MARYLAND. - Maryland Governor Wes Moore announced the creation of 250 new jobs in the state on Wednesday after Cloudforce selected Maryland for an AI platform extension.
The Maryland Department of Commerce says that the AI platform, Cloudforce, will expand its headquarters location in Prince George's County. This allows for the addition of 250 new jobs, as well as keeping over 130 employees over the next five years.
State leaders shared that the company selected Maryland after an analysis was done on potential expansion sites across the DC-Metro region. This allows Cloudforce to nearly double its current headquarters office space by leasing 15,000 square feet of office space.
“Cloudforce’s expansion and continued commitment to Maryland is a win for our state’s workers, students, and our future,” says Gov. Moore. “Our administration is making historic investments to support partnerships with world class leaders like Cloudforce and building pathways to work, wages, and wealth, so that Maryland communities have a leg up in this rapidly evolving economy.”
Cloudforce will also expand its Maryland talent strategy, saying that the company has supported Governor Moore's Service Year agenda. The company will also work closely with the University of Maryland to serve as a key employer of graduates, providing career exposure, student engagement, and support for programs.
“The truth is, our success has been powered by the people, partners, and community that welcomed us when we planted roots in Maryland,” says Cloudforce Founder and CEO Husein Sharaf. “When it came time to grow, we had every option on the table, including markets across state lines and across the country. We chose to double down here instead, because we’d rather strengthen the place that helped build us than start over somewhere new. That means more great jobs, deeper investment in this community, and a company culture rooted in bringing our people together in one place.”
The state says the company is also eligible for a $1.25 million conditional loan through Advantage Maryland, run by the Maryland Department of Commerce. Prince George's County Economic Development Corporation will also be offering an additional $125,000 conditional loan through its Economic Development Incentive Fund.
Cloudforce could also qualify for different state and local tax credits, such as the Job Creation Tax Credit, according to state officials.
