Legal Blog

Mid-Atlantic Business Minute: Early Summer Momentum

This is the first edition of the Mid-Atlantic Business Minute where we will periodically provide updates regarding business and economic developments in the Mid-Atlantic region. I hope you enjoy!

Transaction and economic development activity in the Mid-Atlantic continues to be strong.  The below links are only a few of the exciting developments in the Mid-Atlantic.  We can continue to expect significant activity, which may increase if additional certainty comes to the government budget picture.

 

Transactions

DGS Raises $8.5M
Digital Global Systems Inc.(DGS) of Beltsville, MD raised $8.5 million in financing.  DGS delivers patented smart RF spectrum monitoring and management solutions for telecommunications, transportation, utilities, public safety, government and defense organizations. Read More

NEA Joins $10M Series A For Nuvolo
JERSEY CITY, N.J.–(BUSINESS WIRE)–Nuvolo, the world’s fastest growing cloud-based enterprise asset management (EAM) company, today announced $10 million in Series A funding. Read More

 

Economic Development in the DMV

Italian manufacturer to build $10 million plant, create 30 jobs, in Kearneysville
TeMa Group, based in Italy, has announced that its subsidiary TeMa North America plans to build a manufacturing facility in Jefferson County, West Virginia near Charles Town.  The 42,000 square foot plant is expected to create 30 jobs and will be the company’s first manufacturing operating in the United States.  The new facility will produce insulation and drainage systems for residential, commercial, and industrial use. Read More

The ‘epicenter of transformational development’ in Tysons offered for sale
Beacon Capital Partners is seeking buyers for Tysons Metro Center, a four-building office park adjacent to the Greensboro Metro station.  Beacon Capital Partners believes that Tysons Metro Center is positioned to benefit from major redevelopment projects, including The Meridian Group’s The Boro, NV Commercial’s Tysons Central and its own Greensboro Park Place. Read More

Md. casino revenue has jumped since MGM opened, but nearby venues took a hit
MGM National Harbor has helped boost the Maryland’s overall gaming revenue since it opened Dec. 8, but the newcomer appears to be eating into the profits of Maryland’s other top casinos. Read More

 

If you have any economic development news for the Mid-Atlantic region, please feel free to share!
Questions or comments? Contact me at dcasto@offitkurman.com or 703-745-1820.

 

ABOUT DANIEL CASTO

dcasto@offitkurman.com | 703.745.1820

Daniel M. Casto concentrates his practice in business law and transactions. He serves as an advisor and partner to clients on matters related to corporate and business law, securities issuances and disclosure requirements, commercial transactions, business and strategic planning, risk assessment, corporate governance, government contracting, taxation, financial regulatory, education regulatory, and government affairs.

Prior to joining Offit Kurman, Mr. Casto was Vice President, Associate General Counsel & SEC Reporting of American Public Education, Inc. (NASDAQ: APEI) and its subsidiary educational institutions, a Senior Associate in the Financial Institutions Group of the international law firm Wilmer Cutler Pickering Hale and Dorr LLP, Associate in the Corporate and Finance Group of the international law firm of Sullivan & Cromwell LLP, and Legislative Director for then Congresswoman (now Senator) Shelley Moore Capito who represented West Virginia’s Second Congressional District. Mr. Casto began his career as an accountant with the United States Department of the Treasury’s Bureau of the Public Debt (now the Bureau of the Fiscal Service).

 

 

ABOUT OFFIT KURMAN

Offit Kurman is one of the fastest-growing, full-service law firms in the Mid-Atlantic region. With over 135 attorneys offering a comprehensive range of services in virtually every legal category, the firm is well positioned to meet the needs of dynamic businesses and the people who own and operate them. Our eleven offices serve individual and corporate clients in the Virginia, Washington, DC, Maryland, Delaware, Pennsylvania, New Jersey, and New York City. At Offit Kurman, we are our clients’ most trusted legal advisors, professionals who help maximize and protect business value and personal wealth. In every interaction, we consistently maintain our clients’ confidence by remaining focused on furthering their objectives and achieving their goals in an efficient manner. Trust, knowledge, confidence—in a partner, that’s perfect.

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