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Incentives

Related Information

Incentives : Tax Credits : Enterprise Zones

Enterprise Zones

Approximately 3,600 acres in Washington County are within three state-designated Enterprise Zones.  To help promote growth of the industrial and commercial base, local and state incentives are available to new or expanding companies in these zones. 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.
  • The credit is a one-time maximum 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 Enterprise Zones:

City of Hagerstown/Washington County Enterprise Zone
Renewed by the State of Maryland in 2002, this zone encompasses approximately 1,400 acres, including 1,200 acres within the City of Hagerstown and 200 contiguous acres in Washington County. The Washington County Business Park, CSX Valley Park, the City of Hagerstown Business Park, and the Central Business District in downtown Hagerstown are all located within the zone.

Hagerstown Regional Airport Enterprise Zone
Renewed in 2004, this 700-acre zone includes the Hagerstown Regional Airport, Bowman Air Park Center at Hagerstown, Topflight Airpark, the Washington County Business Airpark, and several commercial properties along U.S. Route 11.

Hancock Enterprise Zone
Approved in 2005, this 1,500-acre zone surrounds the Town of Hancock, stretching from the Pennsylvania border down to the Potomac River. The zone includes commercial and industrial development opportunities in select areas of town as well as commercial frontage along Main Street.

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)

  • City of Hagerstown / Washington County Enterprise Zone
      • Hagerstown's Central Business District - $5,000 + capital investment
      •  Outside Central Business District - $50,000 + capital investment
  • Hagerstown Regional Airport Zone - $5,000 + capital investment
  • Hancock Enterprise Zone – $5,000 + capital investment


Minimum Job Creation: (permanent, full time positions)

  • City of Hagerstown / Washington County Enterprise Zone
      • Hagerstown's Central Business District – 1 new job created
      • Outside Central Business District – 5 new jobs created
  • Hagerstown Regional Airport Zone – 1 new job created
  • Hancock Enterprise Zone – 1 new job created
 

 

 

 




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