The Frederick County Council approved a measure during its meeting yesterday to create a manufacturing tax credit in the county. The program that would provide tax credits for up to 10 years for new and expanding manufacturing businesses.
As reported by the Frederick News-Post,
In a 5-2 vote, the governing body passed a commercial and industrial tax credit, which would be available to manufacturing, fabricating and assembly businesses currently in or looking to move to Frederick County that invest at least $5 million and create 25 full-time jobs.
Council President Bud Otis stressed the urgency in passing the tax credit Tuesday night to further attract two businesses that are considering expanding in or moving to Frederick County, and would qualify under the current legislation.
“To solidify the offers you are trying to make right now, it’s important for us to get this bill into law with the understanding that we will probably have some amendments” at a later date, Otis said.
As previously reported on Conduit Street, the City of Frederick passed a similar credit earlier this month.