Maryland Department of Commerce
The Maryland Department of Commerce is Maryland's statutorily designated primary economic development agency, administering grants, financing programs, international trade assistance, and innovation initiatives to attract, retain, and grow businesses across strategic sectors including defense, life sciences, cybersecurity, and manufacturing.
- Company typePrivate
- Founded2015
- HeadquartersBaltimore, United States
- Headcount101–250
- GTM typeB2B
- OfferingServices
What Maryland Department of Commerce does
The Maryland Department of Commerce is the State of Maryland's statutorily designated primary economic development agency, headquartered at the World Trade Center in Baltimore. Its mission is to stimulate private investment and job creation by attracting new businesses, encouraging expansion and retention of existing companies, providing workforce training and financial assistance, and promoting Maryland's commercial advantages to spur economic development, international investment, trade, and tourism. The agency serves multiple customer cohorts: Maryland-headquartered companies seeking expansion capital or sites, foreign companies pursuing US market entry, defense and federal contractors, life sciences and biotechnology firms, and manufacturing companies adopting advanced technologies. Services are provided free of charge, funded by state appropriations and federal grants.
The agency operates a broad portfolio of programs across financing (Advantage Maryland/MEDAAF, MIDFA, MSBDFA, Strategic Closing Fund), grants (Build Our Future Grant Pilot Program at $6.95M FY25 and $7M FY26, Maryland Manufacturing 4.0 at $5M), international trade (ExportMD offering up to $5,000 reimbursement, Global Gateway Soft Landing Program serving 80 companies from 41 countries since 2023, Maryland Soft Landing Exchange with seven international partners), and innovation (Maryland Innovation Lab in decarbonization/energy). Distribution is multi-modal: geographically dispersed regional business development managers cover every Maryland county, six international regional managers cover East Asia, Europe, India/SE Asia/Australia, UK/Africa/Middle East, and the Americas, and self-serve channels include business.maryland.gov and liveworkmaryland.com.
The agency is led by Secretary Harry Coker, Jr., with a leadership team spanning offices of Business Development, Strategic Industries, Regional Development, International Investment and Trade, Military and Federal Affairs, and Tourism/Film/The Arts. Its competitive position is anchored in regulatory authority over state incentives, a unique defense ecosystem ($61.4B in economic activity, 389,949 jobs, 13.8% of state GDP), and a recently expanded mandate under the DECADE Act of 2026 that increased financial assistance caps by 50-150% across multiple programs.
Maryland Department of Commerce firmographics
Firmographics- Name
- Maryland Department of Commerce
- Legal name
- Maryland Department of Commerce
- Website
- https://commerce.maryland.gov
- Company type
- Private
- Founded year
- 2015
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- The Maryland Department of Commerce is Maryland's statutorily designated primary economic development agency, administering grants, financing programs, international trade assistance, and innovation initiatives to attract, retain, and grow businesses across strategic sectors including defense, life sciences, cybersecurity, and manufacturing.
- Ownership category
- akta.pro rank
Maryland Department of Commerce industry classification
Industry- Product category
- Government Economic Development Services
- NAICS
- Administration of Economic Programs (926), Regulation, Licensing, and Inspection of Miscellaneous Commercial Sectors (926150), Administration of General Economic Programs (92611)
- akta.pro primary industry
- Trade, Industry & Economic Development Administration (BPAIAAAL)
- akta.pro secondary industries
- Economic Development & Business Licensing (Local) (BPAIACAN), State/Provincial Licensing, Permitting & Regulatory Administration (Cross-sector) (BPAIABAO)
Keywords
Where Maryland Department of Commerce is headquartered
LocationHeadquarters
- HQ city
- Baltimore
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Maryland Department of Commerce business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure
Revenue model
- Government Funding: The department is funded through state government appropriations and federal grants to support economic development activities, business assistance programs, and workforce development initiatives.
Go-to-market motion1 record
Distribution channels4 records
Marketing channels8 records
Maryland Department of Commerce product offering
Product offeringCore offering
Maryland Department of Commerce is the state's primary economic development agency that stimulates private investment and creates jobs by attracting new businesses, encouraging expansion and retention of existing companies, and providing workforce training and financial assistance. It administers a portfolio of grant programs (Build Our Future, Manufacturing 4.0), financing programs (MEDAAF, MIDFA, MSBDFA), international trade assistance (ExportMD, Global Gateway Soft Landing, Soft Landing Exchange), and innovation initiatives.
Product overview
The Maryland Department of Commerce operates as the state's primary economic development agency offering a comprehensive suite of financial incentive programs and business development services. The portfolio includes grant programs (Build Our Future Grant Pilot Program, Maryland Manufacturing 4.0), financing programs (Advantage Maryland/MEDAAF, MIDFA, MSBDFA), international trade assistance (ExportMD, Global Gateway Soft Landing Program, Soft Landing Exchange), and innovation initiatives (Maryland Innovation Lab). These programs work together to stimulate private investment, create jobs, attract new businesses, and support the expansion and retention of existing companies across Maryland's strategic industry sectors including aerospace, biotechnology, cybersecurity, manufacturing, and life sciences.
Differentiator
Problem solved
Functional benefit
Products and services
- Build Our Future Grant Pilot Program Provides funding for innovation infrastructure projects in strategic technology sectors including labs, R&D centers, and manufacturing facilities. $6.95 million was awarded in FY25, with $7 million funded for FY26.
- Maryland Global Gateway Soft Landing Program Provides international companies with the opportunity to test the U.S. market at an affordable rate, offering six months of rent assistance, mentoring, and business registration support. Has supported 80 companies from 41 countries since its 2023 launch.
- ExportMD Program Helps offset costs of international marketing for Maryland small-sized companies with up to $5,000 in reimbursement for expenses including travel, website development, and trade show registration.
- Maryland Manufacturing 4.0 Grant program providing $5 million to Maryland businesses to adopt Industry 4.0 technologies, supporting over 2,400 jobs across aerospace, biomanufacturing, and other manufacturing sectors.
- Maryland Small Business Development Financing Authority (MSBDFA) Promotes viability and expansion of Maryland small businesses owned by economically and socially disadvantaged entrepreneurs, offering Contract Financing, Equity Participation, Long Term Guaranty, State Small Business Credit Initiative, and Surety Bonding programs.
- Advantage Maryland (MEDAAF) Flexible, broad-based program funding conditional grants, loans, and investments to assist economic development initiatives including business attraction and retention, infrastructure support, brownfield redevelopment, arts and entertainment districts, daycare, revolving loan funds, and local strategic planning.
- Maryland Industrial Development Financing Authority (MIDFA) Promotes private sector investment through insurance of financial obligations and issuance of taxable and tax-exempt bonds, providing credit insurance in the form of loan guarantees up to 80% (or 90% for export transactions) not to exceed $2.5 million.
- Maryland Defense Network Online tool providing defense business growth resources to help Maryland companies understand how to secure government contracts and work with the government as part of broader support for the defense ecosystem.
- Maryland Military and Community Compatible Use Project Initiative helping civilian communities and military collaborate on compatible land use planning and coordination, with resources and tools for state and local leaders, planners, military communities, and the general public.
- Maryland Soft Landing Exchange Provides Maryland companies with opportunity to test expanding to new markets abroad through a network of official partners including Cicada Innovations (Australia), EuraTechnologies (France), Guinness Enterprise Centre (Ireland), InnovationQuarter (Netherlands), Kanagawa Science Park (Japan), Plexal (UK), and Shonan iPark (Japan).
- Maryland Innovation Lab Public-private partnership led by Maryland Department of Commerce, L Marks, and World Trade Center Institute focused on decarbonization and energy affordability, with second nine-month program selecting four teams from 125 applications representing over 25 countries.
Quantifiable outcome
- $61.4B in economic activity generated by military installations
- +3 more outcomes
Companies that use Maryland Department of Commerce
Customer profileNamed customers6 records
Segments5 records
Ideal customer profiles5 records
Maryland Department of Commerce technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Maryland Department of Commerce partnerships and signals
Strategic signalPartnerships
23 partnerships are on record, tiered flagship and core.
- Build Our Future Grant ProgramflagshipState economic development program expanded under DECADE Act, providing funding for innovation infrastructure projects in strategic technology sectors including labs, R&D centers, and manufacturing facilities.
- RISE Zone ProgramcoreState program expanded under DECADE Act for economic development in designated zones.
- Strategic Closing FundcoreRebranded from Sunny Day Program, provides financial assistance for economic development initiatives through Maryland Department of Commerce.
- Maryland State Innovation TeamflagshipDeveloped Maryland Community Business Compass, first-of-its-kind data platform helping entrepreneurs access information, capital, and support for starting and scaling businesses.
- Child Care Capital Support Revolving Loan Fundcore$8 million program supporting child care providers as part of Maryland Community Business Compass initiative.
- NourishMD Grant Programcore$2 million grant program for fresh food retailers as part of Maryland Community Business Compass initiative to address food insecurity in underserved communities.
- The LaunchPort Medtech AcceleratorcoreBaltimore-based medtech accelerator providing facility for Impulse Biomed's soft landing in Maryland through Global Gateway program.
- Maryland Department of Information Technology (DoIT)coreFirst-time sponsor of 7th Annual Smith Analytics Consortium Datathon, collaborating with Deloitte to provide students access to state's open data portal for transportation innovation recommendations.
- DeloittecoreProfessional services firm co-hosting Datathon with Maryland DoIT, providing industry expertise for student competition focused on transportation innovation using state open data.
- Rockville Innovation CentercoreMontgomery County facility hosting UK cybersecurity company Risk Ledger's first US office through Global Gateway Soft Landing program.
- F3 TechflagshipLeading development of $40 million multi-site biomanufacturing facility proposal through Department of Defense's BioMADE program, identifying industry anchor and academic partners.
- BioMADE (Department of Defense)flagshipDoD program funding development of multi-user biomanufacturing facility near nation's capital to advance Maryland's biotechnology economy.
- L MarkscoreInnovation partner in Maryland Innovation Lab public-private partnership focused on decarbonization and energy affordability, co-leading nine-month innovation program with Maryland Department of Commerce.
- World Trade Center InstitutecoreCo-lead of Maryland Innovation Lab public-private partnership, bringing international trade expertise to innovation program focused on decarbonization and energy affordability.
- Baltimore Gas and Electric (BGE)coreBaltimore-based industry partner hosting Demo Day for Maryland Innovation Lab, providing real-world platform for AI-powered startup Maiven Energy's customer engagement pilot.
- ExeloncoreParent company of BGE, participating in Maryland Innovation Lab program for decarbonization and energy affordability solutions.
- Cicada InnovationscoreAustralian partner in Maryland's Soft Landing Exchange program, providing Maryland companies opportunity to test expanding to new markets in Australia at affordable rates through access to facilities, resources, and networking.
- EuraTechnologiescoreFrench partner in Maryland's Soft Landing Exchange program offering access to European market through facilities and support in France.
- Guinness Enterprise CentrecoreIrish partner in Maryland's Soft Landing Exchange program providing support for Maryland companies exploring expansion to Ireland.
- InnovationQuartercoreNetherlands-based partner in Maryland's Soft Landing Exchange program offering access to Dutch innovation ecosystem.
- Kanagawa Science ParkcoreJapanese partner in Maryland's Soft Landing Exchange program providing access to Japan's market through science park facilities.
- PlexalcoreUK-based partner in Maryland's Soft Landing Exchange program offering access to British innovation and startup ecosystem.
- Shonan iParkcoreJapanese partner in Maryland's Soft Landing Exchange program providing access to health innovation ecosystem in Japan.
Scale indicators11 records
Recent moves6 records
Expansion highlights5 records
Maryland Department of Commerce competitors and assessment
Company assessmentDirect peers
- Virginia Economic Development Partnership (VEDP): Virginia's state-level economic development agency offering a directly comparable suite of business attraction, expansion assistance, and incentive programs. VEDP competes head-to-head with Maryland for corporate relocations and expansions in the Mid-Atlantic.
- North Carolina Department of Commerce: North Carolina's primary state economic development agency. Like Maryland Commerce, it administers grant and incentive programs, recruits international companies, and targets life sciences, aerospace, and advanced manufacturing — making it a direct functional peer.
- Georgia Department of Economic Development: Georgia's state economic development agency operating a comparable model of regional representatives, international offices, and incentive programs across film, logistics, and advanced manufacturing. Directly comparable in mandate and program structure.
- Empire State Development (New York): New York's state-level economic development organization with comparable grant, tax-incentive, and business recruitment functions. Like Maryland, ESD runs a regional field structure and partners on international investment attraction.
- California Governor's Office of Business and Economic Development (GO-Biz): California's state-level economic development office. Operates a similar portfolio of business attraction, permitting assistance, and incentive programs targeting life sciences, clean energy, and advanced manufacturing — directly comparable in scope.
- Pennsylvania Department of Community and Economic Development (DCED): Pennsylvania's state economic development agency with overlapping business attraction, financing, and workforce programs. Competes with Maryland for Mid-Atlantic employers and serves a similar industrial base.
- Ohio Department of Development: Ohio's state economic development department offering grants, tax credits, and site-selection support targeting advanced manufacturing, logistics, and tech. Directly comparable in mandate and program mix.
- MassDevelopment (Massachusetts): Massachusetts' state economic development and finance authority combining real estate, financing, and business attraction functions. Comparable in life sciences and defense-tech focus, with overlapping client base.
- Texas Economic Development & Tourism Office: Texas' state economic development arm running comparable business recruitment, incentive, and workforce programs. Targets similar industries (advanced manufacturing, biotech, aerospace) and competes with Maryland for relocations.
- Colorado Office of Economic Development and International Trade (OEDIT): Colorado's primary state economic development agency combining business recruitment, international trade, and innovation programs. Directly comparable in mandate and in targeting aerospace, bioscience, and advanced industries.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks5 records
Key highlights7 records
Customer concentration
Maryland Department of Commerce social profiles
Digital presenceMaryland Department of Commerce financial estimates
Financial estimateRevenue estimate
Valuation estimate
Maryland Department of Commerce leadership team
Management profileNumber of profiles
Profiles10 records
Maryland Department of Commerce subsidiaries and ownership
Company hierarchySubsidiaries11 records
Maryland Department of Commerce funding detail
Funding detailFunding overview
Funding rounds4 records
Investors2 records
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Maryland Department of Commerce M&A and investment
M&A and investmentM&A
Investments96 records
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Frequently asked questions about Maryland Department of Commerce
What does Maryland Department of Commerce do?
Maryland Department of Commerce is the state's primary economic development agency that stimulates private investment and creates jobs by attracting new businesses, encouraging expansion and retention of existing companies, and providing workforce training and financial assistance. It administers a portfolio of grant programs (Build Our Future, Manufacturing 4.0), financing programs (MEDAAF, MIDFA, MSBDFA), international trade assistance (ExportMD, Global Gateway Soft Landing, Soft Landing Exchange), and innovation initiatives.
Is Maryland Department of Commerce a public or private company?
Maryland Department of Commerce is a private company. It is classified as state government owned and is currently operating.
When was Maryland Department of Commerce founded?
Maryland Department of Commerce was founded in 2015. It employs 101 to 250 people.
Where is Maryland Department of Commerce based?
Maryland Department of Commerce is headquartered in Baltimore, United States, in the North America region.
How does Maryland Department of Commerce make money?
One revenue line is on record: government Funding.
Who are Maryland Department of Commerce's main competitors?
Direct peers on record are Virginia Economic Development Partnership (VEDP), North Carolina Department of Commerce, Georgia Department of Economic Development, Empire State Development (New York), California Governor's Office of Business and Economic Development (GO-Biz), Pennsylvania Department of Community and Economic Development (DCED), Ohio Department of Development, MassDevelopment (Massachusetts), Texas Economic Development & Tourism Office and Colorado Office of Economic Development and International Trade (OEDIT).
Does Maryland Department of Commerce have an API?
No public API is recorded for Maryland Department of Commerce.
What industry is Maryland Department of Commerce in?
Maryland Department of Commerce's product category is Government Economic Development Services. Its primary akta.pro industry code is BPAIAAAL, Trade, Industry & Economic Development Administration, with a secondary code of BPAIACAN, Economic Development & Business Licensing (Local). Its NAICS code is 926.