Maryland has long been regarded as a hub in the mid-Atlantic region for specialized manufacturing and many high technology and engineering companies. With the overall downturn in the global economy, there is an ever pressing need for states such as Maryland to develop a strategy that results in new and long-lasting jobs.
In order to meet the challenges of today’s economy, Maryland’s manufacturing industry must find routes to new markets in value-added and specialized areas in order – not to just to survive – but to thrive!
One area of industry that is seeing increasing investment is the clean energy sector. Maryland has already positioned itself to lead the nation’s nascent offshore wind industry. First, it has a progressive renewable portfolio standard (RPS) with the requirement that 20% of its electricity must originate from renewable energy sources by 2022 The largest potential renewable energy resource in Maryland is offshore wind energy. Maryland cannot meet its RPS commitment without deployment of offshore wind unless it relinquishes many of the economic opportunities to other states by simply purchasing the available certificates of renewable energy.
By assisting Maryland companies to identify alternative, high-growth market opportunities within the offshore wind energy sector, BizMDOSW aims to provide information that help the business community understand the full opportunities within the offshore wind sector, which in turn will enable the state to grow into a renowned clean energy hub for offshore wind business resources and skills. This will both enhance Maryland’s economy and assist the region in its move towards a smart green and growing economy.
This work is generously supported with funding from the Town Creek Foundation.