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InvestMaryland Day canceled

InvestMaryland Day canceled

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Turns out you can’t out-lobby the snow.

The Department of Business and Economic Development had to call off its event Thursday morning promoting InvestMaryland after a round of “thunder snow” socked the state.

DBED was expecting 300 people to show at the four-hour event promoting the program (InvestMaryland, not thunder snow) that is the top economic proposal in Gov. Martin O’Malley’s 2011 legislative agenda. O’Malley was set to address the crowd at 9:15, but a spokeswoman, in an email, said the entire event had been called off due to the weather.

The proposal would fill a $100 million venture fund by selling tax credits to insurance companies. The fund, half controlled by private venture firms and half by a state-appointed consultant, would focus on early stage, high-tech firms. The private investors would return all of the principal and 80 percent of the profits to the state.

DBED had lined up tech entrepreneurs and others to speak at their event and drum up support for the program.

No word yet on whether it will be rescheduled.

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