Senate Bill 1104 would expand State economic development benefits to communities that share a zip code with distressed economic areas that are currently eligible for the benefits. Local governments have a vested interest in ensuring that “distressed” areas receive aid in achieving long-term economic growth. Counties understand that these economically distressed areas are not limited by county lines, and this legislation takes that into account.
MACo submitted written testimony in support of SB 1104, “Economic Development – More Jobs for Marylanders – Tier I Eligibility”, to the Senate Finance Committee on March 20, 2018.
From MACo Testimony:
Local governments, just as the State, have a vested interest in economic development. Local economic growth creates jobs and increases salaries, expanding the tax base both locally and statewide. Counties promote economic development through their own programs and coordinate with the State to attract and retain businesses where most beneficial to our economy.
SB 1104 offers a reasonable recognition that a “distressed area” may not strictly be confined within political boundaries, and creates some flexibility in targeting them in distressed areas spilling across county lines.”
For more on this and other legislation, follow MACo’s advocacy efforts during the 2018 legislative session here.