Local Business Incentives
QAC Economic Development Incentive Fund (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.
QAC Revolving Loan Fund (RLF): New and expanding businesses located in the county are eligible to apply for low interest loans. 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).
For additional information on program availability please call 410-604-2100
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.
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, click here.
Queen Anne’s County Enterprise Zone- A geographically designated area wherein investments in commercial development and redevelopment and job creation are eligible to receive tax credits. This zone includes a majority of the Planned Growth Areas of Grasonville, Chester, and Stevensville, including the Chesapeake Bay Business Park, Matapeake Professional Park and the Thompson Creek area. Infrastructure exists to support new, infill and redevelopment of commercial property. Eligible commercial projects within the Enterprise Zone can be certified to receive a commercial real property tax credit prorated over 10 years. Eligible businesses operating within the Enterprise Zone can receive income tax credits for the creation of full-time jobs. The following uses are not eligible: fast food restaurants, convenience stores, stand-alone gas stations, adult entertainment and gambling facilities.
To see if a property is within the designated Enterprise Zone, visit the Incentive Zone Interactive Map
- There is no minimum on the number of employees to meet the necessary qualifications.
- Must have been hired after the date on which the Enterprise Zone was designated or the date on which the business relocated in the Enterprise Zone, whichever is later.
- Must be filling a new position or replacing an employee who was previously certified as economically disadvantaged.
- Must have been employed at least 35 hours a week for at least six months.
- Must be paid at least 150% of the federal minimum wage throughout his or her employment by a business entity before or during the taxable year for which the entity claims a credit.
- Must have spent at least half of his or her working hours in the Enterprise Zone or on activities directly resulting from the business location in the zone.
- Must be a new employee or an employee rehired after being laid off by the business for more than one year.
Once/if a business has been certified, the credits can be claimed upon filing a Tax Return using Form 500CR and a copy of the Certification Letter
Queen Anne’s County Opportunity Zone is Census Tract 24035810300 which is designated to receive private investments through opportunity funds. Opportunity funds are certified by the Treasury to aggregate and deploy capital for eligible users defined as Opportunity Zone Property.