They say it takes money to make money. Maryland opens doors to funding sources for spurring innovation, expanding workforce, modernizing manufacturing equipment, improving infrastructure, and more. From dedicated programs for small, minority, and women-owned businesses, to programs designed to increase investment in tech startups, and programs that reward businesses for energy efficiency, Maryland offers a variety of financial incentives.
Maryland’s Financial Incentives
Explore what tax credits, grants and loans Maryland offers business.
Check out these funding programs from the Maryland Department of Commerce.
Build Our Future Grant
Provides matching grants of up to $2 million to projects that demonstrate a transformative impact in accelerating growth and innovation in various technology sectors.
Helps to offset some of the costs of marketing internationally for Maryland’s small and mid-sized companies, providing up to $5,000 in reimbursement for expenses associated with an international marketing project.
Provides grants to small and mid-sized Maryland manufacturers to invest in Industry 4.0-related technologies, machinery and robotics, and digital business practices in order to remain competitive and drive growth.
It’s true that in terms of basic business tax rates, we aren’t the lowest. But business tax rates alone don’t tell the whole story of a state’s economic activity. That’s why economic analysts at Ernst & Young calculated what it calls a “total effective business tax rate”—the ratio of business taxes to private sector gross state product. By that metric, Maryland ranks in the top 10 of states with the lowest total effective business tax rate.
And you can’t deny the impact that quality of life has on attracting and retaining talent.
