Governor at construction site.
Creating Jobs, Expanding Opportunities

A Balanced Approach To Create Jobs

JobsLast year, the people of our State achieved our greatest year of new job creation since 2005. Together, we created 30,300 new jobs--nearly two times more jobs than our neighbors in Virginia.

The FY2013 budget is balanced between nearly $800 million in cuts to state spending and modern investments that will support nearly 37,000 jobs and help spur the creation and retention of 15,000 more.

Rental housing construction siteCreating Jobs By Rebuilding Our Infrastructure

Investing in 21st century infrastructure for Maryland creates jobs and prepares our schools, transportation infrastructure and more for the future. The FY 2013 budget will support over 37,000 jobs with stategic investments in school construction projects and initiatives like the new Rental Housing Works project.

Investing in Our People

The FY2013 budget will fully fund K-12 Education, keep college tuition affordable and continue record investments in our Community Colleges. It includes $64.8 million to be used for workforce development initiatives like "Skills2Compete" and Maryland's 35 One-Stop Career Centers. The budget also includes $1,250,000 to support summer jobs for more than 1,000 Maryland youth through the YouthWorks Program, based in Baltimore City and $13.3 million for Adult Education Initiatives. Governor tours bio park

FY2013: Strategic Investments to Create Jobs

$10.4 million to continue the State’s investment in Stem Cell Research

• $8 million in biotechnology tax credits to leverage private investment in Maryland’s biotech companies

• $3.5 million for the Maryland Biotechnology Center to support biotechnology commercialization and translational research.

• $27.2 million to support Maryland’s high-performing tourism, hospitality and arts industries and a $2 million FY 2012 deficiency to bolster promotions for Maryland’s War of 1812 bicentennial celebration

• $7.5 million for tax credits to capitalize on our continuing success promoting Maryland as a premier film production destination

• $7 million for Sustainable Communities tax credits that revitalize Maryland’s Main Streets and create jobs, benefitting small businesses and communities

• $1.1 million for the second year of a conditional loan to Bechtel Corporation that retains a minimum of 1,250 high-paying jobs for Maryland through 2018

• $1.4 million to support Base Realignment and Closure (BRAC) activities

• $409,000 to launch an initiative that promotes Maryland’s aerospace industry and to advance the rapidly-growing cybersecurity sector.

•$56.7 million to bring high-speed broadband links to more than 1,000 government facilities and community "anchor institutions"

Maryland Ranks

  • 1st – Maryland Public Schools – Education Week Magazine
  • 1st – Federal research and development investment per capita
  • 1st – Concentration of employed doctoral scientists and engineers
  • 2nd – Leveraging science and technology to promote economic development - Milken Institute
  • 3rd – For ability to compete and win in the new economy - Kauffman Foundation
  • 5th – Enterprising States for Economic and Job Growth - US Chamber of Commerce
  • 12th – Lowest Tax Burden on New Investment – Ernst & Young

Job Stats

  • Last year, Maryland created 30,300 new jobs, the largest January-December job growth since 2005 and twice as many as neighboring Virginia.
  • 98.5% of Maryland's job growth came from the private sector compared to only 30% in Virginia.
  • Maryland's recovery is outpacing the nation at 45% recovered, compared to only 30% nationally.
  • Maryland's unemployment rate has fallen to 6.7%, 1.8 percentage points below the national average.
  • For the 4th year in a row, Education Week has named Maryland's public schools #1 in the nation.
  • Maryland remains one of only 9 states to maintain a Triple A bond rating.

 

“To create jobs, a modern economy requires modern investments.”

- Governor O’Malley