BALTIMORE — Governor Wes Moore recently announced that the Maryland Department of Commerce has approved three new Enterprise Zones – Woodlawn in Baltimore County; the towns of Betterton and Worton in Kent County; and the town of Snow Hill in Worcester County. The department also approved the redesignation and expansion of an existing zone in the town of Princess Anne, and has approved the redesignation of existing zones in Baltimore County’s Southwest area, Cecil County and the city of Cambridge in Dorchester County.

Cambridge and Dorchester County are continuing efforts to attract private investment and employment opportunities, specifically businesses in the manufacturing, warehousing, research and development, retail and tourism industries, as well as corporate or regional services. 

“Enterprise Zones are among a series of tools we can use to attract difference-making jobs to rural communities like Dorchester County and Cambridge,” said Brandon Hesson, assistant city manager and director of development for the city of Cambridge. “With tools like the Enterprise Zone, we are confident we can improve wages across our community and improve quality of life.”

“Maryland’s Enterprise Zone program has a tremendous impact on communities throughout our state, serving as a catalyst for growth and revitalization in areas that need it the most,” said Gov. Moore. “We are pleased to designate three new zones, which will be an important tool to attract new investment, encourage businesses to expand, and create new jobs.”

A joint effort between state and local governments, the Enterprise Zone program provides real property and state income tax credits for businesses that create jobs and make capital investments. Businesses located in the state’s 34 Enterprise Zones will receive $47 million in property tax credits based on more than $4.3 billion in investments made in FY23.

The Maryland Department of Commerce approves the state’s Enterprise Zones, while local governments are responsible for their administration. Businesses operating within an Enterprise Zone may be eligible for a tax credit towards their state income tax filings based upon the number of new jobs created, and a tax credit on their local real property taxes based upon their overall capital investment into a property.