Foreclosure rate falls 50.1 percent year-over-year

Prince George’s County’s foreclosure rate last month fell 50.1 percent from January 2011 and 18.3 percent from December, according to new data from RealtyTrac of Irvine, Calif.

However, with one filing per 932 households in January, the county still had the state’s highest rate.

With one filing per 1,900 households, Maryland had the 38th-highest rate in the nation in January. The U.S. rate was one filing per 624 households. Maryland’s home foreclosure rate last month climbed 8.4 percent from December, but was down 19.6 percent from January 2011.

UM executive now in charge of corporate relations

Brian Darmody, associate vice president for research and development at the University of Maryland, College Park, has added a new title: university director of corporate relations, a new position at the school. In his new role, Darmody will help coordinate corporate outreach and develop additional corporate partnerships in support of the university's goal of $1 billion in donations, according to a university statement.

Darmody is expected to spend up to half his time in the new role through the next year, although he will remain based in the division of research. He also is special assistant vice chancellor for technology development at the University System of Maryland and a member of the Maryland Venture Authority Board.

Guernsey Office Products signs Beltsville lease

Guernsey Office Products has signed a lease for 10,344 square feet of space at 1200 Indian Creek Court in Beltsville, according to Cassidy Turley, which brokered the deal.

Guernsey services more than 8,000 office supply accounts along the Interstate 95 corridor from New Jersey to Virginia. The building is owned by First Potomac Realty Trust of Bethesda.

Bowie firm selected for insurance data services

Independence Blue Cross, a southeastern Pennsylvania health insurer, has selected MedAssurant, a Bowie provider of health care data services, to identify and address potential gaps in care and strengthen care coordination for Independence’s Medicare Advantage subscribers.

WellCare Health Plans of Tampa, Fla., which provides government-sponsored health insurance programs, also selected MedAssurant, according to company information.

Tedco seeks to match entrepreneurs with startups

The Maryland Technology Development Corp. in Columbia is launching a new program to team up entrepreneurs with startups looking for a mentor or an experienced manager.

The Maryland Entrepreneurs Resource List will be a “one-stop shop” for entrepreneurs who want to join a startup or provide advice and guidance on a pro bono basis, and for startups seeking such a partnership, according to a Tedco statement. The list includes entrepreneurs in biotechnology, chemistry, medical devices, network and wireless solutions, physics, engineering and software, and the agency is seeking more names.

“Maryland is fortunate to have a rich network of entrepreneurs spanning various disciplines and industries, and now these individuals have an invaluable resource when looking for guidance, direction and opportunity,” Robert Rosenbaum, president and executive director of Tedco, said in the statement.

Information: marylandtedco.com or Linda Saffer, entrepreneur@marylandtedco.org or 410-715-4175.

Study: Spending corporate cash would boost economy

U.S. corporations are sitting on about $508 billion in cash reserves — less than the $2 trillion figured often cited in the media — but that capital still could create 2.4 million jobs during the next three years, according to a new study by economist Jeffrey Werling, executive director of the Inforum Research Center at the University of Maryland, College Park.

That pile of cash is “more than three percent of gross domestic product,” Werling said in a statement. “Spending even a fraction of these cash reserves on capital investment could substantially boost economic growth and employment.”

Corporate spending of all the cash would boost the nation’s gross domestic product 1 percent this year, 1.5 percent next year and 1.6 percent in 2014, he said. It also would reduce the unemployment rate by 1.5 percentage points.

The study was commissioned by the U.N.’s International Labour Organization as part of its Global Employment Trends 2012. The group asked Inforum to project how increased corporate investment could help accelerate the U.S. recovery.

“It's not surprising that U.S. industry would be tight-fisted given the highly uncertain economic environment, but the consequence is a low level of total investment, economic growth and job creation,” Werling said. “Now, as government fiscal austerity hampers U.S. economic growth, new private spending becomes essential to close the employment gap. Investment in new plant and equipment could help pick up the slack from reduced government expenditure, boosting payrolls and providing a much-needed jolt to economic activity.”

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