Companies create Maryland jobs
Posted on November 5, 2018
Many companies are expanding and creating Maryland jobs.
In just over one year since the launch of the More Jobs for Marylanders program, 124 companies have indicated that they plan to either locate in Maryland or expand within the state to benefit from the program. Of those companies, which include firms both from Maryland and other states, 49 have filed official enrollment applications and are projecting to create nearly 2,000 jobs in total. Also, the program has been expanded to include five additional counties where manufacturers creating new jobs will receive the highest benefits.
“In its first year, this highly successful program has done exactly what it was designed to do: attract and grow businesses, create jobs, and put people to work,” said Governor Hogan. “Now, with the expansion of More Jobs for Marylanders to five additional jurisdictions, our administration will continue to further our goal of bringing job and business growth to the areas that need it most.”
The More Jobs for Marylanders Act was the centerpiece of Governor Larry Hogan’s 2017 Maryland Jobs Initiative and incentivizes manufacturers to create new jobs in the state. New manufacturers that locate in targeted jurisdictions 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.
Legislation adopted in the 2018 session of the Maryland General Assembly altered the qualification criteria and expanded the roster of targeted jurisdictions, known as “Tier 1 counties.” That list now includes Baltimore City and Allegany, Caroline, Dorchester, Garrett, Kent, Somerset, Wicomico, Washington, and Worcester Counties. Three additional jurisdictions—Baltimore County, Prince George’s County and, as of this month, Cecil County—have also been designated as “Tier 1 counties” at the discretion of the Secretary of Commerce.