News

Governor Martin O'Malley and Peter Greenleaf, chairman of the Maryland Venture Fund Authority, today announced that $84 million has been raised for Maryland's Innovation Economy through InvestMaryland - an historic initiative created by the Governor and passed by the General Assembly last year to invest in the State's promising start-up and early stage companies. The $84 million raised far exceeds a goal of $70 million and was generated through an online auction of premium tax credits to insurance companies with operations in Maryland.

Gearing up for the implementation in 2012 of the State's InvestMaryland initiative, Grant Street Group, has been selected to oversee and administer the auction of the State's premium tax credits to insurance companies operating in Maryland with the goal of raising a minimum of $70 million.