The Maryland Department of Commerce launched the Maryland Defense Diversification Assistance Program (MDDA) on Oct. 20, 2017, to help defense-dependent companies in Maryland enter new commercial markets in the United States and abroad. The Robert H. Smith School of Business at the University of Maryland (UMD) will support the program by offering business leadership and export training through its Center for International Business Education and Research (CIBER).
The MDDA program will help contractors enter new commercial markets, provide free export and business leadership training, and provide up to $10,000 for qualified applicants for subsidized consulting services. “Maryland is in the top five states for military spending in the U.S.,” noted Rebecca Bellinger, managing director of global initiatives and CIBER at the Smith School. “Defense contractors in the state are vulnerable to fluctuations in the federal budget, and this program intends to make these companies more stable by helping them understand how to adapt their products and production for commercial markets both domestically and abroad. Stability in this sector will support economic growth and job creation here in the state.”
CIBER will be organizing two training series for senior leadership of the companies that participate in the MDDA program. The export-focused series will include a variety of topic areas, including market analysis, strategies for international distribution, terms of sale, logistics, and export compliance. The business leadership series will include workshops on commercial accounting, marketing, risk analysis, and financial forecasting, among other topics.
To learn more about MDDA and whether or not your company is eligible, visit the Maryland Department of Commerce website. Applications are accepted through the end of September 2018.
This program is sponsored in part by the Center for International Business Education and Research (CIBER), a Title VI grant from the U.S. Department of Education.