The Maryland Department of Commerce has designated an enterprise zone in Brooklyn Park and Linthicum Heights – Anne Arundel’s first such zone. The designation authorizes provision of certain property and state income tax credits to businesses that create jobs and invest in the 1,600-acre zone.
From the Baltimore Business Journal:
Businesses located in Maryland’s 31 enterprise zones will receive roughly $45 million in property tax credits in fiscal year 2018 based on more than $3 billion in capital investments made in fiscal year 2017, according to the Department of Commerce. Over the past five years, businesses in Maryland’s enterprise zones have made a total of $13.5 billion in capital investments.
Julie Mussog, CEO of the Anne Arundel Economic Development Corp., said the county already has various revitalization and tax credit programs, and the enterprise zone credits give Brooklyn Park “more tools” to incentive businesses to come to the area.
Mussog said she views the enterprise zone as a continuation of the Greater Baybrook Vision and Action Plan that was implemented last year as part of County Executive Steve Schuh’s efforts to revitalize the area and improve unemployment.