Highlights creation of new Cybersecurity Tax Credit
Announces Director of Cyber Development to bolster Maryland’s efforts as the epicenter of cybersecurity
HANOVER, MD – Governor Martin O’Malley today promoted the Administration’s efforts to create jobs in cybersecurity and fuel Maryland’s Innovation Economy during a tour at KEYW – one of more than 11,000 dynamic and thriving Maryland companies that lead the development of new products and services to protect the nation from the growing threat of cyber attacks.
“Creating jobs is our top priority,” said Governor O’Malley. “The most important assets we have to make Maryland the epicenter of cybersecurity and expand our Innovation Economy are the talents, skills, education, and creativity of our people. That’s why, together, we’re focused on making our schools, community colleges, and public universities as strong as they can be; expanding partnerships among businesses, government, research and academic institutions; and leveraging our close proximity to the nation’s capital.”
In the proposed FY2014 budget, the Governor unveiled a $3 million investment to create a new Cybersecurity Tax Credit to leverage Maryland’s assets for job creation, opportunity, and economic growth. Designed to stimulate private investment in early-stage cybersecurity technology companies in Maryland, the program is modeled after the highly-successful Biotechnology Investment Incentive Tax Credit, and provides a 33 percent refundable tax credit for qualified investors in seed- and early-stage cybersecurity companies.
Today, Governor O’Malley also announced Jeani Park as Maryland’s Director of Cyber Development. Park will lead the Administration’s efforts to position Maryland as the epicenter of cybersecurity activity, supporting product development, education and talent; working to attract new cyber companies and investors to Maryland; encouraging the continued expansion of cybersecurity programs and assisting start-up cyber firms. Next week, Park will lead the CyberMaryland delegation – comprised of academic, private sector and government partners – to San Francisco for RSA, the nation’s leading cybersecurity conference.
The Governor added, “We are fortunate to have someone with Jeani’s experience, expertise and insight to help guide Maryland’s cyber initiative and continue the growth of innovation in our State. Given her background as a successful technology professional who has worked in Silicon Valley and Austin, she will be instrumental in supporting entrepreneurs and building the pipeline for cyber venture capital deals tied to InvestMaryland.”
Park will also work with Gaithersburg-based National Institute of Standards and Technology (NIST) to develop the National Cyber Center of Excellence, and coordinate the third annual CyberMaryland Conference in October with the Federal Business Council and other partners.
Park’s professional career has been focused in commercial cybersecurity. She has played a key role in Original Equipment Manufacturer (OEM) partnerships, joint development projects and technology acquisitions that drove revenue and strategic value. She has a successful track record of spearheading product strategy, product management and product marketing for companies such as Hewlett Packard, Access 360, Dell, Trend Micro, Mirage Networks, Extreme Networks, and SpectorSoft. She earned a B.S. in Industrial Engineering from Northwestern University and an M.B.A. from Vanderbilt University. She is active in the cybersecurity educational organization Infragard.
Governor O’Malley and Michigan Governor Rick Snyder lead the National Governors Association (NGA) Resource Center on Cybersecurity. This weekend, the Governor will take Maryland’s cyber agenda to the nation’s capital at the NGA Winter Meeting.
The O’Malley-Brown Administration maintains an aggressive cybersecurity agenda. Maryland has been named #1 in the nation for Innovation and Entrepreneurship by the U.S. Chamber of Commerce. Today, Maryland has the eighth fastest job recovery rate in the nation and remains a global leader in high-growth industries like life sciences and cybersecurity. Through the Maryland Innovation Initiative, InvestMaryland and the Maryland Venture Fund, Maryland’s businesses continue to grow and remain on the cutting edge of innovation and technology. Fifteen Maryland colleges and universities – more than any other state – have been designated Centers for Academic Excellence by the National Security Administration and the Department of Homeland Security. In 2012, more than 3,300 students graduated from Maryland colleges and universities with degrees in Computer and Information Science- a nearly 11 percent increase since 2006.
Launched in January 2010, the CyberMaryland initiative brings together federal, state and local government; private businesses; academia; and workforce to address challenges to the security of our nation’s digital infrastructure, reinforce Maryland’s leadership in cybersecurity and information technology, and help the state fulfill its responsibility to support the nation’s cybersecurity mission while maximizing the benefits to and opportunities for Maryland. For more information, visit www.CyberMaryland.org or follow @CyberMaryland on Twitter.