When it came time for the Maryland Economic Development Association to name its president of the board of directors, it was easy to tap Tammi Thomas for the position. Currently TEDCO’s chief development and marketing officer, Thomas has worked in various capacities with the organization to broaden awareness of TEDCO’s various economic development programs, as well as the organization’s branding, marketing and communications, since 2016.

Her resume includes previous C-suite positions at Bowie State University, the bwtech@UMBC Research & Technology Park and Data Solutions & Technology, in Washington, D.C.; she’s also worked as an adjunct professor at BSU and the University of Baltimore.

Her citations from her peers include the MEDA Marketing Award in 2020 for her work on TEDCO’s Entrepreneur Expo. That signature TEDCO event is on the minds of many members of the region’s tech community these days, as it’s coming up on Tuesday, Oct. 21 at The Hotel at The University of Maryland.

How does TEDCO keep companies in Maryland after it invests in them?

We offer a variety of business resources that we provide for our clients. They include network advisers, loan executives, the Small Business Innovation Research proposal lab, an Intellectual Property management platform, the Rural Business Innovation Initiative, the Urban Business Innovation Initiative and various market research databases, among others.

How can companies qualify for financial assistance from TEDCO?

On the investment fund side, they can apply online for our Social Impact Funds, Seed Funds and Venture Funds; each fund has different criteria; we offer monthly virtual meetings to connect our clients with a fund manager and to educate them about how to obtain investment funds. We also offer the Maryland Stem Cell Research Fund, the Maryland Innovation Initiative and the Equitech Growth Fund.

How has TEDCO expanded its efforts outside of Maryland?

Money from the Business Resource Information, Development and Guidance Ecosystem (or BRIDGE) program represents nearly $10 million in federal funding that can be used in Maryland, Virginia, Washington, D.C. and Delaware. That entity has helped us strengthen our presence in the mid-Atlantic.

Are the companies TEDCO works with always early-stage companies?

Yes. We always focus on early-stage venture capital companies that range from pre-seed to Series A. Because we have different types of clients, the funding amounts we invest vary in size due to the segment of the industry, stage of growth, the age of the company, etc. The needs of an early-stage company in the cybersecurity industry, for instance, can be quite different from an early-stage medical device company.

What types of companies does TEDCO generally work with?

Technology and life sciences. We are generally agnostic in our approach, so the entities can come from anywhere, as noted above, from an educational concern to an agricultural company. We offer free monthly Investment Open Forums so companies can ask questions about what we offer.

How is TEDCO positioned in the market?

We are an economic development and venture capital organization; we are approached by hundreds of companies annually ― and we assist many of them ― before they apply for funding. As for our staff (of 39), we offer everything from venture capital funders to economic developers to procurement officers in our quest to support Maryland’s innovation ecosystem.

How has the TEDCO Entrepreneur Expo grown in recent years?

This will be our 11th TEDCO Entrepreneur Expo. During its run, it has grown not only in the number of exhibitors, but in the number of attendees. Last year’s event at the Renaissance Baltimore Harborplace Hotel drew more than 1,000 attendees (97% said they would attend again) and 84 exhibitors (including 34 startups). We’re looking for a big crowd again on Tuesday, Oct. 21, when we return to The Hotel at the University of Maryland.

What are your best success stories in recent years?

Blackpoint Cyber, of Ellicott City, is a big one. Five years after TEDCO’s Seed Funds provided an initial investment of $200,000 in 2018, the company raised a $7 million Series B two years later, as well as a $190 million Series C with Bain Capital.

Another is Baltimore-based Allovue. The company received a $100,000 Seed Fund investment from TEDCO in 2013 to develop its K-12 finance software and services. It was sold in 2024 to PowerSchool for an undisclosed amount.

Let’s discuss your role at MEDA. How does the organization work to improve economic development?

MEDA works to enhance member knowledge and skills by offering a variety of networking events for people committed to bringing jobs and capital to Maryland, as well as economic development certification courses, as we work to grow the profession.

How many economic development offices are there in Maryland?

That can be tough to answer. There is one for each county, as well as Baltimore City, so that’s 24. Then many of the cities and towns around the state have an office, as do some businesses and corporations, which include 24 more MEDA members. Overall, you can say there are several dozen in the state.

How do data and analytics figure into determining success in economic development?

MEDA recently released a study of all the economic development offices in Maryland. It revealed that each dollar invested in local economic development operations generates an average of $8.81 in tax revenues. The study was conducted by the Business and Economic Outreach Network at Salisbury University and MEDA’s Public Policy Committee. Data from 2022–2024 was modeled using IMPLAN, a regional economic analysis tool.

How will MEDA celebrate Economic Development Week (which runs from Oct. 20-24)?

This is the 15th Economic Development Week in Maryland and many of them will celebrate in their own way. We will post various events on the MEDA website, while TEDCO will celebrate that Tuesday with its Entrepreneur Expo, which is an all-day event.

What new efforts will we see from MEDA in the coming months?

We’re holding the Main Street Maryland Conference at the Tidewater Inn, in Easton, on Tuesday and Wednesday, Oct. 7-8, with the theme, “Great Places Win: Powering People, Places, and Possibility.” It will feature the Department of Housing and Community Development Secretary Jake Day and be focused on building new communities where people want to live and work.

Then on Jan. 15, during the start of Session 2026, MEDA will be back in Annapolis for our Winter Conference. It will be held at the Gov. Calvert House.    

What are your thoughts of the cost of living in Maryland regarding attracting workforce?

I’ve lived all over the U.S. and Maryland is my favorite place. We have an abundance of opportunities here, from our work endeavors to professional sports, entertainment, outdoor activities, public libraries, international airports, health care, etc.

Many states are more expansive geographically, but few offer the overall access to professional, educational and recreational institutions that Maryland does ― and many of them offer free events. If you live in many other parts of the U.S., those options aren’t available. I think more people need to understand that the investment made in Maryland results in a healthy lifestyle.

What parts of your career do you find most challenging?

Finding enough time to do what I love, which is my job. I work 10-12 hour days and time management is always hard.

What parts of your career are proudest of?

I find something to be proud about every day, which helps me to recalibrate for whatever I didn’t get done the day before. I like to start the day with a positive attitude.

What else would you like to do?

I’d like to take an extended trip with my 21-year-old daughter, Sydney, who is a nuclear engineer with the U.S. Navy on the U.S.S. Georgia. She’s busy, too, as she’s working on her degree at Drexel University. She’s also a Centennial High graduate from the Class of 2021.

Source: The Business Monthly