January 29th, 2020 by WCBC Radio

Lt. Governor Boyd K. Rutherford today touted Maryland’s advanced cybersecurity industry during the world-renowned Cybertech Conference in Tel Aviv as part of an international economic development trade mission in Israel. The lieutenant governor’s remarks marketed Maryland’s many assets in cybersecurity, one of the state’s strongest industry sectors. The Cybertech Conference is expected to attract nearly 15,000 attendees from more than 80 countries, including industry executives, entrepreneurs, investors, and government officials.

“Cyber is one of our state’s most important industries,” said Lt. Governor Rutherford. “This is an industry where people want to be, and it is an industry where Maryland is known to be a leader.”

Maryland enjoys numerous assets benefitting companies in the cyber and information technology industries. The state is home to a number of the U.S. government’s most important cyber assets, including Aberdeen Proving Ground, Fort Meade, the National Security Agency, and the U.S. Cyber Command. Additionally, Maryland has sixteen higher education institutions that are designated by the National Security Agency as National Centers of Academic Excellence in Cyber Defense. The state’s information technology sector, which includes cybersecurity, boasts about 121,000 private and public sector jobs, generating $45 billion in economic activity.

The state also has numerous resources available to cyber companies to help them grow. The Maryland Venture Fund provides seed and early-stage equity funding to startups, the Maryland Technology Development Corporation (TEDCO) facilitates technology transfer from academic and federal labs to the private sector, and the Maryland Department of Commerce provides tax credits for companies with significant research & development expenditures, as well as credits for those who invest in Maryland cybersecurity companies.

“No state in America is better able to address the rapidly emerging and evolving cybersecurity challenges facing the world today,” said Lt. Governor Rutherford. “And in an increasingly competitive international economy where companies can — and do — locate virtually anywhere, we are looking beyond our borders for opportunities to strengthen international partnerships, and strengthen Maryland’s position as the cyber capital of America.”