Maryland governor announces venture-capital initiative
O'Malley announces bioscience initiative
Maryland Gov. Martin O'Malley (D) has a new proposal aimed at boosting venture capital for businesses such as bioscience companies.
He rolled out the proposal Tuesday in a speech in Rockville.
Under InvestMaryland, which will require legislative approval, insurance companies would be eligible for state tax credits if they invested in Maryland's venture infrastructure. The money would be used to help businesses creating jobs in fields such as biosciences and nanotechnology.
-- Associated Press
Va. Cooperatives buy distribution business
Allegheny Energy says it has completed the sale of its Virginia distribution business to a pair of electric cooperatives.
The energy company says it has sold Potomac Edison's Virginia service territory to Fredericksburg-based Rappahannock Electric Cooperative and Mount Crawford-based Shenandoah Valley Electric Cooperative.