"Attracting $12 Billion to Create 5,800,000 Million High Paying Jobs"

The State of Maryland is #1 in Education & #1 Richest State in USA

Now...

Let's make Maryland the #1 State for High Tech Startups in USA and Worldwide!

 

Why A 25% Tax Credits for High Tech Investors in Maryland?


Re: Seeking Sponsors and Co-Sponsors from:

#1. The Senators and Delegates of the Maryland Legislature 
#2. The Maryland Associations of Counties
#3. The Maryland Municipal League

... support from Doctors, Lawyers, CPA, Teachers, Nurses and other associations in Maryland ...

... to transform the proposed 25% Tax Credits for 
High Tech Investors into a Draft Bill 

 

Today, I invite:

1) The Senators on the Senate a) Finance and b) Budget and Taxation Committees

2) The Delegates on the House a) Economic Matters and b) Ways and Means Committees

3) The Maryland Associations of Counties and

4) The Maryland Municipal League

5) The Doctors, Lawyers, CPAs, Teachers, Nurses and other associations in Maryland

... to reinvent the startup community in the Great State of Maryland to make it the #1 State in the United States and region worldwide for high tech startups.

 

The paramount reasons for the 25% Tax Credits for High Tech Investors proposed law are:

#1. Increase Tax Revenues

The Maryland State, Counties & Local Governments taxable income would likely increase by $26,439,300,000 Billions over 10 years.

#2. Augmentation of Risk Capital

The State of Maryland pool of Venture Capital would likely increase by $12 Billion over 10 years.

#3. New Jobs Creations

The State of Maryland would likely create 5,800,000 million (1/4 high paying) jobs over 10 years.

Essentially, the investment must be made by an accredited Angel Investors or Venture Capital firms (someone of high net worth and who seeks high returns through private investments in High Tech Startups and may seek active involvement in business, such as consulting and mentoring the entrepreneur) registered in the State of Maryland. 

 

The goal of the Proposed Law are:

#1. to facilitate the availability of risk capital investment in high tech startups.

#2. to assist in the creation and expansion of businesses, which create jobs/wealth. 

#3. to encourage economic growth and development (e.g., creating incentives for companies to create or retain jobs that otherwise wouldn’t occur) 

#4. to stay competitive with other states (or countries for global high tech enterprises) that have a tax preference

#5. to guard against significant loss of sales or business 

 

Multiplier effects are about the full impact of a single job as measured by its associated additional economic activity. In creating new high tech jobs to a city, it will trigger a substantial chain of economic effects to both skilled and unskilled workers outside of the tech industry.

 

According to The New Geography of Jobs by Enrico Moretti:

"With only a fraction of the jobs, the innovation sector generates a disproportionate number of additional local jobs and therefore profoundly shapes the local economy. A healthy traded sector benefits the local economy directly, as it generates well-paid jobs, and indirectly as it creates additional jobs in the non-traded sector. 

What is truly remarkable is that this indirect effect to the local economy is much larger than the direct effect. My research, based on an analysis of 11 million American workers in 320 metropolitan areas, shows that for each new high-tech job in a metropolitan area, five additional local jobs are created outside of high tech in the long run.

[And] it gets even more interesting. These five jobs benefit a diverse set of workers. Two of the jobs created by the multiplier effect are professional jobs—doctors and lawyers—while the other three benefit workers in nonprofessional occupations—waiters and store clerks.

Take Apple, for example. It employs 12,000 workers in Cupertino. Through the multiplier effect, however, the company generates more than 60,000 additional service jobs in the entire metropolitan area, of which 36,000 are unskilled and 24,000 are skilled. Incredibly, this means that the main effect of Apple on the region’s employment is on jobs outside of high tech.  

The takeaway is critical: One of the best ways for a city or state to generate jobs for less skilled workers is to develop and attract high-tech companies that hire highly skilled ones."  

Thus, If a community attracts high tech startups, the effects on job creations in the service sector are tremendously beneficial in terms of jobs for local doctors, lawyers, teachers, nurses, architects, cabdrivers, housekeepers, nannies, carpenters, hairstylists, dog walkers and therapists.

 

The fundamental factors for the positive outlook are:

#1. High Tech Role in U.S. Economy

90% of new jobs growth in the United States are from high growth high tech startups. 

#2. Impact of New High Tech Jobs

For each job created in the high-tech sector, approximately 4.3 jobs ( 2 high skills [Doctors & Lawyers] 2.3 low skills) are created (multiplier effect) in other local goods and services sectors .

#3. Leading Roles of Venture Capital

Approximately 90% of Angel Investment funds, in contrast to only about 20% of Venture Capital funds, are placed in start-ups and early stage companies.

 

Honorable Lawmakers of the State of Maryland, I need your help to:

  • Phase 1
    move forward this business concept into a Draft Bill to seek the enactment of a 25% High Tech Investors Tax Credits law by the Maryland Legislature 
  • Phase 2
    propel the State of Maryland to the #1 State in the United States and region worldwide.

 

world innovation clusters

 

I. Uniqueness or Differentiation

This initiative is different from the Maryland Rise program, InvestMaryland and the existing Maryland's 50% Biotech and 30% Cyber Security tax credits for businesses. 

Distinctively, this initiative focuses on granting the incentives to risk capital firms and let them decide what they consider worthy investments.  It is totally driven on the private sector side by the Angel Investors and Venture Capital firms.

The ultimate objective of the 25% Tax Credits for High Tech Investors is to make startup investment more attractive to investors since seed-stage investments are very risky and startups have a tremendous impact on igniting economic growth and job creation.

 

II. Aim of High Tech Investors Tax Credits

Capital is the lifeblood of startups.  According to the Angel Capital Association, twenty states have tax incentives for angel investors. This High Tech Investors Tax Credits initiative focuses on the following premises:


#1. entrepreneur greatest challenge is raising capital 

#2. government needs to increase tax revenues & create employment

#3. government should provide incentives to risk capital investors to stimulate investment in high tech startups

That is why I am engaging the Maryland lawmakers and accredited investors to support this initiative for a 25% tax credits for High Tech Angel Investors and Venture Capital firms to produce the following results:

#1. increase tax revenues for the State, County & Local Maryland's Government as opposed under the current system.

#2. create a potential of 5.8 million (1/4 high paying) jobs in the State of Maryland over 10 years

#3. increase the availability of risk capital for Scalable High Tech startups in Maryland by $12 Billion over 10 years

In addition, I believe we should designate non profit and for profit incubators and accelerators as Tax Free Zones hubs for startups formations.  The Proposed Tax Credits law for accredited investors that invest in the qualified high tech startups should be approved by some type of Technology Review Board based on the NAICS codes below for:

 

A. High-tech manufacturing industries 

3254  Pharmaceutical and medicine manufacturing 
3333  Commercial and service industry machinery manufacturing 
3341  Computer and peripheral equipment manufacturing 
3342  Communications equipment manufacturing 
3343  Audio and video equipment manufacturing 
3344  Semiconductor and other electronic component manufacturing 
3345  Navigational/measuring/medical/control instruments manufacturing 
3346  Manufacturing and reproducing magnetic and optical media 
3364  Aerospace products and parts manufacturing 
3391  Medical equipment and supplies manufacturing 
 
B. High-tech services industries 

5112  Software publishers 
5121  Motion picture and video industries 
517    Telecommunications 
518    Internet service providers, web search portals, and data processing services 
5191  Other information services 
5413  Architectural, engineering, and related services 
5415  Computer systems design and related services 
5417  Scientific R&D services 
6215  Medical and diagnostic

High Tech Occupations

III. National Impact of Venture Capital

In the last few decades, the high tech rates of business formation and new firm growth have exceeded those  firms across other sectors of the United States economy.

Around $50 billion per year of private capital is currently invested in emerging U.S. companies. 

Approximately 90% of angel investment funds, in contrast to only about 20% of Venture Capital funds, are placed in start-ups and early stage companies.

The impact of venture capital on job creation and the economy is compelling.  For example, from 1970 to 2000, U.S. VC firms invested over $270 billion in more than 16,000 companies. 

In 2000, the surviving VC-backed companies employed 7.6 million people, representing 5.9% of all U.S. jobs, and generated sales of $1.3 trillion, accounting for 13.1% of the U.S. GDP.  

Historical results show an annualized return of 16.7% to investors in some 1,860 U.S. venture capital and private equity partnerships.

IV. Attracting $12 Billions in Venture or Risk Capital 

With regard to job stimulation, the proposed 25% tax credit would likely stimulate gross investments by over 33% (1/[1 - 0.25 = .75]=1.33).

1. Angel Investors

Maryland Angel Investors probably currently invest an average of $450 million per year.    

Based on the above figures, $450 million per year x 10 = $4.5 billion over 10 years for angels.

If Angel Investors are eligible for 25% tax credit, then they might invest $1.5 billion more capital over 10 years.

2. Venture Capital (VC)

$450 million per year x 10 = $4.5 billion over 10 years for VC firms.  

If VC firms are also eligible for a 25% tax credit, then they too might invest $1.5 billion more capital over 10 years.

3. Total of Venture Capital

So, adding $4.5 billion + 4.5 billion + 1.5 billion + 1.5 billion = $12 billion.  

Thus, a total of $12 billion might be invested over 10 years.

 

V. Jobs Growth in High Tech Sectors

According to Technology Policy Coalition Engine and the Ewing Marion Kauffman Foundation, new high-tech companies typically grow rapidly, add thousands of jobs and successful startups make up for the job loss from the high rate of startups failures.



"The high-tech sector and the information and communications technology (ICT) segment of high-tech are important contributors to entrepreneurship in the U.S. economy. 

During the last three decades, the high-tech sector was 23 percent more likely and ICT 48 percent more likely than the private sector as a whole to witness a new business formation.

High-tech firm births were 69 percent higher in 2011 compared with 1980; they were 210 percent higher for ICT and 9 percent lower for the private sector as a whole during the same period. 

This is important because the productivity growth and job creation unleashed by these new and young firms—aged less than five years—require a continual flow of births each year."

Source: Kauffman Foundation Research Series: Firm Formation and Economic Growth Tech Starts: High-Technology Business Formation and Job Creation in the United States, August 2013

"This has been especially true for high-tech and ICT, where surviving young firms create jobs at twice the average rate across the entire private sector."

For medium-age firms, net job creation rates are lower, but the rates for high-tech and ICT are about four times the rate for the private sector as a whole. 

Taken together, Figures 1 and 2 show that, while older firms are the major source of employment, new and young companies are responsible for net new jobs. 

Once again, this fact hold true for high-tech and ICT firms where job creations among young businesses have offset job losses from early-stage startup failures.

Source: http://www.kauffman.org/newsroom/2013/08/young-hightech-firms-outpace-private-sector-job-creation

 

VI. 1 New High Tech Job Creates 4 Jobs in other Sectors

For each new high-tech job, approximately 4.3 jobs are created (multiplier effect) according to a report by the Bay Area Council Economic Institute commissioned by Engine Advocacy.  

In addition, "high-tech jobs have been more resilient over the past 10 years to economic downturns than other private sector industries, pay more, create more indirect jobs by far than any other industry and hold the most promise for continued growth."

Here are the key findings: 

– Employment growth in tech jobs — defined as those most closely related to science, technology, engineering and math (STEM) — outpaced gains in all other occupations by a ratio of 27 to 1 from 2001 to 2011.

– For each job created in the high-tech sector, approximately 4.3 jobs are created (multiplier effect) in other local goods and services sectors across all income groups, including lawyers, dentists, schoolteachers, cooks and retail clerks, among many others.

– The jobs multiplier effect in the high-tech sector is significantly higher than for almost any other sector. 

By comparison, traditional manufacturing has a multiplier effect of 1.4 jobs.  Demand for high tech occupations will be considerably stronger than demand for other workers.

VII. Applying the 80/20 Rule 

Based on the facts mentioned above, I have combined the principle of logic in conjunction with the reverse of the 80/20 rule or the pareto principle.

The 80-20 or 90/10 rule in economics states that 80% of a country's wealth is controlled by 20% of the population.

For example, in California, according to Engine, http://www.engine.is/, a research and policy foundation that educates technology startups and government about the impact of high-tech entrepreneurship, between 1980 and 2010, businesses in their first year added an average of 398,193 new jobs each year.

California annual net job growth

Companies aged one year or more, as a group, subtracted an average of 192,501 each year during that same period. This occurred because the forces of job destruction (through business contractions and closures) were stronger than the forces of job creation (through firm births and expansions) for businesses older than a year old as a group.

In other words, outside of startups, net job creation in California was negative during the past three decades.  In addition to the job creation dynamics of new firms, among existing businesses it is young firms (those less than five years old) that have the biggest effect on job creation.

Taken together with the chart above, we can say that new and young firms are responsible for all net new job creation during the past few decades.  Therefore, it is wise for Maryland to focus on Scalable High Tech job creations efforts where 90% of new jobs growth in the United States have occurred.

 

VIII. Macro Economic Impact to Maryland

Most importantly, the State, County & Local Maryland's Government will experience an increase in tax revenues as opposed under the current system. For  new job created in the high-tech sector, approximately 4.3 jobs are created (multiplier effect).

1. New High Tech Jobs

A. Historically, $1 million in Angel Investment creates 90 jobs over a 5 years period. 

B. There are 12,000 millions in $12 Billions. 

C. Therefore, assuming that only 10% of projected jobs are created, 90 jobs times 12,000 millions are equal to 1,080,000 jobs over 10 years.  

2. Derivatives Jobs based on multiplier effects

1,080,000 jobs times 4.3 is equal to 4,720,000 jobs 

3.  Total Numbers of Jobs Creations

Thus, over 10 years, a potential of 5,800,000 millions jobs will be created.

4. Option A - Tax Revenues Assumptions on Optimal Analysis

A. Assuming that the annual average pay for High Tech workers is $60,000 since the average workers in Maryland was $51,860 as of May 2011.

B. Based on the online version of the Form 502D for Maryland and Local Tax Worksheet on the Maryland Comptroller at https://interactive.marylandtaxes.com/webapps/percentage/502for2014.asp, with standard deduction for $60,000 of Estimated Federal Adjusted Gross Income based on Prince George's County...

Here are the Results:

1. Total income expected in 2014: $60,000.00

2. Net Modifications: $0.00

3. Maryland Adjusted Gross Income: $60,000.00

4. Standard deduction: $2,000.00

5. Maryland Net Income: $58,000.00

6. Personal exemptions: $0.00

7. Taxable Net Income: $58,000.00

8. Maryland Income Tax: $2,702.50

9. Local or Special Nonresident Income Tax: $1,856.00

10. Total 2014 Maryland and local income tax: $4,558.50

11. CREDITS  
a. Income tax to be withheld from wages by employers during year 2014: $0.00

b. Credit for tax paid to another state: $0.00

c.  Business tax credits $0.00

d. Total tax credits: $0.00

12. Total estimated tax to be paid by declaration: $4,558.50

 

Hence, the total taxable income to the State of Maryland over 10 years is:

$4,558.50 x 5,800,000 jobs = $26,439,300,000 Billions


Specifically...

A. Maryland Income Tax:  $2,607.50 x 5,800,000 jobs =  $15,123,500,000.00 

B. Local Income Tax:  $1,856.00 x 5,800,000 jobs =  $10,764,800,000.00 

 

5. Option B -Tax Revenues Assumptions on Conservative Analysis

A. Assuming that the annual average pay for High Tech workers is $60,000 since the average workers in Maryland was $51,860 as of May 2011.

B. Based on the online version of the Form 502D for Maryland and Local Tax Worksheet on the Maryland Comptroller at https://interactive.marylandtaxes.com/webapps/percentage/502for2014.asp, with standard deduction for $60,000 of Estimated Federal Adjusted Gross Income based on Prince George's County...

Here are the Results:

1. Total income expected in 2014: $60,000.00

2. Net Modifications: $0.00

3. Maryland Adjusted Gross Income: $60,000.00

4. Standard deduction: $2,000.00

5. Maryland Net Income: $58,000.00

6. Personal exemptions: $0.00

7. Taxable Net Income: $58,000.00

8. Maryland Income Tax: $2,702.50

9. Local or Special Nonresident Income Tax: $1,856.00

10. Total 2014 Maryland and local income tax: $4,558.50

11. CREDITS  
a. Income tax to be withheld from wages by employers during year 2014: $0.00

b. Credit for tax paid to another state: $0.00

c.  Business tax credits $0.00

d. Total tax credits: $0.00

12. Total estimated tax to be paid by declaration: $4,558.50

 

Hence, the total taxable income to the State of Maryland over 10 years is:

$4,558.50 x 1,200,000 jobs = $5,470,200,000  Billions

Specifically...

A. Maryland Income Tax:  $2,607.50 x 5,800,000 jobs =  $3,129,000,000 

B. Local Income Tax:  $1,856.00 x 5,800,000 jobs =  $2,227,200,000 

 

Alternate Option Based on Conservative Analysis
Conservative Scenario Analysis Over 10 Years
1. 80% of Angel Investors fund are invested in Startups
2. 20% of Venture Capital funds are invested in Startups
3. We know that there are 12,000 millions in 12 Billion
4. Therefore are 6,000 millions in 6 Billion
5. Historically, $1 million investment creates 90 jobs over 5 years
6. Let us assume $1 million investment creates just 50 jobs over 5 years
7. 1 New High Tech Jobs creates 4.3 more but we will assume just 3
8. let assume the average salary in High Tech is $60,000
Risk Capital Optimal Scenario Conservative Scenario
Angel Investors - 80% 6,000,000,000 $ 4,800,000,000.00
Venture Capital - 20% 6,000,000,000 $ 1,200,000,000.00
Total 12,000,000,000 $ 6,000,000,000.00
Jobs Creations based on 10% of Projected Job Creations
6000 million 6000
50 jobs created / 5 Yrs 50
Assuming 10 Years 10
Total High Tech Jobs 300,000.00
1 High Tech - 3 more Jobs 900,000.00
High Tech + Local Jobs Total 1,200,000.00

 

IX. Tax Revenues Estimates by Counties

The Directors of Economics Development in the Maryland Counties and cities are closer to the sources of innovation than those at the State level. 

According to a McKenzie article entitled "Creating Growth Clusters, What Role Should Local Government Play, July 2014", the following two requirements were highlighted as conditions sine qua non for a successful startups policy:

#1. "The ability to keep pace with the start-up environment. The start-up world is volatile; investors and founders, and their needs and activities, change rapidly. 

Policy makers cannot pick winners in such an environment. Instead, they should focus on enabling structures that can address more fundamental requirements."

#2. "The ability to succeed in a multistakeholder environment. When starting initiatives to spur innovation, there are many competing interests: stakeholders from the private sector, such as venture capitalists, corporations, and start-ups; diverse levels of governments; and universities and research institutes.

Here are some of the questions The Directors of Economics Development at all levels in the Maryland's Governments should ask and find answers to in order to propel Maryland as the #1 State in the USA and region worldwide for startups formations:

1. What can we do to increase capital availability in our County or city? 

2. How can we ensure there are enough coworking spaces at reasonable prices for entrepreneurs?

The State, Counties and Local governments officials cities likely won’t get their initiatives right the first time, no matter the level of precautionary measure since the notion of perfect solution is a fallacy.

Instead, the Directors of Economics Development in Maryland must adjust to the needs of startup by copying the approach of start-ups: 

#1. launch the initiative

#2. analyze the launch

#3. learn what went wrong and then

#4. adjust it and relaunch.

Bringing together and managing the public and private stakeholders and interests are essential to successful startup community.

The following is a projection made based on the population size of each County time and using that same percentage figure for the proportion of new jobs creations.

1. Existing non high tech small businesses will benefit from workers disposable incomes and a high concentration or clusters of new high growth high tech startups in Maryland  would also be paying state and local income taxes.

2. Assuming the percentage of County population is equal to the same percentage distribution of the 5.8 million job creations 

 

5,773,552 ---> Value for Maryland Population(Number)
5,800,000 ---> Total of Potential Jobs Creations
Local Tax Rate $1,856.00 x 5,800,000 jobs
= ----> $ 10,764,800,000.00
Pop. % Pop. % of Tax Income
Allegany 75,087 1.30% $ 139,999,871.41
Anne Arundel 537,656 9.31% $ 1,002,460,757.05
Baltimore 805,029 13.94% $ 1,500,978,284.98
Baltimore city 620,961 10.76% $ 1,157,783,106.97
Calvert 88,737 1.54% $ 165,450,325.48
Caroline 33,066 0.57% $ 61,651,627.42
Carroll 167,134 2.89% $ 311,621,698.95
Cecil 101,108 1.75% $ 188,516,081.33
Charles 146,551 2.54% $ 273,244,651.61
Dorchester 32,618 0.56% $ 60,816,330.47
Frederick 233,385 4.04% $ 435,146,829.54
Garrett 30,097 0.52% $ 56,115,920.60
Harford 244,826 4.24% $ 456,478,598.41
Howard 287,085 4.97% $ 535,270,593.91
Kent 20,197 0.35% $ 37,657,349.51
Montgomery 971,777 16.83% $ 1,811,880,286.10
Prince George's 863,420 14.95% $ 1,609,848,428.84
Queen Anne's 47,798 0.83% $ 89,119,472.80
Somerset 26,470 0.46% $ 49,353,371.37
St. Mary's 105,151 1.82% $ 196,054,263.44
Talbot 37,782 0.65% $ 70,444,619.46
Washington 147,430 2.55% $ 274,883,548.98
Wicomico 98,733 1.71% $ 184,087,888.77
Worcester 51,454 0.89% $ 95,936,092.58
100.00% $ 10,764,800,000.00

 

X. YOUR COLLECTIVE EFFORTS ARE NEEDED... 

Most states, as well as the federal government, provide tax credits to encourage taxpayers to perform certain actions, such as making investments in certain types of companies. 

When taxpayers take that action and receive the tax credit, they can claim it to reduce their tax liabilities. Tax credits are different from deductions in that the amount of credit is subtracted directly from the amount of taxes owed—on a dollar-for- dollar basis.

I. Tax credits can come in several different types, as described below:

1. Refundable Credits

If the amount of the credit earned exceeds the amount of tax the taxpayer owes, the Department of Revenue pays out the unused portion of the credit in the form of a refund.

2. Non-Refundable Credits

If the amount of the credit earned exceeds the amount of tax the taxpayer owes, depending on how the credit is structured, the unused portions of the credit either will be forfeited or will have to be carried forward to be applied to future years’ tax liabilities.

3. Carry-Forward Credits

These credits allow taxpayers to apply any

unused portions of the tax credit to future years’ tax liabilities. Limits may be placed on the number of years a credit can be carried forward.

4. Transferable Tax Credits (Preferred)

Such credits can be sold or given to other taxpayers, who can use them to reduce their tax liability. Generally when credits are transferred, they are sold to another taxpayer for less than the full value of the credit.


diagram


Based on the diagram, the credit amount is directly tied to the amount of that contribution or investment. Each accredited investors will have an additional $25,000 to invest in high tech startups. In essence, the credit becomes part of the transaction, because the State essentially is reimbursing the taxpayer for part of the contribution or investment he or she made.

The transferable tax credits as illustrated in the diagram above will be cost-effective because all of the money the State of Maryland or local governments give up via the tax credits going to the project or activity benefiting from the credit. 

The transferability feature of these credits has no effect on that relationship, because even if the taxpayer who received the credit later sells the credit to another taxpayer, the amount he or she receives from that sale doesn’t affect either the revenue forgone by the State and Local governments or the amount of money that went to the project or activity.

I recommend the adoption of a transferable tax credits and the issuance of tax credits immediately when an accredited U.S. investors or taxpayer makes an investment in high tech startups.


II. Advantages of Transferable Tax Credits

#1. Attract Out of State Accredited Investors

It Creates a broader pool of contributors or investors. Out-of-state investors or non-profit organizations that don’t normally have a tax liability in Maryland can invest in High Tech Startups towards the activity the State wants to encourage. 

#2. Sell Tax Credits

The investors can sell the credit to those who can use it and receive an offsetting benefit. Without the transferability provision, some of these investors or contributors otherwise wouldn’t get involved.

#3. Increase Funding

The transferable tax credits will generates more funding for a project than might have occurred otherwise. An accredited investor who wants to make an investment can spend more because his or her own tax liabilities aren’t a limiting concern anymore; the taxpayer can sell any unused credit portion to someone who can use it. 

In addition, non-profit organizations (which aren’t subject to tax) can transfer the tax credits to individuals who can use them.


III. Possible Transferable Tax Credits Disadvantages

#1. Challenges

It creates an administrative burden for tax agencies or other state agencies. A transferable tax credit requires states’ respective taxation agencies to track the tax credit’s transfers to ensure that credits are claimed by the rightful owner. 

#2. Transfer Rules

Depending on the transfer rules, this can become complex quickly, especially when credits can be split and transferred multiple times. However, if the credit is transferable, a taxpayer can sell it to someone who can use it, thereby increasing the likelihood that it will be claimed.

 

IV. Auditing

I also strongly suggest a mechanism for collecting the information that will be needed to evaluate whether the tax credit is achieving its purpose annually.

 

 V. Conclusion

Let's Propel the Great State of Maryland to #1 in USA and Worldwide ...

The Great State of Maryland is already

1. #1 in Education
2. #1 Richest State in USA


Now...

3. Let's make Maryland the #1 State for High Tech Startups in USA and Worldwide.

Will you be a Sponsor of this Draft Bill to take the Great State of Maryland to HIGHER HEIGHTS OF ECONOMIC GREATNESS?  

Sincerely,


Pierre Richard Augustin, MPA, MBA, Tel: 301-761-4347 |  http://www.paugustin.com

P.S. - I know your support is essential to the success of this Bill Proposal.  

 

STAKEHOLDERS - LOCAL ECONOMIC DEVELOPMENT AGENCIES

 

Allegany County Department of Economic & Community Development

Anne Arundel County Economic Development Corporation

Baltimore City Development Corporation

Baltimore County Department of Economic Development

Calvert County Department of Economic Development

Caroline County Economic Development Corporation

Carroll County Department of Economic Development

Cecil County Office of Economic Development, Tourism, & Agriculture

Charles County Department of Economic Development

Dorchester County Department of Economic Development

Frederick County Department of Business Development & Retention

Garrett County Department of Economic Development

Harford County Office of Economic Development

Howard County Economic Development Authority

Kent County Office of Tourism & Economic Development

Montgomery County Department of Economic Development

Prince George's County Economic Development Corporation

Queen Anne's County Department of Economic Development & Tourism

St. Mary's County Department of Economic & Community Development

Somerset County Economic Development Commission

Talbot County Office of Economic Development

Washington County - Hagerstown-Washington County Economic Development Commission

Wicomico County - Salisbury-Wicomico Economic Development, Inc.

Worcester County Department of Economic Development

 

Worthy Mentioned

I was born in August 11, 1967 in Les Cayes.  At a young age of 12, my parents fulfilled my dream to attend school in Paris, France due to my desires to follow the footsteps of my forefathers.

I had a vision and a desire to help improve the lives of others and to make a difference. Thus, I majored in Political Science at Salem State University, Salem, Massachusetts. 

Thereafter, in just 12-months, I earned a Master of Public Administration from the Institute of Public Service at Suffolk University, Boston, Massachusetts. 

A year later, while working full-time, I completed in 12-months a Master of Business Administration from the University of Massachusetts Lowell, Lowell, Massachusetts.

You can read my plan: Bringing "New Wealth" Initiative to attract new business start-up, relocation, expansion & high paying jobs creation in Maryland at http://www.paugustin.com/business.

 

EDUCATION

MASTER OF BUSINESS ADMINISTRATION (MBA), 1999. Completed in 12 months, 1-1998 to 12-1998.  University of Massachusetts, School of Management, Lowell, Massachusetts,http://www.uml.edu/.

MASTER OF PUBLIC ADMINISTRATION (MPA), 1997. Completed in 12 months, 1-1996 to 12-1996.  Suffolk University, Institute of Public Service, Sawyer School of Management, Boston, Massachusetts, http://www.suffolk.edu/.

BACHELOR OF SCIENCE in POLITICAL SCIENCE with BUSINESS & ECONOMICS minors, 1992. Salem State University, Salem, Massachusetts, http://www.salemstate.edu/.

 

"Mr. Augustin...Your actions are that of a truly great American who still believes there is justice.  My older son was a lifetime law enforcement officer and in the military. My younger son was a firefighter/paramedic his entire career.  They both fervently believed in standing up for those who cannot defend or protect themselves. Were they here, they would be honored to know you. - Sincerely, Barbara”

Elect Pierre Richard Augustin

Pierre Richard Augustin holds a B. S. in Political Science with Business and Economics Minor, a Master of Business Administration (MBA) and a Master of Public Administration (MPA).

Tel: (301)761-4347   Email: PierreAugustin@paugustin.com

"Hi Mr. Augustin..., I live in Arlington VA, but I want to send a positive message your way. I commend your initiative and want to let you know that there are people out here who believe in and support your cause; not only in your community, but in communities everywhere. Dedicated and creative-minded people are hard to find, but they (we) are out here. Good luck and never give up!" 

DONATE Online Today at http://paugustin.com/contribute

Thank you, Pierre Richard AUGUSTIN, MPA, MBA

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Initiative by Pierre Richard AUGUSTIN, President and CEO, AdMerk Corp. Inc. at AdMerk.mobi
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