Newswatch: Accuvant moving, plans 180 new jobs -- Gazette.Net


Accuvant moving, plans 180 new jobs

Accuvant, an information security company in Denver, is expected to add 180 jobs in the next two years as it expands operations and relocates its Maryland office from Hanover to the Dorsey community in Howard County.

The company will move its 70 employees from Hanover in the second quarter, according to a statement Thursday from Accuvant, Howard County and the Maryland Department of Business and Economic Development.

“Maryland is the epicenter for cybersecurity, and Howard County is an ideal location for companies that need to be close to the defense industry, Washington, D.C., and the intelligence cluster around Fort Meade,” DBED Secretary Dominick E. Murray said in the statement.

Accuvant’s new location will be the headquarters for its federally focused cybersecurity business unit, Accuvant Federal Solutions. It also will be home to the company’s new state-of-the-art security operations center.

“Accuvant has experienced significant growth over the past several years, and it is time for us to take our Maryland-based operations to the next level,” Ed Wittman, Accuvant’s senior vice president of corporate development, said in the statement.

The Maryland Economic Development Assistance Fund provided Accuvant with a $300,000 conditional loan. Howard County gave Accuvant a $30,000 facility improvement grant. Accuvant also will be eligible for additional state and county tax credits.

InvestMaryland taps two more VC firms

The Maryland Venture Fund Authority selected New Atlantic Ventures of Reston, Va., and Cambridge, Mass., and Kinetic Ventures of Washington, D.C., and Atlanta to receive funds through its $84 million InvestMaryland initiative.

New Atlantic will receive $8 million and Kinetic will receive $5 million to invest in innovative early-stage businesses in the state. The firms, if successful with their investments, are to return 100 percent of the principal and 80 percent of the profits to the state’s general fund.

“New Atlantic and Kinetic bring to the table impressive histories of investing in Maryland and supporting young companies in high-growth Maryland industries,” said Peter Greenleaf, chairman of the authority and AstraZeneca’s president, Latin America, at MedImmune in Gaithersburg.

Last month, the state committed $12 million to Grotech Ventures, which has an office in Hunt Valley.

New Atlantic Ventures makes seed and early-stage investments in mobile, e-commerce, advertising, cybersecurity, healthcare and online education technology businesses. Kinetic Ventures invests in high-growth information technology, communications, and power and clean technology companies, according to DBED.

Also, Maryland picked its top 71 applicants for the $300,000 InvestMaryland Challenge. Chosen from more than 250 applicants, including several from other states, they have until Friday to submit a business plan for the second round of scoring in either the information technology and software, life science or general categories.

D.C. region’s foreclosure rate dropped in 2012

With one foreclosure filing per 130 households, the Greater Washington, D.C., Metro region had the nation’s 149th-highest rate among metropolitan areas last year, according to new data from RealtyTrac of Irvine, Calif.

That rate was down 11.0 percent from 2011 and 61.2 percent from 2010.

The Baltimore-Towson area came in at No. 160, with one filing per 151 households, up 34.5 percent from 2011, but down 57.3 percent from 2010.

At No. 168 was Hagerstown-Martinsburg, W.Va., with one filing per 166 households, up 12.1 percent from 2011, but down 46.7 percent from 2010.

The national rate was one filing per 72 household, which was down 2.7 from the previous year and 36.1 from 2010.

The metro regions with the nation’s four highest rates were in California, led by Stockton, which had one filing per 25 households. Still, that was down 25 percent and 41.3 percent from 2011 and 2010, respectively.

State signs up for chicken manure power

The state, working with the University System of Maryland, plans to buy electricity produced primarily from chicken manure on the Eastern Shore.

Under an agreement announced Jan. 25, the state will buy at least 10 megawatts from Green Planet Power Solutions in Caroline County.

The contract, awarded via the Clean Bay Power process, promotes renewable energy, cuts the state’s agricultural runoff in the Chesapeake Bay, encourages job creation and promotes the state’s farm industry, according to a statement from the office of Gov. Martin O’Malley.

The plant will be built in Federalsburg, creating 200 construction jobs and 24 permanent jobs. It is designed to cut 230,000 pounds of nitrogen runoff annually, and save Maryland from $53.2 million to $80 million in avoided energy costs during the 15-year contract, according to the statement.