Kent County Commissioners and Chestertown Council members heard public testimony on a proposed Enterprise Zone that would provide economic benefits to both jurisdictions.
As reported on My Eastern Shore MD:
Jamie Williams, county coordinator of economic development, summarized the application process and the benefits to the economy. The zone would provide income and property tax credits for 10 years to landowners and businesses that create new jobs in the targeted area. The town and county could be reimbursed for as much as 50 percent of the taxes they would have received. Businesses also receive credits for each new employee earning 1.5 times the national minimum wage.
The proposed zone would comprise 698 acres, almost equally divided between Chestertown and the county. The entire area is designated for priority funding. The town and county economic development offices will administer applications for the credits, Williams said.
Commissioner Bill Short described the proposal as “a win-win” for the county and town. He said it was one of many good things happening in the county right now. “I hope everybody gets behind it,” he said.
Commission President William Pickrum said the zone would bring benefits to the entire county. “A rising tide lifts all boats,” he said.
The article notes the jurisdictions plan to move forward with the applications for the joint zone which are due in early April.
For more information read the full article on My Eastern Shore MD.