City council members in Annapolis, Maryland, have now approved legislation to create an independent corporation that will help make the city more friendly to entrepreneurs looking toform an LLC or other business entity, the Capital reports.
The bill will use $400,000 in city funds to create the Annapolis Economic Development Corporation, which will advocate for changes to make the state more business-friendly.
“We need to do a much better job to make Annapolis a more livable city, to make it better to live here, work here and play here,” Annapolis Mayor Josh Cohen told the paper.
The panel will replace the city’s existing Department of Economic Affairs. Officials said that the group’s independent nature would help it stay out of city politics and be more focused on its mission. The paper reports that the group will begin operating this fall.
While entrepreneurs in Maryland have a number of advantages, there are also areas in which the panel could work to make significant progress. A recent CNBC ranking of the best states for business listed Maryland as 43rd in terms of the cost of doing business.
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