Busch says tax credit for cybersecurity may expand

Published on NewsOK Modified: December 31, 2013 at 5:45 am •  Published: December 31, 2013

ANNAPOLIS, Md. (AP) — Maryland lawmakers will look at the possibility of expanding a tax credit aimed at boosting jobs in the growing cybersecurity industry around the nation's capital, House Speaker Michael Busch said.

Busch, D-Anne Arundel, said in an interview Monday with The Associated Press that a work group is due to submit recommendations soon on how to meet the growing demand for jobs in the field. The task force is being led by University System of Maryland Chancellor Britt Kirwan and Robert Hannon, a former head of the Anne Arundel County Economic Development Corporation.

Maryland lawmakers approved a small tax credit to help develop the industry in the state last year.

"We're going to look at the possibility of expanding the tax credit and incentives for that," Busch said. "Any directions that we can get from the task force that might require legislative initiatives, we want to do that."

Busch said he hopes a separate work group of House members that has focused on enhancing the state's business climate has laid the groundwork to take advantage of incentives to increase jobs in cybersecurity. The speaker said Kirwan has told him the state can't get enough people through graduate and undergraduate programs to fill available jobs in cybersecurity now.

"So I think there is a wealth of opportunity," Busch said. "You know, Fort Meade now has become the largest employer of the state. You have the National Business Park, which is right next to it. Between the two of them, there are 70,000 employees."

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