ANNAPOLIS — Gov. Larry Hogan has announced a series of new initiatives to spur job creation and economic growth in Maryland and further establish the state’s leadership in key STEM-related (Science, Technology, Engineering, Mathematics) industries.
Hogan pledged to introduce new legislation in the upcoming session to expand on the More Jobs for Marylanders Act, which was passed in the 2017 session and went into effect June 1. The program incentivizes manufacturing companies to create jobs in areas with higher unemployment by providing a tax credit for each new job created.
The new legislation, the More Jobs for Marylanders Act 2.0, will expand the reach of the program to additional jurisdictions, including Garrett, Caroline, Kent, and Wicomico counties, and allow all eligible jurisdictions to select up to three industries or sectors in addition to manufacturing where the tax credits would be applicable. This will give jurisdictions the ability to leverage their unique economic development goals and strengths to create even more jobs. The expanded program will also increase the available funding for tax credits from $9 million to $15 million.
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5 comments:
Amazon!
Government incentives take from taxpayers and give to politically favored industries. It ends up being a breeding ground for corruption and failed programs.
Just more same ole BS . . . talk and no action.
Pols need to just admit they have failed and are out of ideas.
Anyone can use someone else's money to pay for jobs!
If Governor Hogan really cared, he would make a declaration - the whole eastern shore is an economic disaster zone and ask President Trump for immediate help.
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