Jobs initiative for Maryland
Posted on May 6, 2017
The state recently announced a new jobs initiative for Maryland.
The Maryland Jobs Initiative is a comprehensive legislative package that will provide incentives for the creation of thousands of jobs and $5 million in strategic investments in education and workforce training to put even more Marylanders back to work.
As the centerpiece of this initiative, the governor announced the More Jobs for Marylanders Act, a proposal to create thousands of jobs and attract businesses by eliminating all state taxes for ten years for new manufacturing employers that create jobs in high unemployment areas. The legislation will also include tax incentives for current employers who expand their workforce in these areas, including Baltimore City, where the governor made this announcement at the Living Classrooms Foundation’s education and job-training facility in Baltimore’s Perkins Homes neighborhood.
“We are very excited about this Maryland Jobs Initiative which will help us create thousands of jobs, particularly in those areas of our state where we desperately need them the most,” said Governor Hogan. “There should be very broad bipartisan support for these common sense, job-creating proposals. We look forward to working closely together with our local partners and with our colleagues in the legislature to make this Maryland Jobs Initiative program a reality.”
The governor was joined by Lt. Governor Boyd Rutherford, Maryland Department of Labor Secretary Kelly Schulz, Commerce Secretary Mike Gill, Baltimore City Senator Nathaniel McFadden, Baltimore City Mayor Catherine Pugh, and Baltimore City Council President Jack Young for the announcement.
The governor’s 2017 Maryland Jobs Initiative include the following proposals:
More Jobs for Marylanders Act: As the centerpiece of Governor Hogan’s Maryland Jobs Initiative, this proposed legislation will to create thousands of jobs where they are needed most by eliminating all state taxes for ten years for new manufacturing employers that create jobs in high unemployment areas. To encourage existing Maryland manufacturers to add more jobs in these targeted employment zones, the governor’s proposal provides a tax credit for any new jobs they create. It also enables these companies to accelerate the deductions of their capital assets to free up capital for investment in new technology needed to create the jobs of the future. Qualifying jurisdictions currently include Baltimore City and Allegany, Dorchester, Somerset, and Worcester counties.