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Tax Incentives - Enterprise Zones
Are you in the Rt. 1 or West Hyattsville Enterprise Zone? The only way to know for sure is to apply but you can get a pretty good idea of where you stand by checking out our maps . - Historically Underutilized Business (HUB) Zones
The HUB Zone Program stimulates economic development and creates jobs in urban and rural communities by providing Federal contracting preferences to small businesses. Are you in a HUB zone? Check here to find out. - High technology property tax credit
Eligible companies may receive a Real Property Tax Credit if they make at least a $500,000 investment in 5,000 square feet or more of real property that is newly constructed or substantially improved by, or for, them and create at least 10 new full-time positions over a period of three years. - Bio-Heating Oil Tax Credit
Businesses may claim a credit for each gallon of heating oil blended with biodiesel purchased for space or water heating. - Businesses that Create New Jobs Credit
Businesses located in Maryland that create new positions and establish or expand business facilities in the state may be entitled to a tax credit. - Cellulosic Ethanol Technology Research and Development Tax Credit
Businesses that incur qualified research and development expenses for cellulosic ethanol technology in Maryland are entitled to a tax credit. - Commuter Tax Credit
Maryland-based businesses that provide commuter benefits for employees may be entitled to a tax credit for a portion of the amounts paid during the taxable year. - Employer-Provided Long-Term Care Insurance Credit
Employers who provide long-term care insurance as part of an employee benefit package may claim a credit for costs incurred. - Job Creation Tax Credit
Businesses that expand or establish a facility in Maryland before January 1, 2013, resulting in the creation of new positions in the state may be entitled to a tax credit. - Job Creation and Recovery Tax Credit
Businesses operating or conducting business in Maryland that hire certain workers for newly-created or certain vacant positions in the State may be entitled to a tax credit. - Long-Term Employment of Ex-Felons Tax Credit
Businesses that operate in Maryland and hire one or more ex-felons during the period from January 1, 2007, through December 31, 2011, who are employed by the business for at least one year, may be entitled to a credit. - Maryland Disability Employment Tax Credit
Businesses that hire people with disabilities may be entitled to a tax credit for wages paid to the employees and for child care or transportation expenses paid on behalf of the employees. A person with a disability includes a veteran released from the armed forces for a service-related disability. The credit may be claimed for individuals hired before July 1, 2010. - One Maryland Economic Development Tax Credit
Certain businesses that establish or expand a business facility in a priority funding area or as part of a project approved by the Board of Public Works, and that are located in a "distressed" Maryland county, may be entitled to a tax credit for costs related to the new or expanded facility. - Research and Development Tax Credit
Businesses that incur qualified research and development expenses in Maryland are entitled to a tax credit. This credit is available for tax years beginning after December 31, 1999, but before January 1, 2011. - Sustainable Communities Tax Credit
A refundable credit may be allowed for substantial expenditures incurred to rehabilitate certified structures in Maryland on or after June 1, 2010, but before July 1, 2014. - Work-Based Learning Program Tax Credit
Businesses that hire students as part of an approved work-based learning program in the state may be entitled to a tax credit for a portion of the wages paid to the individuals.
Loan Guarantee Direct Loans - Maryland Economic Development Assistance Authority and Fund (MEDAAF)
Provides targeted financial assistance to select projects located within a priority funding areas and in the defined eligible industry sectors.
(410) 767-2369 - Maryland Economic Adjustment Fund (MEAF)
Assists small business entities in the state with modernization of manufacturing operations, the development of commercial applications for technology, and exploring and entering new markets.
(410) 767-6356 - Maryland Small Business Development Financing Authority (MSBDFA)
Provides financing for small businesses that are not able to qualify for financing from private lending institutions or owned by socially and economically disadvantaged persons.
(410) 333-4270 - TEDCO – Working Capital Loan Fund (WCLF)
Provides loans to early stage technology-oriented companies located in the state of Maryland. Loans of between $15,000 and $50,000 are available to be used for working capital in order to assist a company with expansion, market entry, or other initiatives.
(410) 740-9442
(800) 305-5556 - U.S. Small Business Administration CDC/504 Program (Maryland)
The CDC/504 loan program is a long-term financing tool for economic development within a community. The 504 Program provides growing businesses with long-term, fixed-rate financing for major fixed assets, such as land and buildings.
(410) 962-6195
The following Certified Development Companies administer the 504 program in Maryland:
- Department of Housing and Community Development (DHCD) – Neighborhood Revitalization Program
Is committed to empowering communities through its 12 programs for loans, grants, technical assistance & tax credits. Assistance through the Division of Neighborhood Revitalization is designed to serve as a tool for communities, business & organizations to leverage additional funding from investors, foundations & local governments.
(410) 514-7288 - DHCD – Maryland Linked Deposit Program
Reduces the interest rate on loans they obtain from participating banks. Certified MBEs that notify the Maryland DHCD prior to obtaining qualifying loans from enrolled financial institutions may be able to receive a 2% discount on their loan(s).
(410) 514-7245 - DHCD - Neighborhood Business Works Program
Provides flexible gap financing in the form of below-market interest rate loans to small businesses and nonprofit organizations locating or expanding in locally designated neighborhood revitalization areas.
(410) 209-5808
Equity investment - Maryland Venture Fund
Makes direct investments in technology and life science companies and indirect investments in venture capital funds. The Fund has two investment vehicles: the Challenge Investment Program and the Enterprise Investment Fund.
(877) 821-0099 - Equity Participation Investment Program’s (EPIP)
To enhance business ownership of socially or economically disadvantaged entrepreneurs, financial assistance through loans, loan guaranties and equity investments. To be used for purchasing a franchise, acquiring an existing profitable business or developing a technology based business.
(410) 333-4270
Technology Transfer and Collaborative Funding Programs - TEDCO - Maryland Technology Transfer Fund (MTTF)
Provides funding for Maryland companies who wish to develop technology-based products and/or services in collaboration with the Universities and/or Federal Laboratories in Maryland
(410) 740-9442
(800) 305-5556 - TEDCO - BRAC Technology Transfer Initiative (BTTI)
The Maryland Technology Development Corporation’s BTTI seed stage investment program is a component of the Maryland Technology Transfer Fund (MTTF). MTTF provides funding for seed stage companies working with either one of the federal or universities laboratories in Maryland.
(410) 740-9442
(800) 305-5556 - TEDCO - Fort Detrick Technology Transfer Initiative (FDTTI)
Facilitate transfer of technology development projects to be considered within the scope of the FDTTI if the company can show how the proposed technology will meet the technology needs of USAMRMC (Spin-In) and/or the commercialization of USAMRMC technologies.
(410) 740-9442
(800) 305-5556 - TEDCO - Johnson & Johnson Joint Investment Program
A component of the Maryland Technology Transfer Fund (MTTF), a seed stage fund for companies working with either one of the federal laboratories or universities in the state of Maryland.
(410) 740-9442
(800) 305-5556 - Maryland Industrial Partnerships (MIPS)
Accelerates the commercialization of technology in Maryland by jointly funding collaborative R&D projects between companies and University System of Maryland faculty.
(301) 405-3891
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