Maryland was a pioneer in the development of enterprise zones. It was the third state to enact its own Enterprise Zone Program, and one of the first states to designate zones. Enterprise Zones in the state offer an attractive loation alternative for industrial and commercial businesses.
Garrett County has two Enterprise Zones: (1) the Southern Garrett Enterprise Zone comprised of the County's Southern Garrett Industrial Park and Southern Garrett Business & Technology Park; and (2) the Northern Garrett Enterprise Zone comprised of the County's Northern Garrett Industrial Park.
Businesses located in an Enterprise Zone may be eligible for income tax and real property tax credits (see below) in return for job creation and investments.
Real Property Tax Credit
Ten-year credit against local real property taxes on a portion of real property improvements. Credit is 80% the first five years, and decreases 10% annually to 30% in the tenth and final year.
Income Tax Credit
Receive a one-time $1,000 credit per new worker. For economically disadvantaged employees, the credit is $6,000 per employee over three years.