Preserving Agricultural Land in MD Reaping Rewards for Farmers
The State of Maryland and its more rural counties have made efforts to find some balance by providing incentives to farmers for preserving agricultural land and our rural areas. Agriculture still remains an important industry in the State of Maryland, so the State has found ways to encourage and sustain the agriculture industry while providing financial assistance and incentives to farmers to preserve farmland for those important agricultural uses and benefits.
MD Tax Credits Helping Electric Cars Grab Larger Share of Market
Federal and Maryland state tax incentives and tax credits for both EVs and charging installations are substantial and are causing the market for vehicles change in the state.
CDFA National Summit Call for Submissions
CDFA is accepting session submissions for the 2017 National Development Finance Summit in Atlanta this November. Session submissions on deals, projects or programs that include multiple funding sources are highly encouraged. Submissions are due by May 12, 2017.
Developers Protest $51M in Public Funding for Downtown Columbia Garage
Four developers with projects in Howard County are challenging the county's authority to use tax increment financing to help Howard Hughes Corp., Columbia's master developer, to finance a $51 million garage for public and private use. The Howard County Council approved the publicly funded garage as part of a $90 million deal in November.
MD Passes Legislation to Give Write-Offs for Manufacturing Equipment
The Maryland General Assembly included one-year write-offs of manufacturing equipment for tax purposes in its end-of-session legislative rush. This was part of Gov. Hogan's job creation initiative, attached to better-known provisions allowing for special tax incentives for manufacturing in less prosperous areas of Maryland, including parts of Baltimore, Western Maryland and the Eastern Shore.
MD Energy Storage Tax Credit: Gaining Momentum Across America?
The General Assembly of Maryland just passed a bill that would provide a 30% tax credit to those who chose to utilize energy storage technology, making it the first state in the country to pass such legislation. The funds provided by the bill would last from 2018 to 2022.
MSI Receives $100K MD Conditional Loan for Expansion
Manufacturing Support Industries, Inc. (MSI) a manufacturer of precision components for the defense industry, is expanding its operations in Salisbury. To assist with project costs, the Maryland Department of Commerce has approved a $100,000 conditional loan through the Maryland Economic Development Assistance Authority and Fund (MEDAAF). The company is also eligible for various tax credits including Maryland's Job Creation Tax Credit.
DWE Relocating Headquarters to Belcamp with MD $120K Conditional Loan
D. Wheatley Enterprises, Inc. (DWE) is relocating its headquarters and manufacturing operations to Belcamp in Harford County and adding 40 new jobs over the next four years. To assist with project costs, the Maryland Department of Commerce has approved a $120,000 conditional loan through the Maryland Economic Development Assistance Authority and Fund (MEDAAF)
Urban Food Policy Snapshot: Baltimore Food Desert Incentive Area
Baltimore's Food Desert Incentive Area property tax credit aims to reduce overhead costs so opening a grocery store in a food desert, which typically have between 1 and 1.5 percent profit margins no matter where they operate, can more likely be profitable.