A task force set up by the state of Maryland is expected to recommend expanded tax credits for cybersecurity to the state legislature. The legislative work group was set up to determine the best way to meet the growing demand for jobs in cybersecurity.
Along with Virginia, Maryland has identified cybersecurity as a sector it can grow and attract businesses in, improving its economy. Maryland introduced tax credits for cybersecurity in 2013, and also announced a partnership with local universities to construct a research and development corridor.
The task force’s plan includes a combination of expanded tax credits and incentives to graduate students from cybersecurity related programs.
“We’re going to look at the possibility of expanding the tax credit and incentives for that,” Maryland House Speaker Michael Busch told the Associated Press. “Any directions that we can get from the task force that might require legislative initiatives, we want to do that.”
The Maryland Economic Development Assistance Fund, which provides financial help to businesses, will also be enlisted to grow the State’s cybersecurity industry according to the associated press. The Technology Development Corporation, which was created by Maryland’s legislature in 1998 to leverage Maryland’s research universities for the state’s economy, may also be involved.
Several data center projects in Maryland were announced in 2013, including a massive NSA facility and a $5.5 million expansion by Rackspace. Between the state’s role in hosting, particularly for government, and the ongoing federal push for cybersecurity improvement, Maryland is primed to compete a piece of the growth projected in the industry.
A recent Deltek report projected that federal cybersecurity contracts will grow to $11.4 billion in 2018.
A similar need to rapidly fill network security jobs around Canada’s capital led Fortinet to aggressively expand a training partnership with Ottawa’s Willis College in December.