Legislation To Finance Business Grants Through Tax Credits Coming This Year

Department of Business and Economic Development Secretary Christian Johansson hopes to help businesses grow this year through a model that sells tax credits and uses the funds generated as grants to growing companies.
The program, called Invest Maryland, leads the list of DBED’s initiatives for the new year, Johansson told a group of reporters last month. It will be proposed in legislation to set up the program in this year’s General Assembly. Johansson said that this program will help Maryland grow economically from the inside – something that Maryland is in a unique position to be able to do, but has not been doing effectively enough.

“The states who do better are the ones who do organic growth better,” he said. “We are trying to be as creative as we can.”

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