Mary­land Com­merce des­ig­nates county’s first En­ter­prise Zone

Record Observer - - News -

CENTREVILLE — The Mary­land De­part­ment of Com­merce has des­ig­nated Queen Anne’s County as a new En­ter­prise Zone, a move that could bring new busi­ness in­vest­ments and jobs to the county.

The new Queen Anne’s County 1,300-acre En­ter­prise Zone ex­tends west from Nes­bit Road in Gra­sonville to Route 8 in Stevensville and in­cludes a ma­jor­ity of the com­mer­cial prop­er­ties in Gra­sonville, Ch­ester and Stevensville, in­clud­ing the busi­ness parks. With this des­ig­na­tion, the county will be able to pro­mote job cre­ation for lo­cal res­i­dents who cur­rently com­mute out the county to work and bet­ter at­tract and re­tain busi­nesses and help them ex­pand, ac­cord­ing to a state­ment from the county com­mis­sion­ers.

The county also hopes to in­crease the com­mer­cial tax base and re­de­velop un­der-uti­lized or va­cant com­mer­cial and in­dus­trial land. This is the county’s first En­ter­prise Zone, and the ef­fec­tive date is Jan. 1.

“The En­ter­prise Zone is a valu­able in­cen­tive not only to at­tract new busi­nesses, but also to help ex­ist­ing busi­nesses to grow in a prime ge­o­graphic lo­ca­tion con­ducive for com­mer­cial in­fill and re­de­vel­op­ment op­por­tu­ni­ties,” said Jean Fabi, act­ing direc­tor of the Queen Anne’s County De­part­ment of Eco­nomic Devel­op­ment. “By pro­vid­ing state and lo­cal in­cen­tives, Queen Anne’s County is send­ing a clear mes­sage that it is open for busi­ness.”

County Com­mis­sioner Jack Wil­son said, “Con­grat­u­la­tions to Jean Fabi and ev­ery­one that helped to make this hap­pen. This will be a great cat­a­lyst to help move for­ward eco­nomic devel­op­ment in the des­ig­nated zone.”

Mary­land Com­merce Sec­re­tary Mike Gill said, “This pro­gram gen­er­ates op­por­tu­ni­ties in ev­ery re­gion of Mary­land by help­ing to grow ex­ist­ing busi­nesses, at­tract­ing new busi­nesses and cre­at­ing jobs.”

Busi­nesses lo­cated in the state’s 29 En­ter­prise Zones have re­ceived roughly $32 mil­lion in prop­erty tax credits in Fis­cal Year 2017 based on more than $2.8 bil­lion in cap­i­tal in­vest­ments made in Fis­cal Year 2016. Over the past five years, busi­nesses in Mary­land’s En­ter­prise Zones have made a to­tal of $13.7 bil­lion in cap­i­tal in­vest­ments.

Com­merce ap­proves the state’s En­ter­prise Zones, while lo­cal gov­ern­ments are re­spon­si­ble for their ad­min­is­tra­tion. Busi- nesses op­er­at­ing within an En­ter­prise Zone may be eli­gi­ble for a tax credit to­wards their state in­come tax fil­ings based upon the num­ber of new jobs cre­ated, and a tax credit on their lo­cal real prop­erty taxes based upon their over­all cap­i­tal in­vest­ment into a prop­erty.

“I want to thank the Eco­nomic Devel­op­ment Com­mis­sion and the county com­mis­sion­ers for sup­port­ing of the cre­ation of the En­ter­prise Zone and the tax credit pro­gram,” Fabi said. “Mov­ing for­ward, this will be a valu­able tool to boost in­vest­ment in re­de­vel­op­ment and in­fill com­mer­cial projects, as well as cre­at­ing em­ploy­ment op­por­tu­ni­ties for Queen Anne’s County res­i­dents.”

Fabi said the county’s web­site, www.qac.org, will soon have a page de­voted to En­ter­prise Zone ma­te­rial and it will in­clude in­for­ma­tion about the Com­mer­cial Prop­erty Tax Credit and In­come Tax Credit, as well as the ap­pli­ca­tion.

“In ad­di­tion, I will be per­son­ally reach­ing out to the cur­rent projects un­der­way that would be eli­gi­ble for the pro­gram,” Fabi said.

Fabi can be reached at jfabi@qac.org or 410-758-1255 or on Face­book at Queen Anne’s County Eco­nomic Devel­op­ment.

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