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 financial incentives to business. It also advises the state secretary of commerce on regulations for financing programs and on the allocation of financial incentives.
Maryland Economic Development Incentives and Financing Study
Start Date: Jul 2015 — End Date: Jan 2016
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, and (6) job […]
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.