- Your Government
- Economic Development
- Revitalization & Incentives
Revitalization & Incentives
|Main Street Maryland 1998
||Strengthen the economic potential of Maryland’s traditional main streets and neighborhoods. [map]
||Technical assistance and organizational support to help improve the economy, appearance and image of the downtown business district. Priority consideration on funding applications for DHCD programs as well as other State agency programs.
|Neighborhood BusinessWorks 1995
||Revitalize Maryland’s traditional neighborhood business districts by helping to create new neighborhood amenities and services through flexible gap financing of small businesses in targeted areas. [map]
||Low-interest loans on flexible terms (ranging from $25,000 to $500,000) for up to 50 percent of a project's total cost.
|Maple Street 2007
||Maple Street initiatives encourage residential revitalization projects near the business district that strengthen the relationship between downtown commercial districts and the surrounding neighborhoods. [map]
|Maryland Smart Site 2009
||Smart Sites are site-specific capital projects that encourage public and private investment and green building practices in existing Maryland communities. [map]
||-Strengthen public and private partnerships at the local level that leverage substantial private investment in appropriate growth areas.
-Educate about the range of exemplary growth and revitalization projects and partnerships in progress in communities throughout Maryland.
-Coordinate State, local and private investment in targeted growth and revitalization areas, including BRAC zones, TOD sites, Main Streets and Community Legacy communities.
|Maryland Heritage Areas 1996
||Maryland’s Heritage Areas are locally designated and State certified regions where public and private partners make commitments to preserving historical, cultural and natural resources for sustainable economic development through heritage tourism. [map]
||Low interest loans, grants and tax credits for non-capital heritage tourism projects. Capital project grants are available in designated Target Investments Zones within a certified heritage area.
|Maryland Rehabilitation Tax Credit 1996
||MHT||Make the adaptive reuse of historic buildings economically possible and contribute to local area revitalization and economic development.||Provides residential and commercial building owners with a 20 percent state tax credit toward the cost of “certified rehabilitation” of properties.|
|One Maryland Tax Credit Program
||Promote business investment and job creation within economically distressed areas. [map - Dorchester]
||Businesses that invest in an economic development project in a qualified distressed county, such as Dorchester, may qualify for project tax credits of up to $5 million and start- up tax credits of up to $500,000.
|Enterprise Zones 1982
||The Enterprise Zone Program was established as an economic development tool to stimulate job creation and business investment in designated zones of the state. [map]
||Certified businesses locating in a Zone may be eligible for income and real property tax credits in return for job creation and investments in the community.
|Arts and Entertainment Districts 2001
||Spur economic revitalization and authentic local experiences through creation and support of artist/culture-centered communities. [map]
||- Local property tax credits that create live-work space for A&E enterprises.
- State income tax benefit on sales of artistic work by qualified resident artists.
- Admissions and Amusement tax exemption
|Maryland Job Creation Tax Credit
||Job creation [map - Dorchester]
||Maryland's Job Creation Tax Credit program provides income tax credits to businesses that create new jobs to encourage them to expand or relocate in Maryland.
|Priority Funding Areas 1997
||Priority Funding Areas are existing communities and places where local governments want State investment to support future growth. [map]
||The Priority Funding Areas Act capitalizes on the influence of State expenditures on economic growth and development such as highways, sewer and water construction, economic development assistance, and State leases or construction of new office facilities.
|HUB Zone 1997
||The Historically Underutilized Business Zone (HUB Zone) Empowerment Contracting Program is designed to stimulate economic development and create jobs in urban and rural communities by providing federal contracting preferences to small businesses. [map - Dorchester]
||A full and open competition contract can be awarded with a price evaluation preference. The offer of the HUBZone small business will be considered lower than the offer of a non- HUBZone / non-small business-providing that the offer of the HUBZone small business is not more than 10 percent higher.