Maryland Governor Unveils Legislation to Boost Economic Competitiveness

Annapolis, MD – Governor Wes Moore has announced a significant legislative initiative aimed at bolstering Maryland’s economic standing, particularly within its key “lighthouse industries.” The proposed Delivering Economic Competitiveness and Advancing Development Efforts (DECADE) Act of 2026 is designed to enhance existing programs, extend successful initiatives, and introduce greater flexibility to Maryland’s economic development tools, with the overarching goal of stimulating private investment across the state.

The DECADE Act proposes several key enhancements to programs managed by the Department of Commerce. The Build Our Future Grant Program, which offers matching grants of up to $2 million to support the construction of innovative infrastructure for high-growth sectors, is slated for an extension until 2030. Furthermore, the administration of this program will be transferred to the Maryland Economic Development Corporation (MEDCO) to streamline processes and broaden access for Maryland businesses.

Another significant aspect of the proposed legislation is the revitalization of the RISE Zone Program. This placemaking initiative will also see its administration move to MEDCO, with extended zone certification and rental assistance eligibility. The Act introduces “RISE Zone Catchment Areas” to foster community development and removes restrictive eligibility requirements for start-up businesses. The program will continue to leverage higher education and federal facility assets, with a new provision for quantum-focused zones.

The Economic Development Opportunities Program Fund, which focuses on creating and retaining employment, will have its administration shifted to the Maryland Department of Commerce. This move aims to provide increased flexibility in targeting incentives for major business attraction projects within designated sectors.

To provide businesses with long-term certainty, the DECADE Act includes extensions for crucial tax credits. The Research and Development Tax Credit is proposed to be extended to 2031, while the Employer Security Clearance Cost Tax Credit, which offers income tax credits to small Maryland businesses engaged in security-based contract work, would be extended until 2032.

In an effort to attract larger film productions and enhance the state’s film industry, the legislation proposes eliminating the $10 million per-production cap on the Film Production Activity Tax Credit. This change is expected to encourage bigger productions, leading to increased hiring of Maryland residents and greater engagement with Maryland businesses, thereby amplifying the economic impact.

The legislative proposals build upon the Moore-Miller Administration’s prior successes, which attracted over $10 billion in private investment last year. In 2025 alone, the Maryland Department of Commerce allocated nearly $174 million in funding, contributing to the creation and retention of more than 4,800 jobs. The administration has also focused on promoting lighthouse industry growth through initiatives such as an international trade and investment mission to Asia, attracting foreign quantum companies through a partnership with the University of Maryland’s Quantum Foundry, and securing collaborations with Microsoft and DARPA for the $1 billion Capital of Quantum Initiative. Notable private investments include a $2 billion expansion by AstraZeneca for manufacturing and clinical facilities, and Samsung Biologics’ plans to retain and create jobs in Rockville.

Article by Mel Anara, based upon information from the Office of Governor Wes Moore.

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