Maryland Governor Martin O’Malley will lead a high level delegation of Maryland business people, State government officials, and Jewish community leaders on an economic development mission to Israel this week. Most of the businesspeople are involved in the biotech industry.
The delegation, arriving Tuesday, will focus on expanding the already substantial business ties between Maryland and Israel. Maryland exported over $44 million of goods and services to Israel in 2006.
O'Malley, who has visited Israel in the past when he was Baltimore's mayor, said, “I am excited to return to Israel as Maryland’s Governor and continue the great work that has already begun between Maryland and Israel. During the trip, we hope to build new relationships and successful partnerships between Maryland and Israeli companies, as well as explore new opportunities based on our shared strengths, which continue to be our technology and life sciences-based economies.”
Several Maryland venture capital firms have invested in Israeli companies including high tech and biotech focused players such as EMZA, Defensoft, Icaros, FiberZone Networks, ClassifEye, Innovea, eBIZmobility, LifeBond and Flexicath.
Many Israeli biotech companies have established significant presences in Maryland, which houses many US healthcare related agencies. Nearly 30 Israeli companies maintain offices in Maryland, including the US business development offices of Israel’s largest defense contractors, Rafael Armament Development Authority Ltd. and Israel Military Industries Ltd. (IMI). Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA; TASE: TEVA) also has a Maryland presence, following its January 2008 acquisition of Rockville-based CoGenesys.
During the week-long mission, Governor O’Malley will meet with local businesses, and he is planning several economic development announcements. In addition, the Governor will deliver a speech at the prestigious Israel Life Sciences Industry (ILSI) Biomed 2008 conference in Tel Aviv.
Governor O’Malley is scheduled to meet with several Israeli officials during the mission, including Prime Minister Ehud Olmert, US Ambassador Richard Jones, and Likud party chairman Binyamin Netanyahu. He will also visit Jerusalem's Yad Vashem holocaust museum and memorial, and Massada.
Maryland/Israel Development Center chairman Abba David Poliakoff said, “Governor O’Malley’s trade mission to Israel sends a strong message to Israeli entrepreneurs and executives that Maryland is the premier destination for Israeli life science and high tech companies entering the US market."
Participants include Toucan Capital managing director and co-founder Linda Powers, Constellation Energy CIO and senior vice-president Beth Perlman, Nobska Ventures partner Dr. Gary E. Applebaum, and Dr. Lawrence C. Mahan.
Published by Globes [online], Israel business news - www.globes-online.com - on May 26, 2008
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