O'Malley Announces Business Development Partnership With Israel

Partnership would focus on funding cybersecurity, life sciences companies

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    Maryland Gov. Martin O'Malley

    Gov. Martin O'Malley's office is announcing a new Maryland/Israel Development Partnership.

    The governor announced the partnership on Sunday as the he wrapped up an eight-day trade mission to Israel and Jordan.

    The governor's office say the partnership will fund joint development efforts by Maryland and Israeli companies in the cybersecurity and life sciences sectors.

    O'Malley's office says the Maryland Department of Business and Economic Development and Israel's Ministry of Industry will decide which research to fund. Maryland will fund up to half of the research costs of Maryland companies, with a $400,000 cap per project. Maryland companies could also qualify for tax credits.

    This is O'Malley's third visit to Israel and his first to Jordan.