MD Paper Co. to Expand With Tax Credit
One of the nation's leading manufacturers of dry felt paper for construction and industrial uses, Maryland Paper Co., plans to expand its operations in Williamsport and will make use of property tax credits to help fund the expansion.
New Botanical Research Company Receiving Tax Credits in MD
Vitreon America, a company that researches how plants can be used to make medicine, is moving from Northern Virginia to Baltimore — and bringing with it 200 jobs. Vitreon will be eligible for the state's job creation tax credit and One Maryland tax credit as part of their move.
Gov. Hogan Talks Development in MD
Since he was elected, Gov. Hogan says that the state has invested $215 million toward Lower Shore projects, including $1 million toward downtown Salisbury's Main Street revitalization project. Other money has gone to school building projects in Wicomico County, the Salisbury wastewater treatment plant and Arthur W. Perdue Stadium. Hogan said he also has invested in repairing "crumbling" roads and 69 bridges across the state.
New MD Tax Credit Will Promote Energy Storage Systems
Maryland's Governor Hogan has signed into law a state income tax credit for specific costs related to energy storage systems installed between January 1, 2018 and December 1, 2022. Systems eligible for the credit are systems that are used to store electrical, mechanical, chemical or thermal energy that was once electrical energy to be used as electrical energy at another time or in a process that would offset electrical use at peak times of electrical use.
$15M Bel Air Reservoir Construction Expected to Start Soon with RLF Funds
Company officials said they expect to host a ground-breaking ceremony in mid-July behind Maryland American Water's treatment plant just south of Bel Air on Route 1 as workers start the company's $15 million water storage reservoir. The Company is obtaining money through the Maryland revolving loan fund to cover the cost of the intake project.
CGC Food Distribution Company Relocates to Howard County, MD
CGC Holdings, Inc., a food distribution company in Jessup, Md., recently completed construction and has moved into a new 160,000-square-foot building in Howard County. The company is eligible for various state and local tax credits, including Maryland's Job Creation Tax Credit.
MD EV Tax Credit Extended Three Years
The Maryland Clean Cars Act of 2017 (SB 393/HB 406) was signed into law by Governor Larry Hogan on May 4, 2017. This will extend the Electric Vehicle Tax Credit program through fiscal year 2020. The Electric Vehicle Tax Credit yearly funding will increase by over 30 percent.