The State of Maryland Jobs Initiative Package

It’s still early in the year, but the State of Maryland has announced a jobs initiative package that lays out incentives for job creation, STEM education, cyber training grants, and workforce development. A press release issued by the Office of Governor Larry Hogan outlines details of the package below.

As the centerpiece of Governor Hogan’s Maryland Jobs Initiative, this proposed legislation will aim to create thousands of jobs where they are needed most by eliminating all state taxes for ten years for new manufacturing employers that create jobs in high unemployment areas. To encourage existing Maryland manufacturers to add more jobs in these targeted employment zones, the governor’s proposal provides a tax credit for any new jobs they create. It also enables these companies to accelerate the deductions of their capital assets to free up capital for investment in new technology needed to create the jobs of the future. Qualifying jurisdictions currently include Baltimore City and Allegany, Dorchester, Somerset, and Worcester counties.

P-TECH Expansion: Governor Hogan announced additional investments to open six new Pathways in Technology Early College (P-TECH) high schools throughout the state, as well as funding to support students currently enrolled at existing P-TECH schools. P-TECH, co-developed by IBM, is an innovative, nationally recognized education model that blends high school, college, and work experience into one innovative program where graduates obtain a two-year associate degree in a STEM career field at no additional cost. P-TECH Dunbar and P-TECH Carver, both located in Baltimore City, opened for the 2016-17 school year.

Maryland Partnership for Workforce Quality: The governor announced a $1 million investment for this program to encourage businesses to invest in employee training, ultimately making Maryland more competitive by ensuring that the state’s workforce has access to the most up-to-date skills needed in an ever-changing job landscape.

Cyber Jobs Training Grants: The Hogan administration will make a $3 million investment to provide funding for cyber job training grants, modeled after Maryland’s nationally recognized Employment Advancement Right Now (EARN) workforce training program. More than 1,700 unemployed or underemployed workers have received training through the EARN program, and this cyber-specific EARN grant will address skills gaps in growing industries like security engineering and software development to provide the qualified workforce needed to continue growing Maryland’s vibrant cyber industry.

Cybersecurity Investment Incentive Program: This proposal improves an existing program by making tax credits accessible to investors in cybersecurity startups. Modeled on Maryland’s successful biotechnology tax credit, this initiative will continue to grow Maryland’s cybersecurity community, support small businesses, and incentivize investment in innovation.