Local businesses discuss economics with state comptroller

Louna Primm is tired of watching the economy ravage local businesses.

"We're watching good companies fold because they can't afford the costs of operating," the executive vice president of the New Windsor State Bank said. "We're watching entrepreneurs scale back to one operator."

Primm was one of almost 20 people who met with Maryland Comptroller Peter Franchot at the New Windsor Conference Center on the last stop of his listening tour, which kicked off in early May and made stops in all of Maryland's 23 counties and Baltimore City.

Franchot is up for re-election this year, facing challengers William Henry Campbell and Brendan Madigan.

Franchot said he was prompted by notes in tax returns to do this tour. In addition to a lot of people not being able to pay on time, the notes showed him the economic pain people are feeling, he said.

"It stimulated me to get out and see what's going on in the Maryland economy as opposed to the Annapolis budget," he said. "This is much more real."

Richard Haddad, president of the Carroll County Chamber of Commerce, assembled a diverse group of representatives from local businesses to take part in the informal roundtable discussion. Industries represented included financial services, insurance, auditing, manufacturing, banking, health care and education. Del. Nancy Stocksdale, R-District 5A, Del. Susan Krebs, R-District 9B, and County Commissioner Julia Walsh Gouge also attended.

Chris Coleman, assistant vice president of finance at the Carroll Hospital Center, spoke about the hospital's struggle to keep its work force intact and the hospital running even with decreasing revenue.

"People still need health care and that requires us to invest strategically," he said.

The financial sector spoke about its own struggles. Mark Blacksten, vice president of business banking at M&T Bank in Carroll County, spoke about how loaning is tough with decreased land and real estate values, which limits how much can be loaned.

Steve Aquino, principal at Aquino & Wolpoff Financial Group, said his clients are uncomfortable moving forward on projects and he is seeing a lot of people borrowing money from their retirement plans.

Carroll Community College is trying to keep its business training and skills classes going as demand soars but revenue does not.

"Our enrollment is exploding," said Faye Pappalardo, the college's president. "We are trying to do more with less."

Some offered Franchot advice on some issues they see.

Walter Patton, principal with commercial real estate firm KLNB, said his company has trouble getting information on surplus properties the state owns and told Franchot it's in the state's interest to correct that.

"I see a serious situation where you could pull in revenue that you're not," he said.

Kent Martin, plant manager at Lehigh Cement, suggested the state streamline its permitting process to make things faster.

Some offered positive news. Larry Twele, director of Carroll County Economic Development, said unemployment is creeping down and there are new business prospects popping up.

"We're not out of the woods by any means, but it's definitely better this year," he said.

Reach staff writer Marc Shapiro at 410-857-7890 or marc.shapiro@carrollcountytimes.com