“The tax credits offered by the Enterprise Zone designation are a vital instrument in Kent County’s toolbox to expand and attract businesses. When Chestertown received its Enterprise Zone designation in 2016, it helped to attract approximately $40 million in capital investment and added jobs in the community,” said Tom Mason, president, Kent County Commissioners. “We look forward to working with the Town of Rock Hall and Maryland Commerce to continue the revitalization efforts within the business community.”
According to a Maryland Department of Commerce press release:
The new Enterprise Zone has a 10-year term, and is a joint effort between state and local governments, providing real property and state income tax credits for businesses that create jobs and make capital investments.
In applying for the designation, the county’s goal was to attract well-paying job opportunities, draw new investors, and assist business owners currently along Rock Hall’s Main Street corridor. The county is working to boost economic growth in the area, including recently partnering with Kent Fiber Optic Systems to build a fiber-optic broadband network throughout the county. In addition, Main Street Rock Hall has received its 501(c)3 designation, a Sustainable Community designation from the Maryland Department of Housing and Community Development, and more than $100,000 in grants from the agency for façade and streetscape improvements.
The Maryland Department of Commerce is responsible for approving the State’s Enterprise Zones, while local governments are responsible for their administration. There are currently 36 Enterprise Zones across 19 jurisdictions in Maryland.