Economic Development Week

This week, October 15-19, 2012, is Economic Development Week across Maryland, initiated and sponsored by the Maryland Economic Development Association (MEDA). In recognition, the Montgomery County Department of Economic Development (DED) announces eleven local companies making the 2012 Inc. 500 list of fastest growing companies, key events taking place this week to support local businesses and several mixed-use development projects coming soon to the County.

Eleven of Maryland’s twenty companies making the Inc. 500 list are located in Montgomery County. The list ranks companies using several criteria, namely growth over the previous three years and amount of sales in 2011.

The Montgomery County companies making the list, in rank order, are:

174 – Blue Corona, with three-year growth of 1,990 percent. The Gaithersburg online marketing and analytics firm posted 2011 revenue of $2.1 million.

241 – ESAC, with three-year growth of 1,498 percent. The Rockville research data management firm posted 2011 revenue of $4.1 million.

252 – MBL Technologies, with three-year growth of 1,418 percent. The Rockville IT firm posted revenue of $10.9 million in 2011.

253 – TISTA Science and Technology, with three-year growth of 1,410 percent. The Rockville IT firm had 2011 revenue of $10 million.

265 – RainKing Solutions, with three-year growth of 1,359 percent. The Bethesda IT firm posted 2011 revenue of $8.6 million.

269 – Special Operations Solutions, with three-year growth of 1,324 percent. The Silver Spring consulting and software firm posted 2011 revenue of $5.9 million.

309 – Wedding Wire, with three-year growth of 1,200 percent. The Bethesda operator of wedding, prom and bar/bat mitzvah sites had 2011 revenue of $10.1 million.

387 – Digital Management, with three-year growth of 972 percent. The Bethesda tech firm had 2011 revenue of $103.1 million.

439 – Standard Solar, with three-year growth of 850 percent. The Rockville solar firm posted revenue in 2011 of $42.7 million.

451 – Sonatype, with three-year growth of 839 percent. The Silver Spring software development firm had 2011 revenue of $2 million.

489 – LongView International Technology Solutions, with three-year growth of 780 percent. The Bethesda IT firm posted 2011 revenue of $21.8 million.

These companies represent the diversity of the County’s business community and play a vital role in supporting the County’s still robust business climate. Digital Management, Inc. – started in the basement of CEO Sunny Bajaj’s parents’ home just ten years ago – recently celebrated the opening of its new world headquarters in Bethesda attended by Governor Martin O’Malley and Montgomery County Executive Isiah Leggett. Today, the company has revenues of more than $10 million and employs over 800 workers worldwide.

Targeted public and private-sector conferences and seminars help support our local economy and the success of businesses in it. To that end, following are several such events taking place this week:

• October 15 – National Heart Lung and Blood Institute (NHLBI) Mid-Atlantic Innovation Conference. The Conference brings together NHLBI SBIR-funded companies, investors, venture capitalists, strategic partners and business leaders from the biotech and pharmaceutical industries. Johns Hopkins University Montgomery County Campus, Rockville.

• October 16-17 – CyberMaryland 2012 brings together the region’s leading technology companies, business leaders, emerging professionals, policy makers, elected officials and entrepreneurs to share ideas on how to grow this vital sector. The event also features the National Cyber Security Hall of Fame Inaugural Induction Ceremony & Awards Banquet. Baltimore Convention Center, Baltimore.

• October 18 – Cybersecurity: No longer just an IT problem. Women in Technology (WIT) presents this informative event featuring panelists from the public and private sectors discussing the importance and challenges of communication and coordination in protecting our Nation’s critical assets – including company and personal assets. Rockville Hilton, Rockville.

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