Page 3 - October 2021 Issue.indd

“Legacy Programs” Provide The Enterprise Zone program is a Maryland Department of
Commerce tool to grow existing businesses, create jobs, and
Relief to Local Businesses revitalize communities. The Enterprise Zone benefits can
spur business growth through property improvements and
By Debbie Bowden, Director expansion and job creation. The beautiful thing about this

Caroline County Economic Development program is current and new businesses can take advantage of it.

Companies that invest in their buildings or land could realize
Since the start of the pandemic, more

significant savings on the property tax on the new value of
businesses have looked into – and taken

those improvements. The property tax credit portion of the
advantage of – incentives and grants
program is a tiered reduction in property taxes on newly
than before. It was our pleasure to

assessed value after an improvement. Companies that create at
move out over $2.4 million in grants
least five new jobs could get up to $1,000 per job state income

to Caroline County businesses over the
tax credit.
last 18 months. The programs are not as

prevalent now at the federal, state, or local level, but there are The program is a partnership between the State of Maryland,

what I like to call “legacy programs” that can provide some which provides reimbursement of the benefits, and the County
relief to local businesses. and Towns. The program is administered by the Caroline
County Economic Development. A business must become
One program, the Enterprise Zone program, provides growing certified by the County and meet certain eligibility requirements

businesses with an opportunity to save on property taxes when to take advantage of the benefits. More information on the

significant property improvements are made and income tax program and certification is available at carolinebusiness.com.

credit when new positions are created. The Enterprise Zone

program is a geographic based incentive program; commercial For updates on any future business support, please visit
and industrial parcels in two zones have been designated carolinebusiness.com, sign up for our newsletter, and follow
as eligible for consideration of incentives. Th e Federalsburg Caroline County Economic Development on Facebook.
Enterprise Zone was established in 2015 and includes parcels
in the industrial parks and commercially zoned parcels in town. Caroline County Economic Development is a department within
The North County Enterprise Zone was established in 2018 and Caroline County government. Its mission is to help businesses

covers eligible parcels in Ridgely, Greensboro, and Goldsboro. thrive in the community. Debbie can be reached at 410-479-4188
or info@carolinebusiness.com
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