ANNAPOLIS, Md. (AP) -- Lt. Gov. Anthony Brown announced Monday five areas where the state will encourage economic development amid growth expected from U.S. military agencies and units moving to Maryland.
The state is trying to prepare for tens of thousands of jobs slated to arrive in the state over the next several years due to decisions made the federal Defense Base Realignment and Closure Commission to consolidate military operations. Brown is the leader of Maryland's BRAC preparation effort.
Under the so-called "BRAC Zones" plan, the state will provide tax credits to encourage development in the areas, which state officials believe are best suited to accommodate BRAC-related growth. Local jurisdictions and businesses will receive priority consideration for financing assistance for projects from state agencies.
The General Assembly approved the idea of creating BRAC zones, capping the amount at $5 million total per year for all zones. However, supporters of the plan say that money can be leveraged in capital markets for tens of millions of dollars for infrastructure financing.