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TEDCO CEO and Partners Urge Keeping Equitec and MII Funding as DLS Recommends Cuts for FY27
Summary
DLS recommended reductions to several TEDCO programs in the FY27 allowance—particularly Equitec Growth Fund and MII extension funding—while TEDCO CEO Troy Stovall, MII leadership and regional partners urged legislators to preserve or restore funding, citing jobs, training and follow‑on private capital.
The Department of Legislative Services presented a $52.0 million fiscal 2027 allowance for the Maryland Technology Development Corporation (TEDCO), a decline of about $1.4 million driven by decreases in general fund support. DLS noted that certain programs are level‑funded (for example, the Maryland Stem Cell Research Fund at $15.5 million) while recommending reductions in others, including reducing the Equitec Growth Fund from $5 million to $3 million and cutting or deleting some grants tied to federal match…
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