Annapolis, MD, January 11, 2026
Governor Wes Moore has introduced a comprehensive economic agenda named the DECADE Act of 2026, aimed at revitalizing Maryland’s economy. This initiative addresses challenges posed by funding cuts and job losses and focuses on supporting local businesses through reduced regulations and enhanced innovation. The act comprises initiatives like consolidating economic programs, extending tax credits, and attracting the film industry, which together aim to stimulate job creation and enhance economic resilience in Maryland.
Maryland Governor Unveils Economic Strategy to Boost Growth
A Comprehensive Plan to Restore Maryland’s Economic Resilience
ANNAPOLIS, MD — In a proactive move to revitalize Maryland’s economy, Governor Wes Moore has introduced an ambitious economic agenda known as the Delivering Economic Competitiveness and Advancing Development Efforts (DECADE) Act of 2026. The initiative aims to address the challenges posed by federal funding cuts and job losses, particularly in light of significant disruptions such as the 25% tariff on car imports and the loss of approximately 15,100 federal jobs in 2025.
Governor Moore’s strategy not only underscores the state’s commitment to fostering an inviting business environment but is also a recognition of the tenacity of local entrepreneurs and small businesses that drive economic growth in Maryland. By decreasing regulatory hurdles and focusing on support for innovation, this agenda aims to stimulate job creation and enhance the overall business landscape.
Key Initiatives Under the DECADE Act
The DECADE Act outlines several initiatives designed to strengthen Maryland’s economic infrastructure:
- Consolidation of Economic Initiatives: By shifting certain economic development programs under the Department of Commerce, the state aims to streamline operations and achieve greater efficiency in delivering services to businesses.
- Extension of Tax Credits: The act proposes extending tax credits aimed at small businesses and research and development expenditures, incentivizing innovation and growth among Maryland entrepreneurs.
- Support for Innovation Grants: Allocating funds for innovation grants is a vital part of the act, promoting the creation of new technologies and strengthening emerging business models.
- Attraction of the Film Industry: By implementing strategies aimed at enticing the film industry to Maryland, the act seeks to create new economic opportunities and jobs in this vibrant sector.
Broader Economic Measures
In addition to the DECADE Act, Governor Moore has introduced a wider suite of measures to reinforce Maryland’s economy, including:
- Fiscal Year 2026 Budget: This budget aims to reverse a $3 billion deficit, maintain 8% in the state’s Rainy Day Fund, and institute income tax reforms that benefit 94% of Marylanders, enhancing disposable income for consumers.
- Procurement Reform Act of 2025: By modernizing the state’s procurement processes, this legislation seeks to improve efficiency and accountability while expanding opportunities for small businesses.
- Government Modernization Initiative: Aiming to create smarter government operations, this initiative encourages state agencies to collaborate on cost-saving measures and process improvements.
The Path Forward for Maryland’s Economy
The DECADE Act and these supplementary initiatives reflect a forward-thinking approach that emphasizes the importance of strategic investments and reforms. By addressing systemic challenges while championing innovation and efficiency, Maryland is setting a robust foundation for future economic growth and resilience.
Conclusion
Governor Moore’s comprehensive economic agenda is a significant step towards regaining Maryland’s economic footing following years of federal funding challenges and job losses. The DECADE Act is not just about policy; it represents a commitment to fostering a business-friendly environment that supports Maryland’s entrepreneurs and small businesses. As the state moves forward, community involvement and encouragement of local investments will be crucial in shaping Baltimore MD’s economic future and ensuring sustainable growth for its residents.
Frequently Asked Questions (FAQ)
What is the DECADE Act of 2026?
The DECADE Act is a legislative package introduced by Governor Wes Moore aimed at strengthening Maryland’s economic competitiveness. It includes consolidating economic development programs under the Department of Commerce, extending tax credits for small businesses and research and development, supporting innovation grants, and attracting the film industry to Maryland.
Why is the DECADE Act necessary?
The DECADE Act is necessary due to significant challenges faced by Maryland’s economy, including federal funding cuts and substantial job losses. The act seeks to address these issues by implementing strategic initiatives to bolster economic resilience and competitiveness.
What other measures has Governor Moore introduced to strengthen Maryland’s economy?
Governor Moore has introduced several measures, including the Fiscal Year 2026 Budget, which aims to reverse a $3 billion deficit and implement income tax reforms; the Procurement Reform Act of 2025, which modernizes procurement processes to enhance efficiency and expand opportunities for small businesses; and a Government Modernization Initiative to streamline state operations and promote smarter government practices.
Key Features of Maryland’s Economic Growth Initiatives
| Initiative | Description |
|---|---|
| DECADE Act of 2026 | A legislative package focusing on consolidating economic programs, extending tax credits, supporting innovation grants, and attracting the film industry to Maryland. |
| Fiscal Year 2026 Budget | A budget plan aiming to reverse a $3 billion deficit, preserve 8% in the state’s Rainy Day Fund, and implement income tax reforms benefiting 94% of Marylanders. |
| Procurement Reform Act of 2025 | Legislation modernizing the state’s procurement processes to enhance efficiency, accountability, and competition, while expanding opportunities for small businesses. |
| Government Modernization Initiative | An executive order directing state agencies to collaborate in reviewing operations to find cost savings, streamline processes, and eliminate redundancies, promoting smarter government operations. |
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