Second county enterprise zone could be created
DENTON — Parts of three towns in northern Caroline County could soon make up a new “enterprise zone,” a state-designated area offering tax credits to businesses to encourage capital improvements and job creation.
Debbie Bowden, director of the Caroline County Economic Development Corporation, appeared at the Caroline County commissioners’ meeting Tuesday, Oct. 9, to request they sign a resolution supporting an application for the North County Enterprise Zone.
The commissioners voted unanimously to sign the resolution, adding their support to that of the governments in the three potentially affected towns: Ridgely, Greensboro and Goldsboro.
Bowden said the Maryland Department of Commerce should notify her by the end of the year whether or not the application has been approved.
If approved, it will be the second enterprise zone in the county; the first one was created in Federalsburg in 2015.
Bowden said any business within the designated zone that makes at least $100,000 in capital improvements will receive local and county tax credits, which will be reimbursed by the state.
Additionally, any business that creates at least five jobs will get an income tax credit, Bowden said.
The program will be managed locally by Bowden’s office, she said.
Her office will also handle marketing the program and its tax incentives, to both encourage existing businesses to grow and attract new ones to the area.