O'Malley proposes $100M venture capital plan
01.06.10
Gov. Martin O’Malley wants to put $100 million in offer capital into state startup companies, but the move is dependent on the General Assembly — and on the governor’s re-appointment.
O’Malley announced a plan Tuesday to draw the money from auctioned tax breaks for guarantee companies. Under the program dubbed InvestMaryland, the state would give companies tax credits for use five years from when they’re assumption the break. The companies have to pay a price up front for them. That money would be pooled, with at least half going to a state-run investment green and the rest to private venture capitalists.
Source: Baltimore Business Journal