Maryland Department of Commerce

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.

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

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

• Economic development services
• Business incentive programs
• International trade assistance
• Workforce development programs
• Site selection services

Headquarters

HQ city

Baltimore

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. 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

Core 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

Named customers6 records

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

23 partnerships are on record, tiered flagship and core.

• Build Our Future Grant ProgramflagshipOthers · 12 May 2026State 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 ProgramcoreOthers · 12 May 2026State program expanded under DECADE Act for economic development in designated zones.
• Strategic Closing FundcoreOthers · 12 May 2026Rebranded from Sunny Day Program, provides financial assistance for economic development initiatives through Maryland Department of Commerce.
• Maryland State Innovation TeamflagshipStrategic or Co-development Partner · 6 May 2026Developed 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 FundcoreOthers · 6 May 2026$8 million program supporting child care providers as part of Maryland Community Business Compass initiative.
• NourishMD Grant ProgramcoreOthers · 6 May 2026$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 AcceleratorcoreStrategic or Co-development Partner · 5 May 2026Baltimore-based medtech accelerator providing facility for Impulse Biomed's soft landing in Maryland through Global Gateway program.
• Maryland Department of Information Technology (DoIT)coreStrategic or Co-development Partner · 17 April 2026First-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.
• DeloittecoreStrategic or Co-development Partner · 17 April 2026Professional services firm co-hosting Datathon with Maryland DoIT, providing industry expertise for student competition focused on transportation innovation using state open data.
• Rockville Innovation CentercoreStrategic or Co-development Partner · 24 March 2026Montgomery County facility hosting UK cybersecurity company Risk Ledger's first US office through Global Gateway Soft Landing program.
• F3 TechflagshipStrategic or Co-development Partner · 9 February 2026Leading 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)flagshipStrategic or Co-development Partner · 9 February 2026DoD program funding development of multi-user biomanufacturing facility near nation's capital to advance Maryland's biotechnology economy.
• L MarkscoreStrategic or Co-development Partner · 4 February 2026Innovation 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 InstitutecoreStrategic or Co-development Partner · 4 February 2026Co-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)coreStrategic or Co-development Partner · 4 February 2026Baltimore-based industry partner hosting Demo Day for Maryland Innovation Lab, providing real-world platform for AI-powered startup Maiven Energy's customer engagement pilot.
• ExeloncoreStrategic or Co-development Partner · 4 February 2026Parent company of BGE, participating in Maryland Innovation Lab program for decarbonization and energy affordability solutions.
• Cicada InnovationscoreStrategic or Co-development Partner · 1 January 2023Australian 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.
• EuraTechnologiescoreStrategic or Co-development Partner · 1 January 2023French partner in Maryland's Soft Landing Exchange program offering access to European market through facilities and support in France.
• Guinness Enterprise CentrecoreStrategic or Co-development Partner · 1 January 2023Irish partner in Maryland's Soft Landing Exchange program providing support for Maryland companies exploring expansion to Ireland.
• InnovationQuartercoreStrategic or Co-development Partner · 1 January 2023Netherlands-based partner in Maryland's Soft Landing Exchange program offering access to Dutch innovation ecosystem.
• Kanagawa Science ParkcoreStrategic or Co-development Partner · 1 January 2023Japanese partner in Maryland's Soft Landing Exchange program providing access to Japan's market through science park facilities.
• PlexalcoreStrategic or Co-development Partner · 1 January 2023UK-based partner in Maryland's Soft Landing Exchange program offering access to British innovation and startup ecosystem.
• Shonan iParkcoreStrategic or Co-development Partner · 1 January 2023Japanese 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

Direct 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

• Xx.com/MDBiz
• YouTubeyoutube.com/user/MarylandBiz
• Facebookfacebook.com/MarylandBiz
• LinkedInlinkedin.com/company/maryland-commerce

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Subsidiaries11 records

Funding overview

Funding rounds4 records

Investors2 records

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M&A

Investments96 records

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Frequently asked questions about Maryland Department of Commerce