Centerpiece of Governor Hogan’s Maryland Jobs Initiative incentivizes manufacturers that create jobs
BALTIMORE, MD (August 9, 2017) – The Maryland Department of Commerce continues to accept applications from manufacturing companies locating to or expanding in the state under a new incentive program called More Jobs for Marylanders. The program, Governor Larry Hogan’s signature job creation legislation during the 2017 legislative session, provides tax incentives for manufacturing companies that create new jobs and provide workforce development resources for employees. To date, more than two dozen companies, ranging from manufacturers of metal, construction products, wood and food, have filed a notice of intent to utilize the new program, indicating they plan to expand or locate in Maryland.
More Jobs for Marylanders has the potential to create thousands of new jobs, particularly in areas of the state where unemployment is high. New manufacturers that locate in targeted jurisdictions – Baltimore City or Allegany, Baltimore, Dorchester, Somerset, Prince George’s, Washington, and Worcester counties – and create at least five new jobs may qualify for income tax credits based on the number of jobs created, a state property tax credit, sales and use tax refund for specific purchases, and State Department of Assessment and Taxation fee waiver. Existing manufacturers that meet job creation criteria throughout the state may also qualify for the income tax credit.
“Since taking office two-and-a-half years ago, Governor Hogan has been laser focused on making Maryland more business friendly,” said Maryland Commerce Secretary Mike Gill. “The governor’s job creation program encourages Maryland manufacturers to expand their business, and out-of-state manufacturing companies to consider locating in our state. More Jobs for Marylanders will bring new jobs, new skills, and new companies to Maryland.”
In addition to these benefits, More Jobs for Marylanders workforce development resources include Partnership for Workforce Quality matching grants for workforce training, workforce development scholarships for students in job training programs at community colleges, and a state income tax credit for the first year of employment of an eligible apprentice.
About Maryland Commerce
The Maryland Department of Commerce stimulates private investment and creates jobs by attracting new businesses, encouraging the expansion and retention of existing companies, and providing financial assistance to Maryland companies. The Department promotes the State's many economic advantages and markets local products and services at home and abroad to spur economic development and international investment, trade and tourism. Because they are major economic generators, the Department also supports the arts, film production, sports and other special events. For more information, visit commerce.maryland.gov