Governor O’Malley Announces Re-designation, Expansion of two Maryland Enterprise Zones
BALTIMORE, MD – Governor Martin O’Malley announced that the State has approved the expansion of Baltimore City’s existing Enterprise Zone and the re-designation and expansion of the Salisbury-Wicomico Enterprise Zone, enabling these jurisdictions to provide businesses with income and property tax credits to help create and retain jobs. Last year, businesses located in the State’s 30 Enterprise Zones received $27.4 million in property tax credits, which have contributed to $2.38 billion in capital investment in Maryland businesses over the past 10 years.
“Maryland’s Enterprise Zones are one of our most powerful tools to help revitalize communities by sustaining existing businesses and attracting new businesses that create and retain jobs,” said Governor O’Malley. “The expansion of the Enterprise Zones in Baltimore City and Salisbury-Wicomico County will help spur development so these communities can better compete and win in the new economy.”