GOVERNOR MARTIN O'MALLEY CONTINUES “JOBS ACROSS MARYLAND” TOUR

Visits with Employees at Cycle World; Visits Students at Freetown Elementary

BROOKLYN PARK, MD – Fulfilling his commitment to stimulate job creation and help put unemployed Marylanders back to work, Governor Martin O’Malley today continued his “Jobs Across Maryland” tour, and toured and visited with employees at Cycle World, the area’s largest volume power sports dealer. Cycle World has applied for the Job Creation and Recovery Tax Credit and has since made three new hires and plans to hire more. Governor O’Malley today also visited with students at Freetown Elementary School, a school that has recently been replaced through school construction funds allocated in FY2008 by the O’Malley-Brown Administration.

“There is no government program that is as important or as empowering as a job for helping a family put food on the table, pay the electric bill, and send their kids to college,” said Governor O’Malley. “I want to thank Jeff Hill and his team for putting more Marylanders back to work. It’s businesses like Cycle World that help in our efforts to create jobs, protect jobs, empower small businesses, and defend the hard-won progress of our hard-working families.”

Through the Jobs tour, Governor O’Malley visited Amethyst Technologies and Randallstown High School in Baltimore County, and visited Gray Graphics in Prince George’s County. As the “Jobs Across Maryland” tour continues, Governor O’Malley will visit with large and small Maryland businesses, public schools and career-training programs throughout the State to promote efforts to save and create jobs, including the passage of the emergency Job Creation and Recovery Tax Credit, which offers a $5,000 tax credit for every unemployed Marylander a company hires. The Governor will also discuss efforts to expand access to credit for Maryland businesses.

During his visit at Cycle World, Governor O’Malley met with employees in the service, parts and accessories, sales, and the showroom departments. He also met with the new employees who were recently hired through the Job Creation and Recovery Tax Credit. Cycle World was one of the first businesses to apply for the Job Creation and Recovery Tax Credit, and recently applied for another on April 30.

Founded in 1984, Cycle World is the area’s largest volume power sports dealer. Cycle World features Honda, Kawasaki, Yamaha, and Suzuki motorcycles and ATV’s, as well as scooters from Honda, Yamaha and Tomos and personal watercraft from Kawasaki and Yamaha. The company has three locations – two in Brooklyn Park and one in Rosedale. Currently, the company employs about 25, and is currently hiring in the service, parts and accessories departments.

“Through the Job Creation and Recovery Tax Credit, we have been able to hire more employees which has helped grow our business and better serve our customers,” said Jeff Hill, General Manager of Cycle World Inc. “We were one of the first companies to apply for the credit, and we hope to be able to hire additional employees through the program.”

Following his visit at Cycle World, Governor O’Malley visited with students at Freetown Elementary in Glen Burnie. Governor O’Malley ate lunch with students and toured the newly constructed 21st century classrooms which include SMART Board technology, and a new science lab. In FY2008, the O’Malley-Brown Administration allocated $6.7 million for a replacement school. Over the length of the project, Freetown employed about 250 workers for the construction project.

In March of this year, as part of his Economic Recovery Agenda, Governor Martin O’Malley signed into law the Job Creation and Recovery Tax Credit, which offers up to $5,000 to employers who hire unemployed Marylanders. The tax credit went into effect as of March 25, 2010, and already 51 applications have been certified by the Maryland Department of Labor, Licensing and Regulation (DLLR).

To claim the Jobs Tax Credit, employers must apply for and receive certification from DLLR that their hires meet the basic eligibility requirements. The tax credit, considered emergency legislation, will apply to qualified hires made on or after March 25, 2010 through December 31, 2010. An employer may receive a maximum credit of $5,000 for each qualified employee, up to a total of $250,000. The tax credit is available on a first-come, first-served basis, with a program limit of $20 million. Employers can apply online at www.dllr.maryland.gov.

Business representatives in local One-Stop Career Centers can help employers obtain information about the tax credit program and identify qualifying prospective employees who are being served in the career centers. Employers may reach the appropriate business representative by logging on to www.dllr.state.us/county.

For additional information on the Job Creation and Recovery Tax Credit, please call 410-767-2996 or visit www.dllr.maryland.gov.

In addition to signing the Job Creation Tax Credit bill last month, the Governor also signed a bill to modernize the State’s unemployment insurance trust fund, and maintain its solvency by leveraging federal funds. Under the Unemployment Insurance – Tax Deferment, Trust Fund Solvency, and Cost-Neutral Modernization Act, Maryland is eligible for $126.8 million in federal funds to return the UI Trust Fund to solvency at no additional cost to employers, while providing plans to help them in paying their unemployment insurance obligations.