Maryland continues to attract bio health and life sciences companies with big announcements by TCR2 Therapeutics, Ellume and Vigene in the past year. The state is now expanding its pandemic recovery by doubling down on its Opportunity Zones. Gov. Hogan says the state’s 149 zones are the most competitive in America and have already received more than $33 million in equity investments. The state is now striving to expand opportunities with more workforce training in the Appalachia region.
Advantage Maryland: Offers a variety of grants, loans and investments to support economic development initiatives.
Job Creation Tax Credit: Offers an income tax credit of up to $3,000 per new job to businesses that create at least 60 full-time jobs. Credit increases to $5,000 for location in a revitalization area.
Small, Minority and Women-Owned Business Ac- count VLT (Video Lottery Terminal) Fund: Offers loans from the proceeds of video lottery terminals to assist small, minority and women-owned businesses across the state.
Biotech/Cybersecurity Investment Incentive Tax Credit: Offers an income tax credit to investors who invest in a qualified Maryland biotechnology or cybersecuritycompany.
ExportMD Program: Offers up to $5,000 in reimbursement for expenses associated with international marketing projects for small and mid-sized businesses.
Maryland Economic Development Commission
Economic Alliance of Greater Baltimore
Ann Arundel Economic Development Corporation
Montgomery County Economic Development Corporation
The Maryland Soft Landing Program aims to match international prospects with local incubators throughout the state. It provides international companies an opportunity to test out new markets at an affordable rate with access to business resources, educational programs, mentors, advisors and networking events.
Five Fortune 500 headquarters in the state: