearly 98 percent of the employers in Maryland and account for more than half of the state’s jobs.

In January 2011, Gov. Martin O’Malley launched “Maryland Made Easy” to streamline regulations, simplify and digitize permitting processes, improve inter-agency communication and take other steps to improve the state’s oversight of businesses. In March 2012, the governor identified 131 obsolete or overly burdensome regulations for repeal. The state will soon move the Central Business Licensing system online, with the system going live in the first week of December.

Maryland also led the push for the Obama administration’s State Small Business Credit Initiative, a program that awarded this state $23 million for small business financing programs. The General Assembly and the governor created the Maryland Innovation Initiative to fund the commercialization of promising technologies developed at public and private universities, and the InvestMaryland program that in March raised $84 million to make venture capital investments in promising, young Maryland companies.

The state also got good news in October. Improvements in the job market have lessened the strain on the unemployment insurance system, meaning businesses will see cuts — many upward of 55 percent — in their unemployment taxes next year.

“Muldrow said he, Co-Chair Karen Barbour and their fellow commissioners will be exploring more ways to assuage business owners’ chief concern – a tough lending environment that has made capital hard to come by.”

“Many want to expand but they don’t have the capital because many of the financial institutions are not lending to small businesses,” he said. “They’ve tightened their standards to a point where there’s no latitude to take on many small businesses.”

The commission will also look for ways to improve workforce development programs and help small firms win more state contracts, Muldrow said.

“We’re talking about what creative ways government and the private sector can come together to provide resources to small businesses because that’s the engine we have,” he said.

Despite the economic headwinds, Muldrow remains optimistic about the state’s small businesses.

“I think, optimistically, we’re not going to get back where we were pre-recession days, but we’ll get back somewhere reasonably close to that,” he said. “We’ve got to look at life a little differently. How can we be creative as a people? How can we pool resources? We also have to attract people from other countries to buy our products. We have to do more marketing beyond our borders. I am optimistic, but we’ve got to work for it. People will do that. Pressure is going to push them in that direction.”

Protenergy grows; solar plans in HoCo; thoroughbred deal close

Nick Sohr —  November 27, 2012

By Nick Sohr, Managing Editor, MDBIZNews

Protenergy Natural Foods, of Ontario, will expand its U.S. headquarters on Maryland’s Eastern Shore. The move will add 100 full-time jobs by April and another 27 over the next five years.

Protenergy now employs 53 at its Cambridge facility, where it makes its soups, broths and sauces. The company is purchasing the 67-acre site and 200,000-square-foot building that it now leases as part of the $20.3 million expansion project.

“We are extremely pleased to be acquiring the facility in Cambridge,” said John Black, Protenergy’s CFO. “During the past year, we have invested significantly in the plant and recently completed the commissioning of two additional production lines. These new lines significantly increase our capabilities and capacity to meet growing customer demand for our products.”

The Maryland Department of Business and Economic Development provided a $3.6 million loan guarantee and a $250,000 conditional loan to assist with the project.

“It is exciting to see a forward-thinking company like Protenergy creating high-quality jobs on the Eastern Shore,” said Gov. Martin O’Malley. “Protenergy’s decision to further invest in our State reflects our strong support for growing our manufacturing industry and our commitment to working with our county partners to grow and retain jobs.”

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Bith Energy, of Baltimore, has proposed a 50- to 60-acre solar farm on Nixon’s Farm in West Friendship, Howard County, according to The Sun.

The project needs a change to county zoning regulations to get off the ground. The amended rule is set for a council vote Dec. 3.

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Montgomery County is considering making investments in companies in the county, according to The Washington Examiner.

A bill before the county council would allow the county to take up to 25 percent ownership. The legislation would add equity investments to the economic development arsenal stocked now with forgivable loans tied to job creation requirements.

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Maryland’s horse and race track owners are nearing a deal that would bring much-needed stability to the state’s thoroughbred industry, according to the Sun.

The agreement between the Maryland Jockey Club — owner of Laurel Park and Pimlico — and the Maryland Thoroughbred Horsemen’s Association would guarantee racing days for the next decade. In recent years, as Novembers passed and Decembers crept by, the two sides struggled to reach deals on the racing days, threatening the Preakness, the middle jewel of the Triple Crown, as well as the sport’s very existence in the state.

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Home prices rose in most major cities in September, according to an AP story in The Daily Record.

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Thrasher’s, that staple of the Ocean City boardwalk, is getting some national love, according to The Daily Times.

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The new owner of the Westin in Annapolis has big plans for the hotel, including more meeting space and other renovations, The Capital reports.

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And, just because I think it’s a cool story, the Pentagon is using a virtual “town” to prepare its hackers for cyber warfare, according to The Washington Post.

CyberCity has a hospital, a power plant, a rail road and, yes, even a rocket launcher. (Check the graphic.) The 15,000 “residents” of CyberCity will use the coffee shop wi-fi and have bank account passwords, email accounts and pages on the town’s faux-social network, FaceSpace.

Gov. O’Malley delays trade mission to Israel

Nick Sohr —  November 20, 2012

Gov. Martin O’Malley announced Tuesday morning he will postpone the state’s planned trade mission to Israel so as to not distract from the “urgent cause of peace” in the region. The governor, business leaders, academics and government officials were scheduled to leave for the eight-day trip just after Thanksgiving.

President Obama on Tuesday dispatched Secretary of State Hillary Rodham Clinton to the Middle East to hold talks with Israeli and Palestinian leaders.

“After many days of monitoring the situation in the Middle East, I’ve decided to reschedule Maryland’s Economic Development Mission to Israel,” O’Malley said in a statement.

“Not wanting to be a distraction from the urgent cause of peace, I look forward to visiting Israel in the months ahead with Maryland business, research and academic leaders.”

“For now, we join with our Israeli and Palestinian neighbors in praying for a cease-fire and peaceful resolution to the conflict.”

The trip to Israel would have been O’Malley’s third trade mission in the last 18 months. He took a delegation to China, South Korea and Vietnam in the spring of 2011 and made a post-Thanksgiving trip to India later that year. Those missions landed nearly $85 million and $60 million in business deals for Maryland companies.

O’Malley also led a trade mission to Israel in 2008.

InvestMaryland invests $1.1 million in 3 companies

Nick Sohr —  November 13, 2012

By Nick Sohr, Managing Editor, MDBIZNews

The Department of Business and Economic Development has invested $1.1 million in three more Maryland companies through the InvestMaryland program, DBED Secretary Christian Johansson announced Tuesday at TEDCO’s Maryland Entrepreneur Expo.

“InvestMaryland plays a critical role in taking an idea from innovation to commercialization to company formation to job creation,” Johansson said. “Our investments through this program will attract significant follow-on capital from the private sector, create well-paying jobs and support a wide range of companies in biotechnology, cyber security, green energy and other targeted industries.”

Maxtena, of Rockville, received a $560,000 investment. South Baltimore’s Bambeco got $400,000 and PathSensors, located in the University of Maryland BioPark in West Baltimore, got $200,000.

These commitments follow InvestMaryland’s first-ever outlay, a $250,000 investment in Bethesda-based Brainscope in September.

“When we make strategic investments in cutting-edge companies like Maxtena, PathSensors and Bambeco, we are strengthening Maryland’s leadership in the Innovation Economy,” Gov. Martin O’Malley said. “With a total of $84 million to invest in the State’s best and brightest start-ups, we are stimulating our economy and creating jobs not just for today, but for generations to come.”

InvestMaryland was the governor’s top economic proposal during the General Assembly’s regular session in 2011. It set aside $100 million in insurance premium tax credits to be auctioned off to raise money to make venture capital investments in young, high-tech Maryland companies. DBED’s first-of-its-kind online tax credit auction in March raised $84 million, $14 million more than expected.

Two-thirds of the $84 million will be managed by private venture capital firms on behalf of the state and the rest will flow into state financing programs, including the Maryland Venture Fund, which made the three investments announced Tuesday. Last month, a 2005/2006 MVF investment in Fidelis Security, a cyber security company, returned $2.2 million to the fund.

Today’s Announced Investments

Founded in 2006, Maxtena has become a global leader in the development and production of miniature antennas for satellite phones, military radios, handled navigation devices, GPS trackers and other wireless devices. The MVF led a Series A preferred stock investment round in Maxtena.

“This funding award will support our growth in the areas of advanced antenna and wireless communications and will allow us to continue developing novel technologies that we hope will drive the new internet infrastructure with smaller and higher efficiency devices,” said Stanislav Licul, Ph.D., president and CEO of Maxtena.

PathSensors has developed a pair of products that detect biological threat agents in food and the air. BioFlash-E and BioFlash-AF rapidly identify pathogens in near real-time. The Maryland Venture Fund invested $100,000 in the company in 2010.

“PathSensor’s CANARY technology is providing rapid pathogen testing that ensures a safe and reliable supply of food products for the world’s growing population,” said Ted Olsen, CEO of PathSensors. “These funds will support the development of new products for the food processing industry.”

Bambeco CEO Susan Aplin shows off one of her favorite products, solar-powered Aurora Glow String Lights.

Bambeco is an online retailer specializing in eco-friendly home décor. The company is expanding, taking over more office and warehouse space as it adds to its staff of 24 employees. Bambeco’s products have been featured by USA Today, Every Day with Rachael Ray, People Magazine, The Today Show and the Emmy-winning sitcom Modern Family. The MVF invested a total of $300,000 in Bambeco during two earlier fundraising rounds.

“As a result of the investment, Bambeco is moving into a new 22,000- square-foot facility this month. We’re hiring people now and plan to double the size of our staff in the next 12 months,” said Susan Aplin, CEO of Bambeco. “The continued state support through the Maryland Venture Fund and InvestMaryland has been essential to our growth.”

New tech transfer programs; Going for the Gold Cup and more

Nick Sohr —  October 22, 2012

By Nick Sohr, Managing Editor, MDBIZNews

The Maryland Innovation Initiative, passed in the spring by the General Assembly, launched two programs Monday to support and speed the commercialization of technologies developed at five universities in the state.

The Innovation Discovery Program funds “site miners” at the institutions — University of Maryland, College Park; University of Maryland, Baltimore; University of Maryland, Baltimore County, Morgan State University and Johns Hopkins University. The tech transfer experts will identify promising discoveries with commercial potential and forge partnerships across departments, schools and universities to maximize that potential.

The Innovation Commercialization Program supports the commercialization of research at the pre-commercial, commercial planning and early stage product development stages. Projects are eligible for $215,000 at a single university and $270,000 if they bring in more than one university.

Applications are available here.

The Innovation Initiative, one of Gov. Martin O’Malley’s top economic proposals in the most recent regular session of the legislature, builds on the state’s effort to capitalize on the wealth of research and development activity in Maryland. The InvestMaryland program, passed in 2010, raised $84 million that will be invested as venture capital in promising, high-tech Maryland startups.

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Southwest Airlines, the dominant carrier at Baltimore/Washington International Thurgood Marshall Airport, is adding up to four new daily flights to its schedule at BWI starting in April.

AirTran Airways, which is owned by Southwest, will fly one daily flight to Punta Cana, Domincan Republic. And Southwest will fly three daily flights to Flint, Mich.

Southwest is also taking over some AirTran flights, according to the Baltimore Business Journal.

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The Sun has a list of Maryland companies that received venture funding in the third quarter.

The big winner was Tenable Network Security Inc., of Columbia, which landed $50 million from Accel Partners. Zenoss Inc., the software company in Annapolis, received nearly $25 million total from several investors.

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Now to the really important news (for soccer fans) — Baltimore has submitted a bid to host Gold Cup matches in 2013, according to the BBJ. The games would be played at M&T Bank Stadium.

The Gold Cup, held every odd-numbered year, is an international tournament of 12 teams to crown the champion of the Confederation of North, Central American and Caribbean Association Football. (That’s CONCACAF for short.)

Next year’s cup will offer teams headed to the World Cup (Brazil, 2014) the chance to tune up their games and, perhaps more importantly, give the U.S. a chance to erase the still-bitter memory of the 4-2 loss to Mexico in last year’s final. (The U.S. took an early 2-0 lead and gave up four unanswered to El Tri. Wasn’t pretty.)

So, cross your fingers, practice your “Tim-my How-ard” chants and appreciate the maturation of Michael Bradley in the midfield.

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The Daily Record has an AP story about a draft executive order that would require intelligence agencies to share information about cybersecurity threats with companies that operate critical  infrastructure, such as railroads and power plants.

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Two college savings plans run by T. Rowe Price were ranked among the best in the country, according to a story in The Sun.

T. Rowe has been on the Morningstar list all but one year since 2004, when the list was first compiled.

Maryland added 9,800 jobs in Sept., jobless rate drops

Nick Sohr —  October 19, 2012

By Nick Sohr, Managing Editor, MDBIZNews

Maryland added 9,800 jobs in September and the unemployment rate dropped to 6.9 percent, according to figures released Friday by the state Department of Labor, Licensing and Regulation.

The private sector accounted for the lion’s share of the jobs added in September — 9,600, or an increase of 0.5 percent, according to seasonally adjusted figures.

“Last month, Marylanders created 9,800 new jobs – the single greatest month of job creation in 29 months and the result of a thriving private sector that created 98 percent of all new jobs in September,” said Gov. Martin O’Malley in a written statement. “Together, we’ve driven our unemployment rate down to 6.9 percent, which remains 12 percent below the national average. This past year, we’ve created 25,500 new jobs and to date, Maryland has recovered over three-quarters of the jobs we’ve lost during the Bush recession.

The professional and business services sector added 4,100 jobs last month and logistics — trade, transportation, warehousing and utilities — added another 2,000. The education, health care and social assistance sector added 1,600 jobs and construction, 1,300.

September’s increase of 9,800 jobs was the largest gain for the ninth month of the year since 2003, according to DLLR.

Maryland’s labor department also revisited preliminary jobs figures for August. The increase of 1,400 jobs that month was revised upward to a gain of 2,600. The unemployment rate was 7.1 percent in August.

“Maryland continues to make progress toward recovery. We’ve created 25,500 jobs in the last year and 2,200 fewer Marylanders have filed new unemployment insurance claims,” said Maryland Labor Secretary Leonard Howie.

The state’s private sector has been responsible for almost all of that growth. Government employment grew by only 1,400 during that time.

In the last year, employment in professional and business services has increased 4.7 percent (18,600 jobs), education and health care employment has risen 1.4 percent (5,900 jobs) and leisure and hospitality grew 0.7 percent (1,700 jobs). Other sectors posted smaller losses or shed jobs.

Gov. O’Malley touts Maryland’s economic strengths

Nick Sohr —  October 18, 2012

By Nick Sohr, Managing Editor, MDBIZNews

Gov. Martin O’Malley pitched Maryland’s economic strengths to businesses this week, highlighting the state’s top-ranked public education system, affordable colleges and universities and vibrant culture of entrepreneurship, research and discovery. Compared to Virginia, Maryland has seen faster job growth in recent years, bounced back more quickly following the recession, developed a higher concentration of green jobs and maintained a lower tax burden as a share of residents’ income, O’Malley said. Maryland is ranked No. 1 in entrepreneurship and innovation by the U.S. Chamber of Commerce; has had the best public schools four years in a row, according to Education Week; and has the highest median income in the country, according to the U.S. Census Bureau.

(View the graphs, charts and stats referenced in the video here.)

Officials highlight Maryland’s cybersecurity strengths

Nick Sohr —  October 16, 2012

By Nick Sohr, Managing Editor, MDBIZNews

President Obama’s cybersecurity czar touted on Tuesday the strength, flexibility and innovative potential of the “partnership between government and industry to enhance and secure America’s cyberspace.”

“Cybersecurity and critical infrastructure protection are challenges that we face together,” White House cybersecurity adviser Michael Daniel said at the opening of the CyberMaryland 2012 conference in Baltimore. “Over $8 trillion a year is exchanged over wired and wireless networks, and it’s growing. So that means if you shut down the internet, you effectively shut down the economy.”

Cybersecurity has gained international attention as hackers have successfully breached and disrupted corporate and government operations around the world. In August, a virus called Shamoon infected Saudi Aramco, the Saudi Arabian state oil company and the largest oil producer in the world. The virus took down the company’s network for 10 days and damaged 30,000 computers.

In the wake of the attack, U.S. Secretary of Defense Leon Panetta warned that the “collective result of these kind of attacks could be a cyber Pearl Harbor.”

On Tuesday, Daniel said hackers are increasingly targeting critical infrastructure, such as banks and public utilities, in addition to intelligence and defense networks.

“The threats will persist and will continue to become more advanced,” he said.

Said Lt. Gen Kenneth A Minihan, former director of the National Security Agency and Defense Intelligence Agency: “The threat changes at a velocity unknown to man.”

Maryland, home to NSA, the National Institute of Standards and Technology and the U.S. Cyber Command and legions of high-tech firms working in cyber security, has played a critical role in the public-private development of U.S. cyber defenses, the general said.

Daniel agreed.

“Maryland really does serve as an epicenter for information security and innovation,” he said.

Daniel said the public-private approach allows both sides to leverage the expertise and experiences of the other and move quickly than the government would alone.

“Traditional government regulation and lawmaking don’t move at internet speed,” he said. “A purely government prescription is a prescription for failure. Our multi-stakeholder approach is modeled on the institutions that built the internet itself.”

The state launched CyberMaryland in 2010 to cement the state’s status as a leader in cybersecurity. The National Cybersecurity Center of Excellence, a partnership of the state, Montgomery County and NIST, was founded in February to speed development of cybersecurity solutions and enhance collaboration among the government, private sector and academia.

“We are at the center of science and security,” said Gov. Martin O’Malley. “There are so many jobs that need to be created, that need to be filled in cybersecurity.”

U.S. Sen. Barbara Mikulski, one of the most outspoken proponents of Maryland’s cybersecurity community, referred to the state as “Fort Cyber.”

Too many people view cyber as a problem of the future rather than one of the present, she said.

“We are at war in cyberspace. We are at war and we can’t forget it,” Mikulski said. “The battlefield is real. And the battleships are being built right here in Maryland.”