Hogan signs More Jobs Act of 2017, includes tax reliefManufacturing businesses offered credits for growing employment with training
(April 14, 2017) Gov. Larry Hogan signed the More Jobs for Marylanders Act of 2017 on Tuesday, which offers tax credits for specified manufacturing businesses if they increase employment and offer job training.
The bill also establishes tax credits for businesses that employ an eligible apprentice, scholarships for students in a job skills program at community college, requires vocational goals to be set for high school students and requires the state to track the apprenticeship programs.
“The More Jobs for Marylanders Act of 2017 is an incredible piece of legislation that targets the manufacturing industry with an offering of state level tax credits,” Merry Mears, county director of economic development said. “This legislation encourages job growth in our county, and it’s entirely possible that we may see a resurgence of the manufacturing industry here.”
According to the non-partisan analysis of the bill by the state’s department of legislative services, local income tax and highway user revenues take a hit of $27,000 next year, and by almost $1 million in 2022.
The analysis states the law could create mandated spending by the local jurisdictions.
“Since day one the focus of our administration has been on restoring Maryland’s economy and putting more people to work. We have already seen incredible success – we have added nearly 105,000 new jobs and lowered unemployment to 4.2 percent,” Hogan said in a release on Tuesday. “This morning we are taking the next important step by signing the More Jobs for Marylanders Act, which will incentivize and encourage manufacturers to create thousands of jobs in the areas of the state that need them the most, like Baltimore City, Western Maryland, and the Lower Eastern Shore, while also offering benefits to both workers and job creators across the state.”