During a press conference earlier this week, Senate President Mike Miller and House Speaker Mike Busch announced the first set of recommendations from the Maryland Economic Development and Business Climate Commission. The Commission, chaired by former Lockheed Martin Chief Executive Officer Norm Augustine, was formed last year to develop recommendations to improve the State’s business climate.
As reported by the Baltimore Business Journal,
All the data fits into the Mission State House leaders assigned to the commission last year: Gauge Maryland’s business climate and find ways to improve it. You’ve probably seen the immediate reports on some of its recommendations, like establishing a secretary of commerce to oversee all of the state’s economic development efforts that are housed in disparate agencies.
They all fall under a main thesis, which is that the state hasn’t reached its potential for growing businesses and creating jobs.
“The potential to enhance economic development, business growth and job creation in Maryland is immense,” said the report’s introduction signed by Augustine. “However, the challenges are also significant, particularly in view of the state’s current budget environment.”
The article continues to highlight the 10 main findings of the Commission. In addition, five pieces of legislation will be introduced to implement some of these findings. Details of which can be found in the joint press release from the Senate President and House Speaker.
The Commission will continue its work into the fall of 2015 and examine the State’s business tax and incentive structure.