Garrett & Wicomico County included in job development initiative
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Title : Garrett & Wicomico County included in job development initiative
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Title : Garrett & Wicomico County included in job development initiative
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news-today.world | ANNAPOLIS — Gov. Larry Hogan has announced a series of new initiatives to spur job creation and economic growth in Maryland and further establish the state’s leadership in key STEM-related (Science, Technology, Engineering, Mathematics) industries.
Hogan pledged to introduce new legislation in the upcoming session to expand on the More Jobs for Marylanders Act, which was passed in the 2017 session and went into effect June 1. The program incentivizes manufacturing companies to create jobs in areas with higher unemployment by providing a tax credit for each new job created.
The new legislation, the More Jobs for Marylanders Act 2.0, will expand the reach of the program to additional jurisdictions, including Garrett, Caroline, Kent, and Wicomico counties, and allow all eligible jurisdictions to select up to three industries or sectors in addition to manufacturing where the tax credits would be applicable. This will give jurisdictions the ability to leverage their unique economic development goals and strengths to create even more jobs. The expanded program will also increase the available funding for tax credits from $9 million to $15 million.
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Hogan pledged to introduce new legislation in the upcoming session to expand on the More Jobs for Marylanders Act, which was passed in the 2017 session and went into effect June 1. The program incentivizes manufacturing companies to create jobs in areas with higher unemployment by providing a tax credit for each new job created.
The new legislation, the More Jobs for Marylanders Act 2.0, will expand the reach of the program to additional jurisdictions, including Garrett, Caroline, Kent, and Wicomico counties, and allow all eligible jurisdictions to select up to three industries or sectors in addition to manufacturing where the tax credits would be applicable. This will give jurisdictions the ability to leverage their unique economic development goals and strengths to create even more jobs. The expanded program will also increase the available funding for tax credits from $9 million to $15 million.
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You are now reading the article Garrett & Wicomico County included in job development initiative With link address https://newstoday-ok.blogspot.com/2018/01/garrett-wicomico-county-included-in-job.html