Governor Moore Announces New Foreign Direct Investment Partnerships to Fuel Economic Growth

Annapolis, MD – Governor Wes Moore and Lieutenant Governor Aruna Miller have announced three significant new foreign direct investment partnerships established at the recent SelectUSA Investment Summit, signaling a strategic effort to bolster Maryland’s economy. These initiatives aim to foster international collaboration and attract global businesses to the state.

The first of these new ventures is the creation of a Maryland-Korea Trade Desk. This desk will serve as a dedicated point of contact within the Korean Embassy, ensuring ongoing dialogue and the identification of shared growth opportunities. The initiative seeks to promote Maryland as a prime destination for Korean companies looking to invest in the United States. This development follows a period of substantial investment from Korean firms in Maryland, including Samsung Biologics and Nature Cell, which have contributed to job creation. Furthermore, Maryland-based IonQ is playing a crucial role in South Korea’s national quantum strategy through the provision of its advanced quantum system to the Korea Institute of Science and Technology Information.

In addition to the Korean partnership, a new international technology collaboration has been formed between the Maryland Technology Development Corporation (TEDCO) and the Kingdom of Jordan. This agreement is designed to create a bridge between startups in both Maryland and Jordan, paving the way for co-investment opportunities, exchange programs, and the expansion of international markets. The collaboration is expected to foster innovation and entrepreneurial growth within both regions.

The third key announcement involves the addition of Impulse Biomed, a life sciences startup from South Africa, to Maryland’s Global Gateway program. This program, administered by the Maryland Department of Commerce, provides international companies with a structured pathway to enter the U.S. market while mitigating potential risks. Impulse Biomed will establish a presence at The LaunchPort in Baltimore City, marking the first participant in this new soft landing partnership. Impulse Biomed specializes in developing affordable and reliable medical devices, including the Easy Squeezy device for asthma inhalers and the ZiBiPen, a reloadable autoinjector for emergency medication. The company views Maryland as an ideal location for its U.S. market entry due to the state’s robust ecosystem, which includes access to regulatory expertise, manufacturing capabilities, and commercial partners.

The SelectUSA Investment Summit, held annually in National Harbor, is a premier event focused on promoting foreign direct investment within the United States. Organized by the U.S. Department of Commerce, the summit has been instrumental in securing significant investment projects and creating jobs nationwide. Throughout the event, Maryland officials engaged with international delegations and business leaders from countries including the Republic of Korea, Japan, Ireland, Singapore, the United Arab Emirates, Jordan, and Australia, actively promoting the state’s advantages for foreign investment. Governor Moore also participated in a plenary panel session alongside other state governors, discussing strategies for attracting global investment and highlighting Maryland’s unique assets and economic development strategy.

These new partnerships are expected to drive job creation, foster technological advancement, and expand Maryland’s global economic footprint, reinforcing the state’s position as a hub for innovation and international commerce.

Article by Mel Anara, based upon information from the Office of Governor Wes Moore

---