The Baltimore Sun reports the Maryland Department of Business and Ecconomic Development has approved a new state-designated enterprise zone in Baltimore County, as well as expansions in Baltimore City and Dorchester County. Under state law, enterprise zones are identified by the local government, and approved by the State agency for an array of joint state/county taxx incentives for developing businesses. From the article:
Revitalization will make outmoded buildings more attractive to the high-tech businesses that support federal agencies headquartered in Woodlawn and spur more economic development, officials said. Demand for space is growing in the area, where the Social Security Administration and Centers for Medicare and Medicaid Services together employ about 16,000 people with thousands more employed by contractors serving those agencies.
The county will undertake a study to make sure existing roads and utilities can support the expected industrial and commercial growth in the area. Officials have also pledged their support for transit-oriented development, notably the proposed Red Line light rail, a project that includes four Woodlawn stations.
Officials will push for fast-tracking of permits and inspections for redevelopment projects and will soon appoint a business representative to work with federal agencies and private developers.
The Baltimore City zone will grow by 112 acres to include the Jones Falls Reservoir area. The Cambridge site will add 507 acres to an existing 1,300-acre zone, state officials said.
For more information on the state/local partnership process to create enterprise zones, click here.
Read coverage from the Daily Record.