Sign In
Upcoming Event
Free Newsletter
MD tax incentive programs supported 24K jobs in FY2025, report finds
Gov. Wes Moore gave his fourth State of the State address Wednesday, Feb. 11, 2026, in the State House in Annapolis. (Office of the Governor)
MD tax incentive programs supported 24K jobs in FY2025, report finds
Listen to this articleGov. Wes Moore announced Friday that finance and tax incentive programs at the Maryland Department of Commerce aided approximately 24,000 direct, indirect and induced jobs during fiscal year 2025.
“Our incentive programs are delivering real results — empowering local entrepreneurs, investing in our workforce, and giving companies a reason to grow right here in Maryland,” Moore, a Democrat, said in a statement. “As we head into the next fiscal year, we’re doubling down on building new pathways to work, wages, and wealth for all.”
The 2025 Consolidated Incentives Performance Report released in January found that support for the bulk of the new and retained jobs during fiscal year 2025 came from five Department of Commerce programs: Advantage Maryland; the Job Creation Tax Credit; More Jobs for Marylanders; the Partnership for Workforce Quality; the Small, Minority and Women-Owned Business Account Video Lottery Terminal Fund; and the Research and Development Tax Credit.
The Research and Development Tax Credit doled out the most recipient awards.
Over 830 Maryland businesses participated in these programs, which invested $434 million in private capital to projects statewide in fiscal year 2025.
Among the industries that created and retained the most jobs through these programs during the 2025 fiscal year were manufacturing, which created 8,460 positions, retail trade, which created 944 jobs, and the professional, scientific, and technical services sector — which includes jobs in research, biotechnology and cybersecurity — established 894 positions.
“From agriculture and forestry specialists to military veterans turned entrepreneurs, the State of Maryland is dedicated to providing financial incentives for every type of business,” Harry Coker, Jr, the secretary of the Department of Commerce, said in a statement Friday. “Our goal is to offer programs that not only benefit companies doing business in Maryland, but to also provide the state with the best possible return-on-investment.”
