BALTIMORE (AP) — Maryland Gov. Larry Hogan is launching a new economic development strategy focusing on further developing the life sciences and cybersecurity industries.

Hogan announced the plan called Excel Maryland at the first Governor’s Business Summit on Thursday in Baltimore.

A steering committee will include state officials in partnership with Johns Hopkins University and the University System of Maryland. Excel Maryland will focus on developing collaborative strategies. It will be led by Susan Bannister, who is the founding president and CEO of the Massachusetts Life Sciences Center.

Hogan says the initiative will help accelerate growth in areas where Maryland already leads, including life sciences and cybersecurity. The Republican governor says it builds on his mission to demonstrate that Maryland is “open for business.”

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