ANNAPOLIS, Md. (AP) — Department of Business and Economic Development officials say about 80 companies have qualified for state job-creation tax credits after hiring from Maryland’s unemployment rolls.
But officials are working to get more businesses to take advantage of the “Job Creation and Recovery” program, which offers a $5,000 credit for each worker.
The state set aside $20 million for the effort, which expires at the end of the year. But so far, just $725,000 has been approved for 145 hires.
In the first three months that the credits have been available, almost half the credits were claimed by construction companies and contractors. Manufacturers and retailers and wholesalers are also heavily represented.
The state’s business development and regulatory agencies have launched an effort to promote the tax credit.
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