Baltimore businessman and Maryland gubernatorial candidate Mike Rosenbaum on Thursday released an economic plan that would help 250,000 residents not only secure stable employment, but also provide childcare incentives. children and increase travel options for specific jobs.
The residents would be the unemployed or underemployed people in a program called “Transform Maryland 2030” with careers focused on tech, healthcare, manufacturing and commercial jobs.
Rosenbaum said in an interview that anyone participating in the program would receive a “forgivable loan” of $ 2,000 while undergoing vocational training and apprenticeship. When a person begins a skills development or apprenticeship program, he or she receives an hourly wage of at least $ 15.
The goal would be for each person to enter a career in the first four years of the program and increase salaries by more than $ 38,000 on average per year.
He said the plan sums up the work he has done with the software companies he founded, Catalyte and Arena, which help assess, process and create thousands of jobs across the country.
“Maryland has a worse unemployment rate than 39 other states. At the same time, today we have 100,000 jobs open in industries that offer a path that earns up to $ 65,000 a year without a college degree, ”he said. “We need people to exercise their superpowers. Talent can be unlocked for everyone.
The plan proposes that parts of it be paid for through President Joe Biden’s “Build Back Better” plan and through the US bailout.
In addition, the state projects a budget surplus of $ 5 billion by 2023 that could help cover some upfront expenses to help cover a person’s health insurance and child care.
With more people able to work, Rosenbaum said it would require less state economic support, which could free up at least $ 2 billion.
Another part of the proposal would help fund public transport which includes dedicated funding for Metro.
This would help residents who live near Metrorail stations and ensure reliable and safe transportation for them, he said. The proposal describes how program participants would benefit from free public transport during their participation and for another year after completion.
But he said accountability and transparency at agencies such as Metro remain key to restoring public trust.
“One of the things that I find mind-boggling is the lack of transparency and accountability that exists in some quasi-public entities. If I had run private companies that seem to exist in some quasi-public entities, I would have gone bankrupt in a minute, ”he said. “We [must] make transparency and accountability part of our investment. This is the central point. “
Rosenbaum is among a crowded group of eight other contenders for the Democratic nomination. The official deadline for submissions before the June 28 primary is February 22.
To view Rosenbaum’s plan, go to mikerosenbaum.com/jobs.