Maryland Governor Martin O’Malley is expected to announce today an initiative to spur capital investments in Maryland’s tech sector, reports the Baltimore Sun.  He’s to speak this morning at a conference in Rockville, Maryland.

The initiative, “InvestMaryland,” will be spearheaded by the Free State’s Department of Business and Economic Development and hopes to stimulate development in the nascent innovation economy, which includes biomedical sciences.  Companies will get deferred tax credits for contributing capital into the state’s “venture infrastructure.”  In turn, this venture capital would be loaned to businesses to create jobs and invest in new technologies and services.  Just how many jobs this initiative is expected to create is still unknown.  The Sun expects additional details will be revealed later today.