Incentives
Enterprise Zones
Enterprise Zones
Approximately 3,600 acres in Washington County are within three state-designated Enterprise Zones. Local and state incentives are available to new or expanding companies in these zones to promote growth of the industrial and commercial base. Each Enterprise Zone is approved by the state for a ten-year period.
Enterprise Zone Incentives Available to Qualifying Businesses
Local Real Property Tax Credits: City and County property tax credits for up to ten years on capital investments.* Credit of 80% on increases in assessed value of real property for the first five years, decreasing by 10% annually for the remaining five years.
State Income Tax Credits: State income tax credits for creating new jobs. One time credit of $1,000 for most new jobs. Credits for hiring "disadvantaged" employees (vouchered by the State): first year, $3,000; second year, $2,000; third year, $1,000.
*Note: Businesses seeking local property tax credits must apply to the Economic Development Commission prior to completing the construction or rehabilitation project. Property tax credits may not be granted retroactively.
The following is a list of Hagerstown-Washington County's specific Enterprise Zones:
- Hancock Enterprise Zone
- Hagerstown Regional Airport Enterprise Zone
- City of Hagerstown/Washington County Enterprise Zone
Eligibility Requirements
To qualify for Enterprise Zone benefits, a business must be located within the zone and meet minimum requirements for job creation and for capital investment. In addition, there are restrictions on certain business types.
Minimum Capital Investment: (construction/rehabilitation of real property) $5,000 Airport Zone; Hagerstown's Central Business District. $50,000 Other zone areas.
Minimum Job Creation:(permanent, full time positions) 1 new job Airport Zone; Hagerstown's Central Business District. 5 new jobs Other Zone areas.