Cash Incentives and Low-Interest Bonds Available for Your Next Project
For companies that are ready to relocate or expand, now could be an opportunity to jumpstart their business growth.
Washington County, Maryland recently unveiled the
'Cash for Job Creation' or
Job Attraction and Creation Program (JAC), which focuses on creating long term jobs by attracting new businesses to the area, and encouraging existing companies to add positions locally.
A minimum of $1500 cash will be granted per new job created.
In addition, the State of Maryland granted Washington County approximately
$14 million in Recovery Zone Facility Bonds (RZFB), which is a tax-exempt private financing program. The Hagerstown-Washington County Economic Development Commission (EDC) is now accepting proposals for both programs.
"Both programs could be a great resource for companies to utilize when expanding or relocating their businesses,” said Timothy R. Troxell, CEcD, executive director of the EDC. “The
RZFB incentive complements the recently enacted
Job Attraction and Creation (JAC) program, a local incentive package that offers at least $1,500 cash for each new job created, fee reductions, fast track permitting, and more. Both the
RZFB and
JAC programs are time sensitive, so interested parties should apply early."
Several local businesses are in the application stage. Companies outside of the local area are encouraged to apply as well. See below for more information.
More About the Programs
'Cash for Job Creation' JAC Program (application due ASAP)
$1,500 cash incentive per new job created, permitting fee reductions, and more
Recovery Zone Facility Bond Program (proposal due by March 17, 2010)
Tax-exempt private financing
To apply for either program, please contact the EDC at 240-313-2280 or email EDC Executive Director Timothy R. Troxell, CEcD at ttroxell@hagerstownedc.org. To learn more about the EDC, go to http://www.hagerstownedc.org.
1/27/2010
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