Gov. O'Malley announces new tech investment plan to spur business, jobs in Maryland

At remarks made this morning at a conference in Rockville, Gov. Martin O'Malley was expected to announce an administrative and legislative initiative to spur venture capital investment in Maryland's technology sector.

The program is called "InvestMaryland" and it will be run by the Maryland Department of Business and Economic Development.

The governor called it "a public-private partnership to fuel venture capital investment in our innovation economy, such as bioscience companies," according to prepared remarks given to The Baltimore Sun.

How will it work? According to O'Malley:

I expect to get more details today on this plan from the officials at DBED. Stay tuned.