ANNAPOLIS, MD — Governor Wes Moore today unveiled his economic growth agenda for the 2025 legislative session. The package includes budget investments and legislative proposals to strengthen Maryland’s economy and continue to build pathways to work, wages, and wealth.
Together, we have laid out an economic growth strategy that plays to Maryland's unique strengths—so we can spur business growth and build an economy that works for everyone,” said Gov. Moore. “In partnership with the General Assembly, we will make Maryland a place where businesses want to grow and thrive, create good-paying jobs in industries of the future, and connect more Marylanders with opportunity. Gone are the days of being asset-rich, but strategy poor.”
Gov. Moore’s proposed FY 2026 budget includes more than $750 million in operating and capital funding for economic and workforce development, for which $128.5 million is targeted, strategic investments to strengthen Maryland’s business climate, grow key industries and sectors, and expand the state’s talent ecosystem. According to analysis by the Jacob France Institute, these new targeted investments will generate $515.6 million in economic activity in Maryland and support 2,599 jobs earning $210.2 million in labor income. The targeted investments include:
$27.5 million to support the “Capital of Quantum” Initiative – a landmark public-private partnership between the State of Maryland, University of Maryland, IonQ, and other partners which aims to catalyze $1 billion in investments and cement Maryland as a global leader in quantum information science and technology. The investment includes $10 million to support IonQ’s planned expansion in Maryland, with a new 100,000 square foot corporate headquarters that will double their Maryland workforce to 250 employees.
$25 million for the Economic Development Opportunities Program Fund at the Department of Commerce—more commonly known as the Sunny Day Fund—which will attract major economic development and business relocation and expansion opportunities across the state.
$15 million to support Tradepoint Atlantic’s Terminal Container Project, a 168-acre redevelopment project that will generate more than $1 billion in private sector investment, produce more than 1,000 new union jobs, and strengthen the Port of Baltimore's dominance as one of the most competitive ports on the East Coast.
$10 million for the Strategic Infrastructure Revolving Fund at the Maryland Economic Development Corporation (MEDCO), which will provide short-term loans to stimulate transformative placemaking, transit-oriented development, community development and inclusive and equitable economic growth objectives, with a focus on bringing underutilized assets into performance and generating revenue.
$2.2 million in additional funding for the
Child Care Capital Revolving Fund at the Department of Commerce, which provides financial assistance for child care providers in the state, bringing the total Fiscal Year 2026 investment to $10 million.
$7.5 million to continue state support for the Downtown Frederick Hotel and Conference Center project, a public-private partnership and a transformative economic development project for the City of Frederick that is expected to generate $1.5 billion in new private sector expenditures over the next 25 years.
$7 million for the Maryland Business Ready Sites Program—which Gov. Moore established through executive order in December 2024—that will serve as a matching grant program for local governments or private developers to derisk or leverage additional public-private investment to hasten infrastructure investment. The program, which will be housed under MEDCO, will bring strategically valuable commercial or industrial sites online faster and will be available to new or expanding businesses.
$6 million for the
Maryland Manufacturing 4.0 Program at the Department of Commerce, which provides financial assistance to small and mid-size manufacturing companies to invest in Industry 4.0-related technologies, machinery and robotics, and digital business practices in order to remain competitive and drive growth.
$5 million in additional funding for the
EARN Maryland Program at the Department of Labor to support apprenticeship and workforce training programs for target industries and sectors, bringing the total Fiscal Year 2026 investment to $24.5 million.
$5 million for the
Cyber Maryland Program, designed to help address workforce vacancies in the state by helping create and build a diverse talent pipeline in cybersecurity; serve as a hub for State workforce development programs in cybersecurity; and coordinate cybersecurity and research innovation in the State.
$2 million for the
BioHub Maryland Program, a skills-first workforce development initiative of the Maryland Tech Council, with a mission to accelerate growth in the life sciences industry by expanding the state’s biopharma manufacturing talent pipeline with skills-ready Marylanders.
$2 million to Johns Hopkins University to support the construction of a new multidisciplinary design center in Baltimore, which will serve as a bridge between the university’s design-focused undergraduate curriculum, its new data science and artificial intelligence initiatives and its vision for creating an innovation and entrepreneurial hub in Remington.
$1.5 million to the Baltimore Cyber Range and the Maryland Association of Community Colleges, to build cyber ranges at Maryland’s community college campuses and boost the state’s cybersecurity workforce.
In addition to budget investments, Gov. Moore announced details about his economic growth legislative agenda.
The
DECADE Act seeks to sharpen the tools in the state’s economic development toolbox by revamping, relocating, and rebranding key business development programs. In cases where programs have not met return on investment standards, the bill repeals programs and repurposes their funding to higher impact approaches. The legislation is part of a comprehensive approach to economic development that also includes a reorganization of the Department of Commerce, the governor’s recent
executive order on economic growth, and FY 2026 economic growth investments.
The Housing for Jobs Act aims to release constraints on the state’s economic growth by addressing the largest line item on Marylanders’ budgets: housing costs. The legislation seeks to tackle the housing affordability and supply crisis by setting housing production goals when there are too few homes in a region to support available jobs. The goal of the proposal is to lower costs for Marylanders while ensuring that the state retains and builds upon our strongest asset—our highly skilled workforce.
The RAISE Act seeks to expand and create new career pathways to good-paying, middle class jobs through high-quality registered apprenticeships in Maryland. The legislation establishes the Maryland Office of Registered Apprenticeship Development, creates two new programs to help both employers and workers participate in registered apprenticeship programs and offers pathways to automatic licensure for certain apprentices.
The Procurement Reform Act seeks to modernize the state’s procurement processes to enhance efficiencies, accountability, competition, and small business access to state contracts. In doing so, the bill supports the procurement economy by creating opportunities for small businesses to win state contracts and grow. As the state continues to grow its economy, procurement reform offers a powerful lever to create merit-based pathways to success for its businesses.
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