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Hogan Trade Mission Yields Early Results

September 20th, 2016 by WCBC Radio

On the first day of an economic development mission to Israel, Governor Larry Hogan announced that Israel-based Nayax, a global leader in the cashless payment solutions industry, has opened its U.S. headquarters in Maryland. The company, which was established in 2005 and now operates in more than 50 countries, opened an office in Hunt Valley following its acquisition of InOne, a Maryland distributor service solution for vending machines. Nayax currently has more than 15 sales, technical support and finance employees in Maryland with plans to grow.

“With our offices located in Hunt Valley, Nayax finds itself well positioned for day-to-day operations and future expansion,” said Carly Furman, chief financial officer and chief operating officer of Nayax, LLC. “The unattended device industry has a strong presence in the greater Maryland area and beyond. Our centrality lets us easily reach existing and potential customers, as well as work closely with industry advocates with the support of the Maryland DC Vending Association.”

“We are proud to welcome global company Nayax to Maryland and look forward to helping them to grow in our state,” said Governor Hogan. “Maryland’s strategic location and unique access to quality employees, international airports, rail lines, and the Port of Baltimore will provide Nayax with a competitive advantage to expand into new markets and attract new customers.”

Nayax was among several innovative Israeli companies that Governor Hogan met with today as he kicked off his economic development mission to Israel. The governor is leading a delegation of business, education and community leaders on the weeklong mission, which is aimed at strengthening cultural ties and promoting Maryland as a gateway for Israeli companies seeking to establish U.S. operations.

Maryland has long maintained ties with Israel, building on shared strengths in biotechnology, information technology, aerospace and defense. Approximately 24 Israeli companies currently maintain offices in Maryland, including Rafael Advanced Defense Systems Ltd., Medispec and IMI Services (a subsidiary of Israel Military Industries). In 2015, Israel was Maryland’s 43rd largest trading partner with $145.1 million in product exports, mostly chemicals, transportation equipment, and computer and electronic products. 

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