'Remarkable efforts:' Baltimore Street project earns recognition
CUMBERLAND — The Cumberland Economic Development Corp. will receive the Transformative Economic Development Award for the Baltimore Street Redevelopment Project at the Maryland Economic Development Awards Banquet in April.
'This revitalization has reshaped the city, reducing vacant buildings, attracting private investment, boosting the tax base by millions and creating a vibrant space for residents, workers and visitors,' MEDA said in a release.
The $17.2 million project, which began in March 2023 and was finished in November, created new underground infrastructure and replaced a pedestrian mall with a single-lane street for car and bicycle traffic.
'We remain most proud of our efforts on this project and are most pleased to be recognized with this statewide award for Transformative Economic Development project,' said Matt Miller, executive director of the CEDC.
In the release, the MEDA said it would recognize the 'remarkable efforts to redevelop historically significant buildings along Baltimore Street in Cumberland that had long sat vacant.'
'Over a decade of strategic planning, sourcing grants through strong partners at all levels of government, and lots of hard work by Executive Director Matt Miller and team led to this recognition and to the completion of this transformative project,' Jonathan Hutcherson, CEDC board chairman, said.
In the Small Community category, Make It. In The Mountains, a collaboration between Allegany and Garrett counties and the Maryland Department of Commerce will receive recognition for its focused campaign to attract and retain businesses in sectors such as apparel, outdoor vehicles, timber and specialty foods.
The campaign, which reached over 54,800 unique digital interactions, aims to enhance the region's economic profile and foster sustainable growth by targeting businesses with the highest potential for success, minimizing risks and maximizing resources.
The programs will be recognized during a banquet at MEDA's annual conference April 28 at the Hyatt Regency in Cambridge.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Bloomberg
a day ago
- Bloomberg
Tariffs Still Causing Uncertainty In Markets: Oden
HSBC Head of Wealth and Personal Banking Racquel Oden speaks with Matt Miller and Sonali Basak on "Open Interest." (Source: Bloomberg)
Yahoo
17-05-2025
- Yahoo
Landstar tackles cargo theft, fraud with AI and specialized department
This story was originally published on Trucking Dive. To receive daily news and insights, subscribe to our free daily Trucking Dive newsletter. Landstar System saw elevated insurance and claim costs in Q1 due to cargo theft, carrier imposter scams and increased severity of trucking accidents, which it plans to tackle through the use of AI, according to a May 13 earnings call. In Q1 2025, insurance and claims costs were $39.9 million versus $26.3 million in Q1 2024. Insurance and claims costs were 9.3% of business capacity owner or independent owner-operator revenue in the quarter, compared to 5.8% in the year-ago quarter, according to CFO Jim Todd. Near the end of the quarter, the company discovered it fell victim to a fraud incident that impacted its international freight forwarding operations. The inception of the fraud dates back to 2019 and is isolated through a single satellite agent office, CEO Frank Lonegro said. With the rise in cargo theft and fraud impacting the industry, Landstar System is 'investing significantly' to combat the issues, Matt Miller, VP and chief safety and operations officer, said on the call. Landstar created a fraud department and continues to add people with subject matter expertise. It's also investing in technology and AI, through vendors and internally. 'We've stood up various vendors that are helping us attack on really all fronts, whether it's people, education or technology. But this is an area where [you've] got to remain vigilant and you're really always playing defense here,' Miller said on the call. Lonegro added that as Landstar deploys the technology, it will be able to catch fraud and theft in advance. Landstar's fraud incident pushed back the transportation company's report of its first quarter earnings, which was originally set for April 29, according to an 8-K filing. Landstar is not alone in experiencing the rise in cargo theft cases. 'It's an industry phenomenon, not just a Landstar phenomenon,' Lonegro said. Trucking, railroad and shipper representatives have been outspoken about the rise of cargo theft affecting U.S. supply chains during Congressional hearings and letters to Congress. While cargo theft has been on the rise over the past few years, it has now become almost endemic, said Janelle Griffith, North American logistics practice leader for Marsh, an insurance broker and risk management company. 'It is top of mind for everyone. It is the first thing that everyone talks about when it comes to risk in the supply chain and specifically when it comes to 3PL's and shippers because it's affecting everybody,' Griffith told Trucking Dive in an interview back in April. 'It's affecting the first party shipper. It's affecting the third party logistics entities and everyone is essentially suffering as a result of it,' she said. Recommended Reading Landstar owner-operator count drops 10% YoY — and isn't finished shrinking
Bloomberg
02-05-2025
- Bloomberg
Take-Two Delays Grand Theft Auto VI, Again
Take-Two Interactive is falling the most in two-and-a-half years after it pushed back the release of Grand Theft Auto VI to next year. Matt Miller, Sonali Basak and Katie Greifeld talk about the delay and what it means for the rest of the gaming industry. (Source: Bloomberg)
