Queen Anne’s County offers competitive local incentives for its businesses. These incentives include the commercial real property tax credits, loans, and grants. These incentives can be used in conjunction with or to leverage funds through programs available from the Maryland Department of Commerce, the Maryland Department of Labor, Licensing and Regulation, and the Maryland Department of Housing and Community Development.
QAC Economic Development Incentive Fund (EDIF) Program: The EDIF program is available to individuals/businesses interested in starting a new business, expanding an existing business, or relocating operations to Queen Anne’s County. Strong consideration is given to those businesses that fall within the following industry profiles: Advanced Manufacturing, Agriculture and Seafood, Technology, and/or Hospitality/Tourism. Projects must demonstrate significant economic impact – such as job creation and retention, increase in production, and/or potential for a niche market. They must also be consistent with the County’s development land use goals, and economic development priorities. The business must be physically located within the geographic boundaries of Queen Anne’s County, although residency is not required of the business owner(s). Applicants must provide a demonstrated need for the funding. Request for funding through this program are reviewed at the sole discretion of the Queen Anne’s County Economic Development Incentive Fund Commission, with disbursement authorization by the County Commissioners, as program funding is available.
Open Seas Coffee, and Roszell Coffee Roasters located in Stevensville received funding to increase roasting capacity through the Economic Development Fund Program. Learn more about Open Seas Coffee
QAC Revolving Loan Fund (RLF): New and expanding businesses located in the county are eligible to apply for low interest loans. The loans are made in accordance with the program guidelines. The fund provides access to capital for business development, start-up, strategic expansion and for vineyard establishment. Requests for funding through this program are reviewed at the sole discretion of the Economic Development Commission, with disbursement authorization by the County Commissioners, as program funding is available. Loan amounts range from $50,000 to $100,000 and can be used for real estate acquisition and/or improvements, equipment, and working capital associated with the project. Funds can be used to leverage conventional loans or loans from intermediary lenders such as Maryland Capital Enterprises, The VOLT Fund, and Maryland Agricultural Resource Based Industry Development Corporation (MARBIDCO).
Companies that participate in the QAC RLF program include ShoreScan Solutions and BlackWater Distilling. Recipients will be required to receive mentoring from the local chapter of SCORE.
QAC Enterprise Zone: The EZ program provides real property and state income tax credits for businesses located in a Maryland enterprise zone in return for job creation and investments. Eligible projects can receive a 10 year Real Property Tax Credit based on the increase in the assessed value as a result of new construction, redevelopment, and renovation. Certified eligible businesses receive job creation tax credits. There is no minimum number of jobs required nor is there a minimum investment. To see if a property is within the designated Enterprise Zone, visit the Incentive Zone Interactive Map.
QAC Commercial Real Property Tax Credit: The county offers eligible businesses, located outside of the QAC Enterprise Zone a property tax credit. To be eligible the property investment needs to be $25,000 or more in real property improvements, and a minimum of 12 new full time jobs are created within two years as a result of the project. The credit is prorated over four years against the increased assessed value at 80% (Year 1), 60% (Year 2), 40% (Year 3) and 20% (Year 4). Tax credit is awarded at the discretion of the County Commissioners.
Foreign Trade Zone: Queen Anne’s County is within the service area of the Baltimore No. 74 Foreign Trade Zone (FTZ). Baltimore FTZ #74 was established in 1982 and has been continually expanded and modified due to various requests for additional space. Zone space, originally 60,000 square feet, currently includes more than 900 activated acres at multiple sites in the Baltimore-Towson MSA. In 2017 the Zone served 193 businesses employing 659 people. Over $11.3 billion worth of goods were transferred to U.S. Customs’ Territory and $397 million in merchandise was exported from the FTZ to international markets.
Arts and Entertainment Tax Credits: Qualifying businesses located in the Historic Stevensville A & E District can apply for and receive tax credits from amusement and admissions tax, and sales and use taxes. A real property tax credit is available for renovations or new construction that creates space capable for use by qualifying residing artists.
Job Creation Tax Credit: The State of Maryland, through the Department of Commerce, offers a Job Creation Tax Credit (JCTC) for companies within specific industries creating new jobs. The business facility must be certified as having created a minimum number qualified positions. Companies must declare intent prior to any job creation.
For more information about this and other employment based job credits, click here.
For a complete list of tax credits for businesses, including More Jobs for Marylanders, click here.
Property Assessed Clean Energy (PACE): Queen Anne’s County adopted the PACE program to allow businesses to access up front financing for energy efficient improvements on commercial properties. Payments are made as a surcharge on the tax bill, and transfer with property ownership.
For more information, please click here.