Hogan’s Economic Plans for 2018 Include Investing in Science and Technology

Governor Larry Hogan announced his plans for economic growth and job development for Marylanders in 2018.  His initiatives include investing in STEM-related (Science, Technology, Engineering, Math) industries and expanding the More Jobs for Marylanders Act with new legislation.

Back in 2017, the More Jobs for Marylanders Act was passed to give manufacturing companies tax credits for creating jobs in areas with high unemployment.

The new legislation will build on the previous measure by expanding the reach of the program to additional jurisdictions which includes Garrett, Caroline, Kent, and Wicomico Counties, and allowing all eligible jurisdictions to select up to three industries or sectors in addition to manufacturing, where the tax credits would be applicable.

Hogan also said he plans to create new initiatives to expand growth in what he called “Maryland’s leading industries,” including cyber-security and life sciences by launching a $33 million partnership with the University System of Maryland to increase degrees awarded in STEM-related fields.

Lastly, Hogan announced a new partnership between the state, Johns Hopkins University, Cognate Bioservices, and Forest City to invest $17 million to establish the Maryland Center for Cell Therapy Manufacturing in Baltimore City. With the new partnership, Hogan plans to make Maryland a world leader in the regenerative medicine industry.

“We are continuing our focus on jobs, jobs, jobs,” Hogan said in a statement. “We are providing the job training needed to increase the number of qualified and skilled job candidates right here in Maryland, and we are working to address current industry demand to help our businesses and our economy continue to grow.”

To learn more about Hogan’s initiatives, click here. 

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