Friday, Dec. 14, 2007

Business notes

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Flying Dog beer shifts brewing to Frederick

Flying Dog Brewery of Denver, which purchased Frederick Brewing Co. for $1.7 million last year, will move all of its brewing operations to Maryland next month.

The Frederick brewery can brew a wider range of recipes than the one in Denver and has more oxygen uptake, which improves flavor and shelf life, according to Flying Dog information.

‘‘By concentrating the brewing operations in Maryland, we will become a more efficient business, which is very important given the extremely competitive conditions in the craft beer industry,” Eric Warner, CEO of Flying Dog, said in a statement.

Increasing costs of raw materials, including hops and malt, and the loss of contracts from smaller craft brewers also factored into the decision, according to Warner.

Flying Dog Brewery recently raised $3 million to fund continued development of its brands, including 13 draft beers.

Chindex lands $35Min partnership with IFC

Chindex International Inc. of Bethesda, which provides Western health care services and products in China, will receive $35 million in additional funding from International Finance Corp., a member of the World Bank Group, to continue expansion of its hospital and clinic network.

Chindex had previously partnered with IFC in 2004 to expand the first two hospitals in the company’s network. The $35 million, coupled with the recent $50 million investment in the company by J.P. Morgan’s principal management investment group, represents a significant portion of a planned $100 million of total financing for Chindex’s expansion plans.

Chindex will also receive $25 million from IFC for loans to be made directly to joint venture entities, to be established in China and controlled by Chindex, to construct, equip and operate two new hospitals and a related clinic.

State BPW approvestransit development

The Board of Public Works this week approved two Smart Growth projects that aim to steer mixed-use developments around high-density transit stations.

The $1.2 billion redevelopment of State Center in downtown Baltimore will revitalize 25 acres, the largest single-site development effort in the city since the Inner Harbor project.

The BPW also signed off on a measure to eventually build a $200 million transit-oriented development adjacent to the Savage MARC station. Plans call for retail, office and residential space, in addition to a hotel and a parking garage for MARC riders.

The panel also approved $6 million to expand commuter rail service between Baltimore and Washington, D.C., by adding three new trains to boost capacity during the afternoon rush hour and to provide late evening service. The new schedule is to take effect in early February.