Maryland General Assembly passes legislation to create TEDCO Equitech fund

The Maryland General Assembly passed a bill that would establish a Maryland Technology Development Corp. (TEDCO) fund to promote job growth and minority inclusion in the sciences.

Both chambers passed House Bill 781 earlier this month, which establishes the Equitech Growth Fund to send state funding to projects that expand the economy through infrastructure investment and create a diverse workforce through job training programs. The bill, which is awaiting Gov. Wes Moore's signature, would require $5 million annually in the state budget from 2025 through 2033 to pay for the fund. A spokesperson for the governor did not immediately say whether Moore would sign the bill when contacted Thursday.