Last year, Maryland’s $8.5 billion bid to attract Amazon’s second headquarters to the state resulted in embarrassment as the state lost out to neighboring Virginia. Despite this, Maryland continues to rely on targeted tax breaks to attract jobs.
Maryland offers a wide range of tax incentive programs that vary in design and scope. Its “Job Creation Tax Credit ” provides a total of $4 million in credits for businesses that create new jobs in the state. It also has a separate $12 million fund for biotechnology jobs, and awards film producers tax credits that cover up to 25% of the production costs incurred in Maryland. The list goes on.
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