More Jobs for Marylanders Act
The Hogan Administration has focused on restoring Maryland’s economy and putting more people to work. During the 2017 Maryland Legislative Session, the cornerstone of Governor Larry Hogan’s Job’s Initiative passed with unanimous support, a bill that takes an important step in incentivizing and encouraging manufacturers to create jobs in the areas of the state that need them most. Under More Jobs for Marylanders Act of 2017, incentives are offered for 10 years for the creation of family-supporting wages and workforce development programs. The incentives include income tax credits, property tax
credits, a sales tax refund and exemption from SDAT corporate filing fees. Statewide, manufacturers are eligible for income tax benefits.
Manufacturers located in jurisdictions with highest unemployment rates are provided increased benefit in Tier 1. These counties are defined in statute as Qualified Distressed Counties—Allegany, Dorchester, Somerset, Worcester Counties and Baltimore City, as outlined by Bureau of Labor Statistics and Bureau of Economic Analysis data. Commerce designated three additional Tier 1 counties: Baltimore, Prince George’s and Washington.
More Jobs for Marylanders benefits manufacturing activities in all jurisdictions by allowing faster depreciation of new capital investments, thereby freeing up capital more rapidly for companies to hire new employees and reinvest in their business operations.