Helping Communities Shine

Whether researching and implementing ways to shape a community's economic development plan or partnering to create ways to put people to work, CREC connects researchers and policymakers with:

     • Data training
     • Custom portfolios that aid regional competitiveness

Project Profile

Maryland Economic Development Incentives and Financing Study

Maryland Department of Commerce and Maryland Economic Development Corporation
Start Date: Jul 2015 — End Date: Jan 2016

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.

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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 […]

Project Updates

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.