Business Incentives in Kent County, MD

 

 

The Kent County Commerce Zone Tax Credit program was adopted to give commercial or industrial real property owners, making a capital investment on the property, where a business entity locates to conduct business, a tax credit against the increased assessed value of the property for ten years.   The credit is 50% for the first 5 years; 25% for years 6 and 7; and 15% for years 8 through 10.  The Commerce Zone Tax Credit was adopted by the County Commissioners of Kent County on June 6, 2017 and takes effect on July 20, 2017.

 

Read more...

The Job Creation Tax Credit was adopted by the County Commissioners in 1998 and amended in 2001.  A business must construct or expand by at least 5,000 square feet the premises on which it conducts its business and employ at least 10 individuals in new, full-time positions.  The tax credit is against the increased assessed value of the property for six years; 52% for the first and second years, 39% for the third and fourth year; 26% for the fifth and sixth year. 

 

Read more...

The Maryland Enterprise Zone program, established by the Maryland General Assembly, is an incentive program designed to provide economic stimulus to communities by providing tax credits to businesses in qualified zones. Click to learn more about this program and how it can help your business.

 

Read more...

Washington College and Kent County have teamed up to create “Innovation Internships” for students. We are looking for businesses and organizations committed to enhancing their organizational goals and the development of a Washington College student.

“Innovation Internships” are project based, paid, part-time internships that last one semester. Students will work on a semester long project aimed at applying innovative ideas to improve a specific process or aspect of the business they are working with, as well as their regular classwork at Washington College.

 

Read more...

Maryland PACE program

The Kent County Board of Commissioners unanimously approved an ordinance enabling property and business owners in the county to take advantage of Maryland’s Commercial Property Assessed Clean Energy (MD-PACE) program. MD-PACE is an innovative and affordable way for commercial, industrial, and nonprofit building owners to pay for energy improvements.

 

Read more...

The HUBZone Contracting Program stimulates economic development and creates jobs in urban and rural communities by providing Federal contracting preferences to small businesses. These preferences go to small businesses that meet specific criteria. Learn more...

 

Read more...

Kent County, Maryland has historically prized its agricultural heritage, and was named the “2007 Best Place to Live in Rural America” by Progressive Farmer Magazine.  

In order to continue that legacy, Kent County has encouraged and supported the use of diverse agricultural products and processes. Our latest effort in support of a strong agricultural economy was to aggressively promote a significant expansion in the wine-quality grape growing industry in our county and our region....

 

Read more...

In 2015, Kent County reactivated the Revolving Loan Fund and partnered with ESEC to manage the fund.  In collaboration with the Kent County Economic Development Office, ESEC facilitates loan applications from businesses and entrepreneurs in Kent County and makes recommendations about loan approval.  All final decisions of loan applications are made by the County Commissioners of Kent County.

Read more...

The Greater Chestertown Initiative (GCI) facilitates the Open for Business in Chestertown program. Open for Business is designed to provide “kickstarter” funding for new or expanding businesses with the goal of filling empty storefronts in the downtown. Open for Business invites entrepreneurs to submit requests for funding and through a juried process select those deemed most promising. Awards will be made in the form of matching funds and virtually interest free loans.