Maryland Economic Development Incentives and Financing Study
The Center for Regional Economic Competitiveness (CREC) conducted an in-depth examination of 12 Maryland state incentive and financing programs in six categories. Those included
(1) place-based tax credits
(2) investment tax credits
(3) incentives to attract or retain large employers
(4) small business lending and investment programs
(5) credit enhancement and financing programs for small and mid-sized firms
(6) job creation credits or funding for workforce development programs
CREC provided analysis of previous performance reports related to those programs, compared those efforts with other states, and provided recommendations for enhancements or improvements. The recommendations were used to guide executive and legislative efforts to re-examine the state’s mix of business incentives and financing programs.
About the Client
Maryland Department of Commerce and Maryland Economic Development Corporation
The Maryland Economic Development Commission was formed first by the governor and then by statute in 1995. It establishes economic development policy and, since October 2015, oversees the Department’s operations, including its efforts to attract and retain businesses and jobs in Maryland. From the private sector, the commission raises funds to supplement economic development programs and […]
CREC Testifies Before Maryland House Appropriations Subcommittee in Annapolis, Maryland
February 4, 2016
Ken Poole testified at a hearing before the Maryland House Appropriations Subcommittee on Education and Economic Development on a study recently completed on Maryland’s economic development finance programs.