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Business Journal PO Box 510 Salisbury, MD 21803-0510
The Regional Chamber Newsletter
Vol. 13 No. 5 Dedicated to the Principles of Free Enterprise
December 2009
Economic Forecast focuses on ‘recovery’
The University of Maryland Eastern Shore, Eastern Region Small Business Development Center, Salisbury University and its Franklin P. Perdue School of Business, and the Salisbury Area Chamber will hold their annual analysis of critical local and national economic issues at the Economic Forecast 2010. The event will be held January 21, 2010 at the University of Maryland Eastern Shore. Topics planned for the program include a review of the factors affecting local, regional and the national economy and a projection of what 2010 will bring. Presentations are currently be-
ChamberFest
ing planned but should include: 1. Regulatory challenges to agriculture that could drive the poultry industry off the Delmarva Peninsula and change the entire foundation of our regional economy. 2. The health care industry’s shortage of medical personnel and poor income stream which could make reform impossible. 3. Real estate: will the recovery come soon? 4. Jobs for the future: what skills are needed now and during the economic recovery? 5. Financing projects: how to get
capital in a heavily controlled financial system. Sponsors are still needed for this year’s program. Any business interested in being a part of this economic program which draws over 100 area business and government leaders should contact Brad at the Chamber. The Salisbury Area Chamber of Commerce’s January general membership luncheon will follow the Economic Forecast at UMES. The guest speaker, Maryland Comptroller, Peter Franchot, will give an update on the fiscal health of Maryland’s government.
Thanks to the cooperation of many, ChamberFest 2009 was a big success. Page 26
enterprise
What’s the best hope for restoring the economy?
Page 3
INDEX Ad Directory........................................ 29 Barometer............................................. 9 Business Directory............................. 28 Business Mix...................................... 21 Calendar............................................. 13 City of Salisbury................................. 19 Education........................................... 27 Health................................................. 16 Human Resources.............................. 30 Insights............................................... 20 Member Spotlight................................. 6 New members.................................... 11 Personnel........................................... 25 Salisbury University............................ 27 SCORE............................................... 31 UMES................................................. 24
Above is the new home of the Tri-County Council, located on US 50. The building was recently purchased for $4 million.
Tri-County Council makes major purchase By Lynn R. Parks
The 74,000-square foot Salisburyarea building that was vacated by the California-based company Powerwave Technologies in June 2008 has been bought. The Tri-County Council for the Lower Shore of Eastern Maryland purchased the property on U.S. 50 across from Wor-Wic Community College in October for $4 million.
“This really was a success story of cooperation,” said real estate agent Wesley Cox, CCIM (Certified Commercial Investment Member) and a national advisor with Sperry Van Ness in Salisbury. “In this market, it takes both a motivated seller and a motivated buyer to get a sale done.” The building, constructed in 1996 for Philtronic Comtek, was bought by Powerwave in 2006 and vacated in June
Salisbury Area Chamber of Commerce Patrons
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2008. It went on the market in November of that year. By June 2009, the TriCounty Council had signed a contract agreeing to buy the building. Funding for the purchase is being provided by USDA Rural Development and by Hebron Savings Bank, with help from the Maryland Department of Transportation. “In this market, we knew that this Continued to page 15