Apparently this past summer the Maryland state government implemented a program called H.I.R.E. Maryland [http://dllr.state.md.us/]. Should you be one of the lucky unemployed Marylanders there is hope:
“Resources for Job Seekers
Maryland’s Hiring Incentive Rebate for Employers (index.shtml) can be used as an incentive to encourage employers to hire unemployed indivisuals.”
Should you be one of the struggling small businesses that are struggling in Maryland due to high business taxes and insurance rates and payments on your Small Business Administration Loan behold the light:
“What is the tax credit?
• The Hiring Incentive Rebate for Employers is a tax credit available to Maryland businesses that hire qualified workers for newly-created or certain vacant positions in the State.
•Employers will receive a maximum credit of $5,000, for each qualified employee, up to $250,000.
How does an employer qualify?
•Employees must be Maryland residents as well as hired between March 25, 2010 and December 31, 2010.
•At the time of hire, individuals must be receiving unemployment insurance benefits or have exhausted their benefits in the previous 12 months and not working full-time immediately preceding the date of hire.
•Positions must be full-time as well as newly-created or have been vacant for at least 6 months.
Where can I get more information?
For more information, visit the DLLRwebsite (index.shtml) or one of the 34 One Stop Career Centers (../employment/onestops.shtml).” [sic]
So employers must create a position in order to get the tax credit. Note that the credit is up to $5,000. This means that the credit can range from $1 to $5,000. I am sure that the conditions are set to ensure that most potential employers won’t receive the maximum. Also, would an employer, especially a small business think it is worth it to create a position for $5,000?
In Maryland most businesses are blue-collar, mall-type or state or local government jobs. So let’s focus on the first two types since the latter aren’t likely included. An average worker probably makes about $25,000-$40,000 a year (I’m being generous in this economy). That means that the owner has to be creative enough to generate MORE business revenue to cover the new employee’s salary in a failing economy, meaning should he/she be unable to the business would actually create an additional debt of $20,000 to $40,000. A small business that is able to generate that much more revenue wouldn’t need the incentive of $5,000.
Any average person in the DC-metro area knows that Maryland has a faltering business or job market. What I find interesting is that when I read economic stress maps or news about the DC area the author continues to make references to market/employment gains.
Maryland is over populated, overdeveloped and over-run by mob transplants ready to pillage whatever resources the state has. Years ago many medical practitioners moved out of Maryland because their medical malpractice insurance was increased to such a level they could not operate any more. Maryland does not have the foresight to attract corporations like northern Virginia does. Maryland seems to be concerned with more condos and mcmansions than how anyone can pay for it. It appears that many workers in Maryland are commuters from Philadelphia and Delaware, while many (professionals) commute to Washington, DC like northern Viriginians for employment. I doubt that this hiring incentive had any real impact for the unemployment rate overall, especially for displaced professionals.