What it is

The Maryland Department of Commerce describes itself as the state's lead economic development agency. It helps existing Maryland companies expand, recruits new companies and investment, promotes Maryland to businesses, workers and visitors, supports the tourism and arts sectors, and builds ties with federal agencies and military installations. Its headquarters is at 401 E. Pratt Street in Baltimore.

What it offers founders

For startups, the most relevant part of Commerce is its financial incentives, which fall into three groups:

  • Tax incentives: programs include the Biotechnology Investment Incentive Tax Credit (BIITC), a refundable credit for investors who put at least $25,000 into a qualified Maryland biotech company with fewer than 50 full-time employees, and the Research and Development Tax Credit, which equals 10% of eligible Maryland R&D spending above a base amount and includes a separate pool for small businesses. Others include the Buy Maryland Cybersecurity Tax Credit, Job Creation Tax Credit and One Maryland Tax Credit.
  • Grants: examples include the Partnership for Workforce Quality (PWQ), which reimburses up to 50% of qualified training costs for small and mid-sized manufacturing and technology employers, plus the Maryland E-Nnovation Initiative Fund, ExportMD, Global Gateway and Maryland Manufacturing 4.0.
  • Loans and financing: programs include Advantage Maryland (MEDAAF), the Maryland Small Business Development Financing Authority (MSBDFA), MIDFA, the Video Lottery Terminal Fund for small, minority and women-owned businesses, and the Maryland New Start Microloan Program, which offers no-interest $50,000 loans to eligible individuals with a criminal conviction who are referred by a qualifying entrepreneurship program.

Commerce also offers business resources on researching a location, starting or managing a business, growing a business and attending events, plus help with exporting and entering international markets.

Who it is for

Commerce serves businesses of all sizes across Maryland, from early-stage companies to large employers relocating or expanding in the state. Many programs have specific eligibility rules, such as headquarters location, employee counts, industry or good standing with state tax authorities, so founders should read each program page before applying.

How to engage

Application methods differ by program. Some tax credits use online applications with fixed windows and first-come queues, while PWQ applications are handled through a regional Commerce representative on a rolling basis. Founders can reach the department by calling 410-767-6300 or 1-888-246-6736, or through its contact page.

Why it matters in the DMV ecosystem

For Maryland founders, Commerce is the main state source of non-dilutive incentives. Programs such as BIITC can make a biotech round more attractive to investors, and the R&D credit can return cash to qualifying small companies, so it is worth checking eligibility early.