Three new counties targeted for the program which is projected to bring 2,000 manufacturing jobs to Maryland.
The More Jobs for Maryland program is off to a running start with the Maryland Department of Commerce sharing that 124 companies have expressed interest in the program with 49 having submitted official applications that collectively project nearly 2,000 new jobs in the state. The program aims to stimulate manufacturing jobs in Maryland.
From the Maryland Department of Commerce:
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.
Companies applying to the program range from manufacturers of metal, food, adhesives, wood, and other products, and represent the potential for hundreds of new jobs, particularly in areas of the state where unemployment is high.
The article notes that Secretary of Commerce has designated three additional counties — Baltimore, Prince George’s, and Cecil — as Tier 1 counties. Tier 1 counties are targeted jurisdictions under the legislation that created the program and subsequent legislation that altered it. The others include Baltimore City and Allegany, Caroline, Dorchester, Garrett, Kent, Somerset, Wicomico, Washington, and Worcester counties.
Visit the Maryland Department of Commerce for more information.