September 28, 2026 | Maryland Business News
Maryland is using Economic Development Week to put a spotlight on financial programs that can help businesses start, grow and expand across the state.
Economic Development Week runs from September 28 through October 2. During the week, the Maryland Department of Commerce is highlighting financial assistance available to businesses for projects such as expansion, equipment purchases, employee training and entering international markets.
According to the Maryland Economic Development Association, the state offers a wide range of programs designed to help businesses access capital and reduce some of the costs associated with growth.
For Maryland business owners, this could be important because finding money to expand can be one of the biggest challenges facing a growing company. Programs offered through the state include grants, loans, loan guarantees, tax credits and other forms of financial assistance.
The Maryland Department of Commerce has also created a Business Growth Guide to make it easier for companies to identify programs that may fit their needs. The guide allows businesses to search for funding based on factors such as industry, business stage, location and other business characteristics.
Some programs are designed specifically to support job creation. Maryland's Job Creation Tax Credit, for example, provides an income tax credit to eligible businesses that create a required number of new full time jobs. The credit can be higher for businesses located in certain revitalization areas.
Small businesses can also find financing through the Maryland Small Business Development Financing Authority. The program can help eligible businesses with expenses including working capital, equipment, supplies, real estate and improvements to business locations.
Maryland has also made changes to several economic development programs this year. The state's DECADE Act of 2026 increased the maximum amount of financial assistance available through some programs and expanded opportunities for businesses seeking financing. The legislation also extended several tax credit programs.
Prince George's County businesses may have additional opportunities depending on where they are located. For example, the state currently has a RISE Zone covering the Greater College Park area. Businesses that qualify can potentially receive property and income tax benefits tied to investment and job creation.
The state's economic development programs are not automatic grants for every business. Eligibility requirements vary by program, and some programs require applications, certifications, job creation or specific types of investment.
Still, Economic Development Week provides a timely reminder for Maryland business owners to look beyond traditional bank financing when planning their next stage of growth.
For companies considering a new location, hiring employees, purchasing equipment or expanding operations, understanding the financial programs available through the state could be an important part of the planning process.
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