Governor Hogan’s Fiscal Year 2018 Budget Affirms Maryland Is Open For Business

Budget Promotes Economic Development, Encourages Businesses to Settle and Grow in Maryland

We are experiencing tremendous job growth, business growth, and an exciting economic resurgence in Maryland. Businesses are returning to – and expanding in – our state once again. Maryland truly is Open for Business. We have already accomplished a great deal. But together, we can – and we must – do more.” - Governor Larry Hogan, February 1, 2017

Expanding Opportunities For Businesses To Flourish

Fiscal Year 2018 Budget Emphasizes A Strong Commitment To Maryland’s Job Creators

The Fiscal Year 2018 Budget Continues To Invest In The Maryland Economic Development Assistance Authority And Fund (MEDAAF); The Fund Is Maryland’s Most Powerful Tool Used To Attract And Grow Businesses. (Maryland Department Of Budget And Management)

The Fiscal Year 2018 Budget Invests $7.8 Million For The Maryland Small Business Development Financing Authority To Facilitate The Development Of Maryland's Small Businesses. (Maryland Department Of Budget And Management)

The Fiscal Year 2018 Budget Invests $1 Million Toward A New Second Stage Business Incubator Program Managed By TEDCO, Will Help Start-Up Businesses Move On To The Next Level Of Development. (Maryland Department Of Budget And Management)
Governor Hogan: “This Morning The Department Of Labor Will Announce That Maryland Again Has Created Another 11,500 Jobs Just In The Month Of February, Bringing Our Total Of New Jobs Created To Over 104,000 Jobs. We Have Now, In A Little More Than Two Years, Recovered All Of The Jobs Lost By The Previous Administration. Growing The Private Sector, Creating Jobs, And Turning Our Economy Around Has Been One Of Our Primary Focuses, And We Have Had Incredible Success With It.” (Governor Hogan Remarks, Protect Our Schools Act Press Conference, 3/24/17)

Keeping Our Promise To Retain And Create Thousands Of Jobs

Fiscal Year 2018 Budget Ensures That Businesses Will Stay In Maryland For Years To Come

The Budget Sets Aside $5 Million to Uphold Governor Hogan’s Commitment To Keep Thousands Of Jobs And The Headquarters Of Marriott International, Inc. In Maryland. (Maryland Department Of Budget And Management)

The Budget Allocates An Additional $10 Million Over Two Years To Northrop Grumman Corporation As Part Of The Hogan Administration’s Commitment To Aerospace And Defense Research In Maryland. (Maryland Department Of Budget And Management)
Arne Sorenson, Marriott International Inc., President And CEO: “After A Comprehensive Review Of Many Excellent Options In Washington D.C., As Well As Arlington And Fairfax Counties In Northern Virginia, And North Bethesda, We Have Narrowed Our Search To Downtown Bethesda, An Area Which Offers Multiple Sites That Meet Our Priority Needs.” (Press Release, “Marriott Plans New $600-Million Office And Hotel Complex In Montgomery County, Maryland,” Office Of The Governor, 10/18/16)
Tom Delaney, Northrop Grumman, Corporate Responsibility And Community Media Relations: “The Sunny Day Loan Is Key To Helping Sustain Northrop Grumman’s Presence In Maryland While Also Laying The Groundwork For Future Growth.” (Michael Dresser, “Hogan, Assembly Leaders Reach Deal On Northrop Grumman, Schools Aid,”The Baltimore Sun, 11/29/16)

Cementing Maryland’s Position As A National Leader In Cybersecurity And Innovation

Fiscal Year 2018 Budget Ensures That Maryland Remains A Leader In Important Emerging Fields

The Fiscal Year 2018 Budget Invests Nearly $13 Million For Maryland To Continue To Capitalize On Its Strategic Advantages In The Biotechnology And Cybersecurity Sectors. (Maryland Department Of Budget And Management)
$12 Million Investment For The Biotechnology Investment Incentive Tax Credit. (Maryland Department Of Budget And Management)
$900,000 Investment For The Cybersecurity Investment Fund. (Maryland Department Of Budget And Management)

The Fiscal Year 2018 Budget Invests $4.8 Million For The Maryland Innovation Initiative To Promote The Commercialization Of Research At Maryland Universities. (Maryland Department Of Budget And Management)

Governor Hogan: “With Our Wealth Of Talent, Technology, And Research, Maryland Is A Premier Location For Businesses In The Cyber Arena.” (Press Release, “Electronic Technology Associates And Cyberbit Announce Baltimore Training Center,” Office Of The Governor, 9/21/16)

Providing Marylanders With The Opportunity They Need To Obtain The Skills And Tools Needed To Meet The Demands Of The 21st Century Workforce

Fiscal Year 2018 Budget Includes Important Investments In Workforce Development Programs

The Fiscal Year 2018 Budget Includes Over $28 Million In State Funds for Workforce Development Programs. These important investments in workforce development and adult learning activities, including job search and occupational skills assistance, and on-the-job and entrepreneurial training will be instrumental in ensuring that job seekers will be assets in their future employment opportunities. (Maryland Department Of Budget And Management)

The Fiscal Year 2018 Budget Doubles Maryland’s Investment In The Nationally Recognized Employment Advancement Right Now (EARN) Maryland Program From $4 Million To $8 Million. (Maryland Department Of Budget And Management)
$3 Million Of The Newly Invested Funds In EARN Maryland Will Be Used To Increase Cybersecurity And Information Technology Training Partnerships. (Maryland Department Of Budget And Management)
$1 Million Of The Newly Invested Funds In EARN Maryland Will Be Used To Focus On Workforce Training Partnerships For Tier One Green Industries. (Maryland Department Of Budget And Management)

Governor Hogan: “Maryland Has Been Recognized On A National Stage By The Urban Institute For Its Innovation In Providing Employers With In-Demand, Relevant Training Through Our EARN Maryland Program… Expanding This Initiative Will Ensure Employers Have The Talent They Need To Compete In And Contribute To Maryland’s Growing Economy.” (Press Release, “Maryland Department Of Labor Seeking EARN Maryland Workforce Proposals,” Maryland Department Of Labor, Licensing, & Regulation, 1/23/17)

Addressing Blight, And Spurring Economic Revitalization Across The State

Fiscal Year 2018 Budget Invests Toward Projects Encouraging Economic Development In Communities Across The State

The Fiscal Year 2018 Capital Budget Invests $22.1 Million Toward Governor Hogan’s Project C.O.R.E., A Bold Initiative To Address Blight In Baltimore City. (Maryland Department Of Budget And Management)
$3.5 Million Is Invested Toward Additional Strategic Demolition Programs Throughout The State And Baltimore City. (Maryland Department Of Budget And Management)

The Fiscal Year 2018 Capital Budget Invests $110 Million For Community Revitalization And Housing Projects. (Maryland Department Of Budget And Management)

$14 Million Is Invested Toward The Revitalization Of Downtown Areas In Cumberland, Hagerstown And Salisbury, To Promote Tourism And The Arts. (Maryland Department Of Budget And Management)