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Rebuilding and Restoring

These past few days have not been easy. We still have Marylanders without power and families with homes that have been destroyed by mother nature. But utility crews continue to work around the clock, our Insurance Administration is ready to help families with claims and we continue to work with our federal and local partners to help Marylanders in need. We’re making progress, but won’t rest until every community is fully restored.

But even as we rebuild and restore our communities from an uncontrollable natural disaster, we also remain focused on spurring economic development to create and save jobs.

This morning, we kicked off the inaugural meeting of the Maryland Venture Fund Authority—a group that will oversee our new InvestMaryland initiative.

InvestMaryland is the single largest infusion of Venture Capital into our State’s economy—an infusion that will create thousands of jobs and spur millions of dollars in economic development.

To create jobs, a modern economy requires modern investments.  We have more Ph.D scientists and engineers per capita than any other state in the nation.  We rank #1 in federal research and development investments per capita.  The U.S. Chamber of Commerce listed Maryland as one of the top five states for growth. The Milken Institute says we are one of the top two states for science and technology, and the Kauffman New Economy Index ranks us among the top three.

Together, we know that when we harness the potential of our federal labs, universities and industries, we help them translate their new ideas into new products, new services and new businesses. But most importantly, we know that we help them create jobs.

We cannot control the occurrence of natural disasters. We can be prepared, we can be resilient and we can implement effective systems that help us bounce back from disasters are quickly as possible—and working together, we’ve made progress over the past few years to become even more resilient. But we can’t control natural disasters.

What we can control is what we choose to invest in as a people. Through InvestMaryland we are making investments that rebuild and restore our economy, creates and saves jobs and spurs economic development. I look forward to working with the new Board to move us forward to better economic days and a stronger future for our children.