Governor Coker outlines Maryland's economic growth strategy and DECADE Act proposals

In a recent meeting of the Maryland General Assembly's Economic Affairs Committee, Secretary Coker emphasized the importance of collaboration in addressing the state's pressing economic challenges. "Partnership produces progress," he stated, highlighting the need for collective efforts to tackle the fiscal difficulties Maryland faces, which have been exacerbated by national issues.

Coker outlined the governor's legislative agenda, which includes the DECADE Act and the fiscal 2026 budget proposal aimed at addressing structural economic problems that have persisted for years. He pointed to Maryland's unique assets, such as federal agencies, military installations, and top-tier educational institutions, as crucial components in driving economic growth. "We need to leverage all that talent," he urged, calling for investments in emerging sectors he referred to as "lighthouse sectors," which are essential for guiding Maryland's economic future.

The proposed budget includes significant funding allocations, such as $6 million for the Maryland Manufacturing 4.0 program and $10 million for innovation infrastructure projects. Coker stressed that while these investments are vital, the state will not neglect its foundational sectors, including agriculture and tourism, which also play a critical role in job creation.

Coker also discussed the DECADE Act's provisions for modernizing the state's economic development toolkit, including enhancing tax credits and streamlining programs to better align with Maryland's long-term economic goals. He acknowledged the need for flexibility in targeting industries and emphasized the importance of accountability in measuring success through job retention and creation.

As the meeting concluded, Coker expressed a desire for ongoing dialogue with local governments and stakeholders, inviting their insights to improve Maryland's economic landscape. "The door is always going to be open," he assured, reinforcing the administration's commitment to collaboration in fostering a thriving economy for all Marylanders.