Baltimore County Jobs Supported by Stem Cell Research
Hundreds of Baltimore county jobs (Click here) and positions throughout the state are created by Maryland's stem cell research program.
"Economic Benefits of Maryland's Stem Cell Program already Apparent," a new study conducted by Sage Policy Group, Inc. for the Maryland Technology Development Corporation, found that the Maryland Stem Cell Research Fund supports 514 local jobs - with an average salary of $64,000 - and facilitates $71.3 million in business sales throughout the state.
The study found that the program's grants have created:
- 250 direct jobs with $21.8 million in labor income and $35.5 million in business sales
- 104 indirect jobs with $5.5 million in labor income and $14.9 million in business sales
- 160 induced jobs with $6.8 million in labor income and $20.9 million in business sales
Pittsburgh Finance Jobs Created by Increased Lending
One company's commitment to improve lending will create more Pittsburgh finance jobs and allow small businesses to hire more workers.
Columbus-based Huntington Bancshares Inc. recently announced that it will offer $4 billion in lending to small businesses in the Midwest during the next three years. About $360 million of that investment will go to small businesses in Pittsburgh, which could affect 2,500 companies.
Huntington is currently the eighth-largest bank by deposits and the fourth-largest Small Business Administrator lender in Pittsburgh. The company plans to add more than 12 business bankers in the city, more than doubling the current number.